The PRD describes the product your company will build. It drives the efforts of the entire product team and the company’s sales, marketing and customer support efforts. It’s hard to come up with a more important, higher leverage piece of work for a company.
The purpose of the product requirements document (PRD) or product spec is to clearly and unambiguously articulate the product’s purpose, features, functionality, and behavior. The product team will use this specification to actually build and test the product, so it needs to be complete enough to provide them the information they need to do their jobs.
If the PRD is done well, it still might not be a successful product, but it is certain that if the PRD is not done well, it is nearly impossible for a good product to result...