Which of the following best describes a 'Business Requirement'?

A 'Business Requirement' is fundamentally a statement that encapsulates the high-level needs and expectations of the organization. It serves as a guiding principle for ensuring that the project aligns with the overall strategic objectives of the business. This means that business requirements articulate what the organization wants to achieve, rather than how it will achieve it.

This high-level focus helps in setting a clear direction for the project, allowing stakeholders to understand the intended outcomes without getting bogged down in the technical details. By identifying these needs early in the requirements-gathering process, business analysts can prioritize and ensure that subsequent efforts—such as developing functional specifications or creating detailed task lists—are aligned with the overarching goals of the organization.

While the other options might touch on related concepts, they do not capture the essence of business requirements. Short-term goals and detailed specifications, for instance, are important but serve a different purpose within the project’s lifecycle. Hence, the correct choice clearly represents the nature and function of a business requirement within the context of business analysis.