9 Best Product Requirement Document (PRD) Templates 2024

Product requirements documents connect stakeholders, developers, marketers, upper management, etc.—to what product management teams can effectively deliver. 

With no PRDs, stakeholders may be expecting one thing while engineers may be executing something else. Timely prevention of any of these mistakes via PRDs guarantees that everyone is in agreement.

For the development team especially, a PRD precisely points out the projected output from the construction. It shows the relative importance of every element, so the development team may distribute their effort.

Finally, PRDs are quite helpful for setting reasonable criteria and standards to abide by. Clearly defined, quantifiable goals in the PRD enable everybody to know what they are aiming for and against which to evaluate the success of the product.

Developers as well as stakeholders can get their foundation sorted from the product requirements document. Actually, done right, you can leverage PRDs and use it as a one-stop platform for project management as well.

In short, the PRD will assist you in organizing all the data surrounding the product so that it is easier to describe and absorb.

What is a PRD Template?

All of the product needs are outlined thoroughly in a product requirements document (PRD). It tells you what the product is for and how much it’s worth. 

The product manager is in charge of writing up the PRD. This makes sure that the product team and other important people can understand them.

Information about the project includes what it is making, who it is for, and how it will help the person who uses it. 

The PRD is organized from the very beginning, it makes sure there are no gaps to be filled. It provides you with an overview, showing what needs to be done and when. 

Then, the project’s goals are linked to the functionalities that make that idea come true. There are also specifics about the appearance of the features people will use it.

Why Is PRD a Must?

The main purpose of a PRD is to get everyone involved on the same page and come up with a common idea.

Several teams must work together to effectively release a product or feature. These teams include tech, design, customer support, advertising, and incoming and outgoing sales. 

A PRD plans the release, makes sure that everyone is on the same page, and makes sure that you give your people what they want on time.

Other departments will use a PRD as their baseline to plan their own tasks. They include elements such as functional specs, design files, schematics, prototypes, and more.

Benefits of a PRD

Understanding the benefits of a well-crafted Product Requirement Document (PRD) is also equally essential for you. Let’s get into it.

1. Clarity

Making a list of project requirements, challenges, and ideas before you initiate development makes the work go more smoothly. 

This is true for both management and professional teams, as well as product managers.

This also applies to all the different people who have an investment in a project. A paper with product standards gives everyone something to look at. 

It’s very important to keep everyone informed.

2. Realistic Goals

A PRD not only tells us what the design or programming team needs to work on for a product. 

It also gives them time and space to figure out what aspects they won’t be focusing on during the launch.

One important part of your success strategy is figuring out the risks and project associations.

Because of this, you need to figure out how to reduce the risks while still giving important jobs the most attention. 

That insight will be in one place if it’s done right, so the product manager or other important people can set fair deadlines and make sure everyone stays on track.

3. Effective Collaboration

A product manager, more than anyone else, hates missing important dates.

It’s true that PRDs help make the creation procedure a collective endeavor. A PRD also indicates who is usually in charge of what, so the central unit can do its job well.

You can only forge credibility and confidence when everyone on the team can see what’s going on. 

A good planning process also lets people share their thoughts on functional standards when other teams have too little or too much work to do.

Types of PRD Templates

Now that we have a fair idea of what a PRD is and the purpose it serves. Let’s look at the type of PRDs online and others that complement it.

Traditional PRD Template: 

This is a comprehensive document that covers all aspects of the product. They include:

• Features 
• Functionality 
• User stories 
• Technical specifications 
• Design requirements

Lean PRD Template:

A streamlined version of the traditional PRD focuses on essential features and user stories while omitting detailed technical specifications and market analysis. 

It aims to quickly define the product requirements without extensive documentation.

Agile PRD Template: 

Specifically designed for Agile development methodologies, this template is more dynamic and evolves over time. 

It typically includes user stories, acceptance criteria, prioritized features, and may also incorporate sprint goals and backlog items.

Feature-Centric PRD Template: 

Organized around individual features or modules of the product.

