What role does the 'Requirements Baseline' play in LCM?

A 'Requirements Baseline' plays a critical role in the Requirements Life Cycle Management (LCM) by serving as a reference point for requirements to support change management. This established baseline encompasses the approved versions of all requirements after they have been reviewed and validated by stakeholders.

When a project progresses, changes to requirements are often necessary due to evolving business needs, stakeholder feedback, or external factors. The requirements baseline provides a clear and documented reference that allows the team to understand what has been agreed upon and what modifications are being proposed. It becomes essential for evaluating the impact of any changes, ensuring that they are managed appropriately and do not disrupt the project’s overall objectives. Establishing a formal requirements baseline helps facilitate effective communication among stakeholders regarding changes, as everyone can refer back to the original agreed-upon requirements.

In contrast, the other options focus on different aspects of project management: one suggests budgeting and financial planning, another discusses roles and responsibilities, and the last pertains to detailing the project scope. While these elements are essential in their own rights, they do not specifically relate to the unique function of the requirements baseline in supporting change management within the LCM framework.