What is a PRD with example?

A PRD, or product requirements document, is a detailed document that outlines the features, functionality, and requirements of a product. It is an important tool for product managers, as it helps to clearly define the scope and vision of the product, and to ensure that all teams and stakeholders are aligned on its goals and objectives.

A PRD typically includes a number of different sections, including an overview of the product, a description of the target market and user needs, and a detailed list of features and functionalities. It may also include information on the product’s business objectives and goals, as well as technical requirements and constraints.

Here is an example of a PRD for a new mobile app:

Overview:

The XYZ app is a new mobile app that provides users with a simple and convenient way to manage their personal finances. It allows users to track their spending, create budgets, and set financial goals, all from the convenience of their smartphone.

Target Market:

The target market for the XYZ app is young adults, ages 18-34, who are looking for an easy and intuitive way to manage their money. This demographic is tech-savvy and comfortable using mobile apps, and is likely to be interested in managing their finances on-the-go.

User Needs:

The XYZ app aims to meet the following user needs:

• Easy and convenient tracking of spending: Users should be able to easily and quickly track their spending, without having to enter a lot of data or navigate through complex menus.
• Customizable budgets: Users should be able to create and customize their own budgets, based on their income and spending patterns.
• Financial goals: Users should be able to set financial goals, such as saving for a specific purchase or paying off debt, and track their progress towards these goals.
• Security and privacy: Users should have confidence that their financial data is secure and private, and that it will not be shared with third parties.

Features and Functionalities:

The XYZ app will include the following features and functionalities:

• Easy and intuitive user interface: The app will have a clean and simple user interface, with clear and concise menus and buttons.
• Automatic spending tracking: The app will automatically track users’ spending, based on data from their linked bank accounts.
• Customizable budgets: Users will be able to create and customize their own budgets, based on their income and spending patterns.
• Financial goals: Users will be able to set financial goals, such as saving for a specific purchase or paying off debt, and track their progress towards these goals.
• Security and privacy: The app will use industry-standard encryption and security measures to protect users’ financial data.

Business Objectives and Goals:

The XYZ app has the following business objectives and goals:

• Achieve 100,000 active users within the first 6 months of launch.
• Achieve a customer satisfaction score of at least 4.5 out of 5 within the first 6 months of launch.
• Achieve a revenue target of $1 million within the first year of launch.

Technical Requirements and Constraints:

The XYZ app will be developed for iOS and Android, and will require the following technical specifications:

• iOS: iOS 11 or later, compatible with iPhone and iPad.
• Android: Android 6.0 or later, compatible with smartphones and tablets.
• Back-end server: Linux-based server with at least 8GB of RAM and 100GB of storage.

This is just an example of a PRD for a mobile app, but the same principles and

structures can be applied to a PRD for any type of product. The key is to provide a clear and detailed overview of the product, its target market and user needs, and its features and functionalities.

In addition to the sections described in the example above, a PRD may also include other elements, depending on the specific product and requirements. For example, a PRD for a software product may include information on system architecture and technical architecture, as well as details on integration with other systems and platforms. A PRD for a physical product, such as a consumer device, may include information on design, materials, and manufacturing processes.

A PRD is typically developed and updated throughout the product development process, as new information and insights are gathered and as the product’s requirements evolve. It is an important reference document for all teams and stakeholders involved in the product, and it should be reviewed and updated regularly to ensure that it remains accurate and relevant.

In conclusion, a PRD is a detailed document that outlines the features, functionality, and requirements of a product. It is an essential tool for product managers, as it helps to clearly define the scope and vision of the product, and to ensure that all teams and stakeholders are aligned on its goals and objectives. By developing and maintaining a comprehensive and up-to-date PRD, product managers can help to ensure the success and growth of their product.