Verification and Validation
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As explained, after all the requirements have been mapped and allocated, the V&V process begins.
The words Verification and Validation are taken from the world of Quality Management and are defined as a collection of actions required to achieve proof of compliance for the system or product. Most people mention these two concepts in one breath, although have difficulty to explain the differences between these two terms. Therefore, first we stand on the differences between verification and validation activities.
Verification vs. Validation
Verification is a Quality Control process that is used to evaluate whether or not a product, service, or system complies with regulations, specifications, or conditions imposed at the start of a development phase. Validation is Quality Assurance process of establishing evidence that provides a high degree of assurance that a product, service, or system accomplishes its intended requirements.
Tools
Verification examines the process (documents, plans, requirements etc.), therefore it's based on a statement, e.g. completed checklist, minutes of inspection meeting. Validation examines the product, therefore it's done by actual testing.
Examples
Verification: when you perform the addition of 2+3 on a calculator, it should display the result as 5. Validation: when you use the "Add" button in a calculator, it should add!
Typical V-model representation
Verification takes place before Validation. Verification determines whether the output of a life cycle phase fulfills the requirements specified in the previous phase. Validation confirms that the specification of a phase or of the complete system is appropriate and is consistent with the customer requirements.

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