Requirements management is an integral part of developing successful software products. Effective requirement management ensures that product and business objectives are met by providing approved and up-to-date requirements accessible to all members of the project team. It ensures that projects are delivered on schedule by providing a means to analyze and communicate changes to requirements. This paper provides a thorough and detailed examination of a comprehensive requirements management solution. It also examines how requirements are authored, captured and traced through the downstream lifecycle, and how configuration management concepts such as versioning and baselining can be leveraged to achieve advanced requirements management capabilities.