A functional requirements document (frd)—also known as a functional requirements specification, functional specification, or functional specification document—is a more. It allows you to apply a ratings system to your requirements, so you have the visibility (into the value, status, and description of each requirement) that’s. Assumptions are future situations beyond the control of the project,. This document underlies the functional requirements for implementing online banking solution (obs) for global bank ltd (gbl). They communicate what problem needs.