A Requirements Traceability Matrix is defined as the listing of every SINGLE requirement stated in the SRS including its page and paragraph number. The matrix ensures that all the requirements of the RFP are addressed so that project tracking and any change request can be easily done along with analyzing if there is any gap in the software that is been developed & the actual requirement, thus facilitating gap analysis.

The entries made in the matrix can be linked to various entities such as diagrams, text specifications, and test procedures. The matrix ca be created using many tools which may include requirements management software, databases, spreadsheets, or even with tables or hyperlinks in a word processor.

Following steps needs to be followed to prepare a requirement traceability matrix:
1. Create a template.
2. Transfer the exact requirement based on the SRS/BRD/RFP
3. Assign each requirement with a unique ID.
4. Assign each Use Case a unique ID and insert it in the matrix (if it is been prepared)
5. Insert the test case Id into the traceability matrix.
6. Review the data and the matrix is ready.

Following is the list of Requirements Management Software that can be used to generate requirement tracebility matrix:
Accept 360
Active!Focus
AnalystPro
Caliber-RM
CORE
Cradle
DOORS & DOORSrequireIT
Enterprise Architect
GatherSpace
GMARC
IRqA
Jama Contour
Leap SE
Lighthouse RM
Mac A&D and Win A&D
MKS Requirements
objectiF
Open Source RM
Optimal Trace
PACE
PixRef Pro
Polarion
Projectricity
Qualica QFD
Rally
RaQuest
Reconcile
Reqtify
Requirements Mgmt Database
Requirement Tracing System
Requisite Pro
RMTrak
RTM Workshop
SoftREQ
Teamcenter
Tiger PRO (free)
TopTeam Analyst
Tracer (free)
TRUEreq (free)
XTie-Requirements Tracer