Traceability Matrix is a project management tool that provides a formal way to track project requirements and to check if they are being met. It “traces” the deliverables by establishing a thread for each requirement - from the project’s initiation until its completion.
The traceability matrix allows access and operation within it by multiple users at the same time.
The importance of the Traceability Matrix stems from the fact that it connects requirements and uses cases to design inputs, outputs, testing, Risk Controls, and Risk Management.