From BCMpedia. A Wiki Glossary for Business Continuity Management (BCM) and Disaster Recovery (DR).
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1. A Requirement is a documentation of the needs and expectations that a particular management system should be or perform.

Related Term: Expectation

BCMBoK Competency Level
BCMBoK 7: Program Management CL 2A: Intermediate (Audit)

BCMBoK Competency Level
BCMBoK 7: Program Management CL 3B: Advanced (BC)

(Source: Business Continuity Management Institute - BCM Institute)

2. Need of expectation that is stated, generally implied or obligatory.

Notes (1) : "Generally implied" means that it is a customary or common practice for the organization and interested parties that need or expectation under consideration is implied.

Notes (2) : A specified requirement is one that is stated, for example in documented information.

(Source: ISO 22301:2012 – Societal Security – Business Continuity Management Systems - Requirements) - clause 3.46

3. A requirement is a need, expectation or obligation.

Notes: A requirement can be stated or implied by an organization, its customers, or other interested parties. The types of requirements include quality, customer, management, product and legal.

Source: Praxiom Research Group Limited