Business requirements are gathered in this phase. This phase is the main focus of the project managers and stake holders. Meetings with managers, stake holders and users are held in order to determine the requirements like; Who is going to use the system? How will they use the system? What data should be input into the system? What data should be output by the system? These are general questions that get answered during a requirements gathering phase. After requirement gathering these requirements are analyzed for their validity and the possibility of incorporating the requirements in the system to be development is also studied.
Finally, a Requirement Specification document is created which serves the purpose of guideline for the next phase of the model.