 It details the specific requirements, user stories, acceptance criteria, and any dependencies related to each feature.

Problem Statement PRD Templates:

It focuses primarily on defining the problem that the product aims to solve, along with the user needs and market analysis. 

It may outline potential solutions but focuses on understanding the problem deeply before defining specific features.

Use Case PRD Template: 

Emphasizes use cases and scenarios that the product is expected to support. 

It includes detailed descriptions of user interactions, system responses, and how the product functions in various scenarios.

Market Requirements Document (MRD): 

While not strictly a PRD, an MRD outlines high-level market needs, customer expectations, and the competitive landscape. 

It serves as a precursor to PRD and helps align product development with market demands.

Functional Specifications Document (FSD): 

In some cases, especially in more technical projects, a separate FSD is used alongside or as part of the PRD. 

The FSD details the technical requirements, architecture, data models, APIs, and other engineering aspects necessary to implement the product features.

Top 9 PRD Templates in 2024

Crafting a thorough Product Requirement Document (PRD) is crucial for the successful development and launch of any product. 

Here are are some detailed templates for different types of PRDs. We have carefully curated these templates to fit various industries and product types.

1. General PRD Template

Executive Summary:

• Purpose: Outline the main reason for the product’s existence. Explain the problem it solves or the opportunity it capitalizes on.
• Background: Provide context such as market conditions, customer feedback, or competitive analysis that led to the development of the product.
• Goals: Define clear, measurable objectives (e.g., increase user engagement by 15%, reduce churn rate by 10%).

Stakeholders:

• Internal Stakeholders: List roles such as product managers, developers, QA testers, and marketers, including their specific responsibilities.
• External Stakeholders: Include customers, partners, regulatory bodies, and any other external entities that have an interest in the product.

Requirements:

• Functional Requirements: Detail each feature with a description, priority level, and any dependencies. Examples include user authentication, data export functionality, and reporting tools.
• Non-functional Requirements: Address system performance (e.g., “The system should handle up to 10,000 concurrent users”), security measures (e.g., “Data should be encrypted in transit and at rest”), and other quality attributes like usability, reliability, and scalability.

User Stories:

• Example: “As a user, I want to reset my password so that I can regain access to my account without contacting support.”
• Details: Include acceptance criteria, priority, and any relevant notes or mockups.

Acceptance Criteria:

• Example: “The search function should return results within 2 seconds for a database of up to 1 million records.”

Timeline:

• Milestone 1: Design phase completion by [date].
• Milestone 2: Development phase start by [date].
• Milestone 3: Beta testing start by [date].
• Milestone 4: Public release by [date].

Appendix:

• Glossary: Define specific terms and acronyms used in the document.
• References: Include links to additional documents, such as market research reports, user feedback summaries, or technical specifications.

2. Agile PRD Template

Introduction:

• Vision: A broad statement of what the product aims to achieve in the long term.
• Objectives: Specific, measurable goals such as “Improve user onboarding process to reduce dropout rates by 20%.”

User Personas:

• Persona 1: Detailed description including name, age, job, key motivations, and pain points.
• Persona 2: Another detailed persona with similar information.

Epics and User Stories:

• Epic 1: High-level requirement or feature (e.g., “User Account Management”).
  • Story 1.1: “As a user, I want to create an account so that I can access personalized features.”
    • Acceptance Criteria: List specific conditions that must be met for the story to be complete.
  • Story 1.2: Another user story under the same epic.

Acceptance Criteria:

• Example: “Password reset functionality should send an email with a reset link that expires in 24 hours.”

Backlog and Prioritization:

• Backlog Item 1: Description, priority, and any dependencies or notes.
• Backlog Item 2: Another detailed item.

Release Plan:

• Sprint 1: List of user stories and tasks to be completed.
• Sprint 2: Additional user stories and tasks.

3. SaaS Product PRD Template

Overview:

• Product Summary: Brief description, target audience, and the core value proposition.
• Market Analysis: Key findings from market research, including target demographics, user needs, and competitive landscape.

