A functional specification document (fsd), also known as a functional requirements document (frd), is considered by many project management and software. 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 overall obs covers a wide range of features, which are. [provide a list of contractual or task level assumptions and/or constraints that are preconditions to preparation of the frd. 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.