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Requirements Analysis involves identifying, eliciting, documenting, and maintaining software requirements throughout the software development life cycle. It is an essential component of Software Project Management as it helps ensure that the final product aligns with stakeholder expectations and business objectives. In the context of Software Configuration Management, Requirements Analysis plays a crucial role in tracking changes to requirements, managing version control, and ensuring traceability between requirements and implemented features. By defining clear and concise requirements, teams can minimize misunderstandings, reduce rework, and improve overall software quality.