<P> Specifications may also refer to technical standards, which may be developed by any of various kinds of organizations, both public and private . Example organization types include a corporation, a consortium (a small group of corporations), a trade association (an industry - wide group of corporations), a national government (including its military, regulatory agencies, and national laboratories and institutes), a professional association (society), a purpose - made standards organization such as ISO, or vendor - neutral developed generic requirements . It is common for one organization to refer to (reference, call out, cite) the standards of another . Voluntary standards may become mandatory if adopted by a government or business contract . </P> <P> In engineering, manufacturing, and business, it is vital for suppliers, purchasers, and users of materials, products, or services to understand and agree upon all requirements . </P> <P> A specification may refer to a standard which is often referenced by a contract or procurement document, or an otherwise agreed upon set of requirements (though still often used in the singular). In any case, it provides the necessary details about the specific requirements . </P> <P> Standards for specifications may be provided by government agencies, standards organizations (ASTM, ISO, CEN, DoD, etc .), trade associations, corporations, and others . The following British standards apply to specifications: </P>

Explain the significance of specifications and standards in the requirements and procurement process