An frd or functional requirements document serves as a contract for formal statement, between the business stakeholders and the technology team, on an application’s functional requirements. The frd is produced by business analysts or sometimes the technical team in response to the business. If you are unfamiliar with this document, do not be vexed. 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. An frd defines the specific functions and features that the.