In the context of software development, what is meant by requirements?

In software development, requirements specifically refer to the needs and expectations of users, which encompass what the software must do to fulfill the users' needs and solve their problems. This definition ensures that the development process is driven by user-centric design, focusing on delivering a product that aligns with what users expect in functionality and performance.

Identifying and detailing these requirements is crucial because they serve as a foundation for the entire development process, guiding design, implementation, testing, and ultimately ensuring that the final product satisfies the user's needs. Requirements can be functional, describing specific behaviors or functions the software must have, or non-functional, outlining how the system performs certain tasks (e.g., speed, usability, reliability).

The other options, while related to the overall development process, do not accurately capture the essence of requirements. Features desired by developers reflect personal goals rather than user needs, financial costs pertain to budgeting and resources rather than the output's functions, and timelines focus on scheduling milestones rather than what the software must achieve. All these elements are important in software projects, but they do not define what requirements are in the context of user expectation and need.