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. A functional requirements document (frd)—also known as a functional requirements specification, functional specification, or functional specification document—is a more. This comprehensive guide will equip you with the knowledge and tools to create a robust and effective frd template. The functional requirements document (frd) is a formal statement of a product's functional requirements. [provide a list of contractual or task level assumptions and/or constraints that are preconditions to preparation of the frd.