Identify a tool commonly used for requirement prioritization.

The MoSCoW Method is a widely recognized tool specifically designed for requirement prioritization. This method helps stakeholders categorize requirements based on their importance and urgency into four distinct groups: Must have, Should have, Could have, and Won’t have this time. By employing this framework, business analysts can ensure that critical requirements are identified and addressed first, facilitating better project management and resource allocation.

Using the MoSCoW Method encourages collaboration among team members and stakeholders, leading to clearer communication of priorities and expectations. This structured approach also helps in minimizing scope creep, as it provides a clear understanding of which requirements are essential to project success and which are less critical.

On the other hand, tools like SWOT Analysis and PEST Analysis serve different purposes; SWOT focuses on analyzing strengths, weaknesses, opportunities, and threats within a project or organization, while PEST analyzes external factors such as political, economic, social, and technological influences. Brainstorming sessions, while useful for generating ideas and gathering diverse input, do not provide a systematic way to prioritize requirements. Hence, the MoSCoW Method stands out as the most suitable tool for prioritizing requirements effectively.