Wow - I wasn't expecting such a fast reply !
Regarding some of your comments:
Yes, 1 project usually involves many changes to at least 1 of our products. For example, in a recent project to create a web-based solution to streamline the act of getting customers' voice recordings approved before publishing:
- our IVR product needed to be updated to:
a) provide a 'web service' for guaranteed file/data delivery between IVR server & web server,
b) transfer the recording and related data to web server,
c) notify web server if the member recorded again before the first one was reviewed,
d) accept notification from the web server indicating whether the recording was approved or not (& why).
- our (new) web product (application) was created to:
a) allow an administrator to define & manage users,
b) provide a login page for users,
c) accept incoming files & data from IVR server,
d) allow users to hear 'the next' recording and document any issues with it,
e) notify the IVR server of the result,
f) accept notifications from IVR server
- our back-end customer mgmt app was updated to:
a) accept notification of repeated disapprovals, resulting in further action (against) a customer.
Now, all of the above was just 1 project which implied changes to 2 existing products and the creation of a new product.
Now, from a business perspective, we have 'master functional specs' for each of our products which documents each products' business requirements, features and business rules. Each master functional spec documents the product in it's entirety 'as of this date'. (Hence the title.)
We have these because as soon as there is a project to be done, we need to know what will be changed and what the impact will be for each change.
So, it sounds to me like this would be 1 DB for each product - possibly each major business feature would be it's own exportable 'package'.
Then for each _project_, we'd create 1 DB and import all the appropriate packages. When the project is completed, we'd export those packages and re-import them into the product-specific DBs.
If I understand EA correctly, then this picture isn't too bad when you have 1 project at-a-time and maybe 4 projects per year.
We have about a dozen projects per year, with 2 - 4 of them happening concurrently, each of them needing requirements defined, analysis performed, etc.
Now, the above was just for 1 project that started last summer. This year, we're adding more features to it, meaning changing some things and adding new things - all of which implies more requirements gathering, analysis, impact analysis, etc.
We already know that we definitely need a true Req's Mgmt tool (ie. the new add-in for EA recently released), or Doors or CaliberRM.
Hopefully I've been clear that we not just a few analysts collaborating on a one-off project

I guess I was just looking for other (large) users' feedback on how they manage situations like ours.
Thanks,
Steven.