Over recent years, requirement management has played a very vital role in materializing IT projects. Whether it is the healthcare sector, finance sector, banking sector, or any other industrial sector, requirement management is crucial for the successful completion of IT projects. Due to a tight time to market and severe competition, requirement management becomes one of the most critical activities for the software-development lifecycle process [1]. Requirements change all the time during the software-development lifecycle. Unmanaged changes lead to project overruns. Most companies are using requirement-management tools to manage requirements. However, many companies end up choosing a requirement-management tool that does not address the project’s needs and problems. In this research, requirement-management tools available on the market have been identified, and a “decision-making application” has been developed for systematic evaluation of requirement-management tools based on user needs so that a project team can identify and choose the correct requirement-management solution.