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How to Write a BRD

  • A Guide to Writing a Business Requirements Document (BRD)

What is a BRD?

In short, a BRD organizes ideas, helping to clarify the direction of a project and to present it to stakeholders in order to obtain the necessary resources for product development.

In the product development process, project initiation is a turning point. Prior to project initiation, extensive research and investigation are often conducted, resulting in a proposed solution based on the research findings. This proposed solution is the BRD.

How to Write a BRD

1. Product Introduction

The product introduction should provide a concise explanation of the product you intend to create. The explanation should be brief and ideally be able to convey the purpose, positioning, and vision of the product in a single sentence. It can be described from the perspectives of both the users and professionals.

2. Product Value

The product value should explain to decision-makers why this product should be developed. It can be described from two perspectives: user needs (what needs are being met, what pain points are being addressed, etc.) and strategic considerations (how the product can bring value to the company, generate profits, increase market share, etc.).

3. Product Solution

The product solution should provide decision-makers with an overview and outline of the product, including the following aspects:

  1. Product Form: What is the general architecture of the product? Is it informational, social, search-based, or O2O?
  2. Business Model: Is the business model B2C or B2B? Who are the participants and how does it form a closed loop?
  3. Operational Model: What operational strategies and methods will be used to run the product? For example, in an educational product, will teachers be recruited or will there be crowdsourcing?
  4. Revenue Model: How will the product generate revenue? For example, through advertising, value-added services, or selling goods?

4. Market Analysis

Product development should not happen in isolation; it is important to consider the market conditions, including:

  • Market Size: This needs to be assessed based on demand analysis and an understanding of the target audience. Decision-makers will use this assessment to determine whether it is worth investing in the product.
  • Competitor Analysis: Identify competitors in the market, understand how they address user needs, identify any unmet needs, evaluate their investment, team, and output, and compare their strengths and weaknesses with ours.
  • Future Market Outlook: This includes predicting future market competition, industry risks, policy changes, and industry trends.
  • Market Opportunities: Identify breakthrough opportunities that can help us establish a certain position in the market.

5. Execution Plan

Provide a general description of how the product will be developed:

  • Phase 1: Validate user needs with an MVP, from xxx to xxx.
  • Phase 2: Refine the product and expand the user base, from xxx to xxx.
  • Phase 3, Phase 4, etc.

6. Financial Forecast

Estimate the investment costs and expected returns, as decision-makers attach great importance to this aspect. Investment costs can be relatively easy to calculate, while revenue can be estimated based on reference values from the revenue model (e.g., advertising can refer to CPC/CPA rates).

7. Risk Assessment

Risks refer to behaviors and factors that may affect the achievement of product goals or increase product costs. When considering risks, it is important to assess all possible risks, determine their likelihood and severity, provide corresponding mitigation plans, and clarify the benefits of these plans.

Considerations

  • Writing a BRD is not just about creating a simple document; it requires a lot of preparation.
  • Focus less on product details in the document and more on the commercial value of the product.
  • Ensure logical coherence and strive for concise expression.
  • Base the content on reality and try to guide it in a way that is advantageous to oneself.

References and Acknowledgments

Article Author: Power Lin Original Article: https://wiki-power.com Copyright Statement: This article is licensed under the CC BY-NC-SA 4.0 license. Please indicate the source when reproducing.

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