We’ve just updated our suggested business requirements document template, though it can be used as a template for any type of requirements specification. You can find it here on our Resources page. One thing we strongly suggest is that you create and update requirements within a requirements management tool and then output as needed to a document such as this. We use Borland Caliber and have found that it is relatively easy to export from Caliber into this format. This is a great way to deliver your requirements to the team, but if you can avoid it, do not use the Word document as your source as you will likely step on each other eventually and it makes traceability very hard!