Features:

• Core Features: Essential functionalities like user management, billing, and reporting.
  • User Management: Allow users to create, update, and delete their accounts.
  • Billing: Integrate with payment gateways to handle subscriptions and transactions.
• Advanced Features: Additional features that provide extra value, such as analytics dashboards or custom reporting tools.

User Flows:

• Flow 1: Diagram or step-by-step description of the user journey from sign-up to the first key action.
• Flow 2: Another important user journey.

Technical Requirements:

• Scalability: How the system will handle growth (e.g., “The system should scale to support 100,000 users without performance degradation”).
• Security: Measures to protect user data and ensure compliance with regulations (e.g., GDPR).

API Documentation:

• Endpoint 1: Detailed information including the URL, HTTP method, required parameters, and response format.
• Endpoint 2: Another endpoint with similar details.

UX/UI Requirements:

• Wireframes: Basic screen layouts showing the structure and key elements.
• Mockups: High-fidelity designs with colors, fonts, and other UI elements.

4. Mobile App PRD Template

Introduction:

• App Summary: Overview of the app’s purpose, core functionalities, and target users.
• Target Audience: Detailed description of the user demographics, behaviors, and needs.

Functional Requirements:

• Feature 1: Description, purpose, and any specific requirements (e.g., “The app should support social media login via Facebook and Google”).
• Feature 2: Another feature with similar details.

Non-functional Requirements:

• Performance: Speed and responsiveness targets (e.g., “The app should load the home screen within 3 seconds on a 4G connection”).
• Usability: Accessibility standards and user experience guidelines.

Wireframes and Design:

• Screen 1: Description, purpose, and link to the wireframe.
• Screen 2: Another screen with similar details.

Integration Requirements:

• Third-party Services: List of APIs and SDKs needed, such as push notifications, analytics, or payment processing.

Deployment Plan:

• Beta Testing: Criteria for selecting beta testers, testing phases, and feedback collection.
• Launch Plan: Steps to release the app on app stores, marketing strategies, and post-launch support.

5. E-commerce PRD Template

Product Overview:

• Summary: Brief description, key goals, and target market.
• Objectives: Specific goals like “Increase average order value by 10% within the first six months.”

User Stories:

• Shopper Story: “As a shopper, I want to filter products by category so that I can find what I need quickly.”
• Acceptance Criteria: List conditions that define successful implementation.
• Admin Story: “As an admin, I want to update product information so that I can keep the catalog current.”

Functional Requirements:

• Shopping Cart: Features such as adding/removing items, applying discount codes, and estimating shipping costs.
• Payment Gateway: Supported payment methods, security standards, and integration details.

Non-functional Requirements:

• Security: SSL encryption, PCI compliance, and other security measures.
• Performance: Load times, transaction speed, and server response times.

Catalog and Inventory:

• Product Listing: Details like product name, description, price, images, and metadata.
• Inventory Management: Features for tracking stock levels, receiving alerts for low stock, and managing suppliers.

Order Management:

• Order Processing: Steps from order placement to delivery, including payment verification, packing, and shipping.
• Shipping: Integration with carriers, shipping options, and tracking.

6. Enterprise Software PRD Template

Introduction:

• Product Overview: High-level summary of the software, its purpose, and its key features.
• Business Case: Justification for the project, including expected benefits and ROI.

Stakeholder Analysis:

• Key Stakeholders: Roles, interests, and how they will interact with the product.

System Requirements:

• Functional Requirements: Detailed list of features and functionalities (e.g., user management, reporting tools, integration with existing systems).
• Non-functional Requirements: Performance, security, compliance with industry standards, and other quality attributes.

Data Requirements:

• Data Model: Description of the data structure, including key entities and relationships.
• Data Migration: Strategy for migrating data from legacy systems, including steps and tools to be used.

User Stories and Use Cases:

• Use Case 1: Scenario describing a specific user interaction with the system (e.g., “Generating a quarterly report”).
  • Steps: Detailed steps for the use case.
• Use Case 2: Another scenario with similar details.

