Prioritizing requirements is that urgency of different requirement to cop up with the limited resources. Agile is best for prioritizing Requirement
Ranking: In Ranking prioritizing can be done based upon the value of the requirement which is important. Ranking can be done from the scale of 1(Lowest) to 10(highest)
Grouping : This method is based upon the grouping requirement. where Stakeholder requirements are grouped into critical, moderate and optional.
MoScoW Techinque: where the technique based on MUST Have, SHOULD Have, COULD Have, and WON’T HAVE.
Bubble Sorting: Prioritizing can be done with the help of sort. where two requirements are compared with each others .if one requirement have greater priority then the requirement is swap until the last requirement is properly sorted. Then the result is ranked
Currency method: This method is useful anywhere multiple stakeholder need democratically vote on which the requirement is highly important. Where the stakeholder is given different value of currency where 10$ being the least and 100$ Being the highest .The stakeholders gives the 100$ for the single requirement. The higher amount allocated, the higher the priority of the requirement.
Analytic Hierarchy Process: The method actually describes an entire framework for making correct decisions. In essence, stakeholders decompose their goal into smaller sub-problems, which can easily be comprehended and analyzed. The total number of comparisons recommended with AHP are n × (n-1)/2 (where n is the number of requirements) at each hierarchy level. Participants make judgement (sometimes based on data) about the relative importance of each element
Five Whys: It often happens that stakeholder wants to implement certain feature that are not founded on logical arguments or the business interest of the company .The BA ask the stakeholder repeatedly (5times or less) until the requirement is established .