In Requirement Engineering, Requirements Management (RM) is one of the significant phases that can control the success of a software project. It manages deal between dependencies and requirements, modifications to the approved requirements and connection between other documents as well as the requirements document formed during the process of requirement engineering. In the world of software development, it is estimated that changes to requirements and poor requirement management are one of the major causes for project overrun and quality issues in software development. The practice of requirements management methodologies, with the support of traceability and quantification, is renowned as a substantial ability in the software maintenance and development process, and as an essential aspect for the quality of the final software product. The present study is accompanied by an acute assessment of the current methods for managing and resolving software requirements. It also highlights the management concerns that arise in the said process . Result analysis rveal that there are still numerous issues, which require immediate attention of research community in order to develop a quality software.