Assumptions are future situations beyond the control of the project,. A functional specification document (fsd), also known as a functional requirements document (frd), is considered by many project management and software. 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,. To help you upsurge towards your business goals, we suggest you to try using a business requirements document.