From Requirements to Business Models

  What is a  Business Model Canvas? The Business Model Canvas is a strategic management tool that allows businesses to describe, design and guide their business model in an understandable form. Business Model Canvas is a visual framework covering nine critical business ingredients to help businesses or organization come and align their activities and strategies. This tool helps business owners load complex strategies into a simple format. This in turn acts as a manual for various startups and scale-ups to measure their current model against these measures and further plan out the future decisions. Components of the Business Model Canvas Customer Segments: Who are your customers? Value Propositions: What value do you deliver to the customer? Channels: How do you reach and deliver your product/service to customers? Customer Relationships: What type of relationship do you maintain with your customers? Revenue Streams: How does your business make mo...

 what is a  use case model? A use case model is used to represent how a system interacts with external users or actors to achieve specific goals. This can outline functional requirements from the user perspective, and it will serve as a guide for creating system functionalities. Use Case Models: Capturing user requirements, end-to-end functionality of the system from a users perspective as s/he performs the real tasks of day to day deployment. They are most useful in the design and testing phase because this is where they can be leveraged to create test cases. example of textual use cases: Example of  visual use case: Elements of a Use Case Model Actors : Individuals or external systems that interact with the system. Use Cases : Specific tasks or functions that the system performs in response to an actor’s request (e.g., "Login", "Place Order"). Relationships : The associations between actors and use cases, indicating how they i...

  What is a    context diagram? A shared vision of the system across all stakeholders is called a Context Diagram. This abstract diagram shows an overview of the system and its boundaries so stakeholders can see how the system works with other systems or users. Context diagrams are very effective for the beginning stages of a system's development as they provide a simplified look at how data flows through a system. A communication tool for technical and non-technical stakeholders. Key Components System : The core process or application you are building. External Entities : Users, databases, or other systems that interact with the core system. Data Flows : Arrows representing the flow of information between the system and external entities.

  what is a  Stakeholders? A stakeholder is person or group that has some interest in a project. In project management it includes everyone from end-users and clients to investors to the regulatory body. It is very important to understand and manage stakeholder expectations in order for the project to succeed. Stakeholders have insights which could help establish the kind of system or app needed and in what constraints. Their feedback helps shape requirements and ensures the final product meets user expectations while aligning with business goals. If the stakeholders cannot clearly understand the purpose of the project, it is bound to fail due to lack of planning and supervision. Types of Stakeholders Internal Stakeholders : These include project team members, developers, or other employees involved in the project. External Stakeholders : External parties, such as customers, suppliers, government agencies, and investors, who are affected by or have ...

What is  software requirements? Now, we know that software requirements are essential to develop a solid system and application. These requirements describe the characteristics, functions, and limitations of the software. They give system functionality and interaction with the user and other systems in a structured, clear manner. Types of Software Requirements Software requirements are generally classified into two main types: Functional Requirements : These describe the system's behavior, functions, or what the system must do. For example, a login function for users or the ability to generate reports. Non-Functional Requirements : These refer to the performance standards and qualities of the system, such as security, scalability, and user experience. Software Requirements # Scenarios — Why is SW Requirement so Important. It is important to have software requirements so that developers and stakeholders agree on the scope of the project. Clear requi...