What is meant by 'Traceability' in requirements management?

Traceability in requirements management refers to the ability to link requirements back to their origins, ensuring that each requirement can be traced back to specific business needs, objectives, or stakeholder requests. This process is crucial as it helps in validating that the requirements align with the initial intent of the project and can guide decision-making regarding changes or enhancements. Traceability is instrumental in impact analysis, allowing stakeholders to understand how changes in requirements might affect various aspects of the project, including schedules, costs, and scope.

In the context of managing requirements, understanding their origins helps teams ensure that they are addressing the correct needs and can facilitate the prioritization and validation processes throughout the project lifecycle. It also provides a framework for accountability, as stakeholders can see how and why certain requirements were implemented, thus reinforcing transparency and communication among project participants.

The other options provided do not accurately define traceability in the context of requirements management. Tracking project expenses pertains to financial management, the legal status of stakeholders relates to governance and compliance, and revising requirements after implementation speaks to change management rather than the foundational aspect of traceability regarding the relationship between requirements and their sources.