1. A method for electronically managing dynamic requirements and software development for a software development project, the method, comprising: defining requirements for the project based on requirements information captured from a requirements source; for each requirement, dynamically associating source code or executable code developed to satisfy the requirement with the project or dynamically assigning development of source code and executable code to satisfy the requirement; receiving a selection of identified procedures in the source code or the executable code for mapping the selected, identified procedures in the source code or the executable code to the defined requirements for the project; creating an XML thread for each requirement, wherein each XML thread includes a plurality of elements that describe properties of the thread and a unique identifier for the respective requirement that enables traceability of the defined requirements for the software development project, and wherein the elements of each XML thread include a corresponding defined requirement, a mapping between at least one of the selected, identified procedures in the source code or executable code and the corresponding defined requirement, and results of analyses, code coverage measurements, system testing and unit testing performed on the mapped procedures; converting each XML thread into a hierarchal tree comprising a plurality of container objects; displaying, in a graphical user interface, a result of verifying whether or not the source code or executable code developed or being developed satisfies the defined requirement that is mapped to the source code or the executable code, wherein the verifying is based on results of one or more of analyses, code coverage measurements, system testing and unit testing performed on the mapped procedures; and storing the result of verifying in the XML thread; wherein the XML thread enables traceability between the respective requirement, the at least one of the selected, identified procedures in the source code or the executable code, and the result of verifying, and wherein the mapping includes invoking a static analysis tool to analyze the source code to identify the procedures associated with the defined requirements in the source code and storing the identified procedures in the XML thread that corresponds to the defined requirement.