In addition to this definition, requirements can be applied to various aspects of a project from a governance perspective. There are three different aspects of governance: Regulation, Execution and Compliance (See Appendix J: Governance Model. 1)
Understanding requirements is an important part of specifying, building, using and maintaining any product. And when the System is Distributed on multiple machines, supporting multiple stakeholders the need for the proper governance is essential. The requirements must cover all three aspects of governance. For example, there can be a requirement that is expressed in the regulatory aspect which requires reporting of information. The Compliance aspect will have a corresponding requirement that validate and verifies the reporting of the information. These are then also reflected in the Execution Aspect that has to have processes and systems designed to collect and report the proper data.