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What is the best way to create software requirements?

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Our software development team complains a lot about the requirements we received from product management. In theory we use an agile development methodology but I'm not sure how strict we are since key stakeholders from product management are sometimes not present.We used to follow a strict waterfall development methodology. Agile seems to be much better, but projects are not as well thought out as they could be or used to be in our organization. Is there a way to get more specificity from product management without the excessively bureaucratic waterfall method?
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