Security and Compliance:

• Security Requirements: Measures to protect data, including encryption, access controls, and audit logging.
• Compliance Standards: List of industry regulations and standards that the product must comply with (e.g., GDPR, HIPAA).

7. Fintech PRD Template

Executive Summary:

• Product Vision: Long-term goals and what the product aims to achieve.
• Market Need: Insights from market research justifying the product’s development.

User Personas:

• Persona 1: Detailed description including demographics, financial behaviors, and needs.
• Persona 2: Another detailed persona.

Functional Requirements:

• Transaction Processing: Features such as transferring funds, checking balances, and viewing transaction history.
• Reporting: Types and formats of reports available to users (e.g., monthly statements, spending analysis).

Compliance Requirements:

• Regulatory Requirements: Specific regulations the product must comply with (e.g., KYC, AML).
• Security Standards: Encryption, data protection measures, and any industry standards.

Technical Requirements:

• Architecture: Overview of the system’s architecture, including components and their interactions.
• Scalability: How the system will handle increased load and user base.

Integration Requirements:

• Banking APIs: List of necessary APIs for integrating with banking services.
• Third-party Services: Additional services such as credit scoring, identity verification.

8. Healthcare Product PRD Template

Overview:

• Product Summary: High-level overview of the product’s purpose and features.
• Objectives: Specific goals like “Improve patient outcomes by providing better data access.”

Regulatory Compliance:

• HIPAA: Detailed requirements to ensure compliance with health data protection regulations.
• FDA: Any applicable regulations for medical devices or software.

Functional Requirements:

• Patient Management: Features for managing patient data, appointments, and treatment plans.
• EHR Integration: How the product will integrate with existing Electronic Health Records systems.

Non-functional Requirements:

• Security: Measures to protect patient data, including encryption and access controls.
• Usability: Standards to ensure the product is easy to use for healthcare professionals.

User Stories:

• Patient Story: Scenario involving a patient using the product (e.g., “Scheduling an appointment”).
  • Steps: Detailed steps for the story.
• Doctor Story: Scenario involving a healthcare professional (e.g., “Accessing patient history”).

Data Requirements:

• Data Storage: How and where data will be stored, including backup and recovery plans.
• Data Privacy: Measures to ensure data privacy, including consent management and anonymization techniques.

9. IoT Product PRD Template

Product Overview:

• Summary: Brief description of the IoT product, its purpose, and its core features.
• Market Analysis: Key insights from market research, including target demographics and competitive landscape.

Functional Requirements:

• Device Connectivity: How devices will connect to the network (e.g., Wi-Fi, Bluetooth).
• Data Transmission: Protocols and methods for data transmission (e.g., MQTT, HTTP).

Non-functional Requirements:

• Performance: Speed and reliability targets, such as “Data should be transmitted within 2 seconds of collection.”
• Reliability: Uptime requirements and acceptable failure rates.

Hardware Requirements:

• Device Specifications: Key specifications for the hardware components, including sensors and actuators.
• Sensors: Types of sensors and their functionalities (e.g., temperature, humidity).

Software Requirements:

• Firmware: Requirements for the device firmware, including update mechanisms.
• Cloud Integration: How data will be processed and stored in the cloud, including data formats and APIs.

Security Requirements:

• Data Encryption: Methods used to secure data in transit and at rest.
• Device Authentication: How devices will authenticate with the network and cloud services.

Conclusion

In wrapping up, a solid Product Requirement Document (PRD) is your best friend when it comes to developing and launching a successful product. 

It brings everyone on the same page, providing a clear path for your development team and ensuring your final product hits the mark for users and meets business goals. 

By laying out functional and non-functional requirements, user stories, acceptance criteria, and timelines, a PRD helps manage risks, align expectations, and keep communication smooth throughout the project. 

Spending time on a detailed PRD not only makes the development process smoother but also boosts the quality and satisfaction of the end product. 

Whether you’re working on a SaaS application, a mobile app, or an IoT device, these detailed templates will help you cover all the crucial details, setting your product up for success.