Which term refers to capabilities or things that are lacking but desired by one or more stakeholders?

The term that accurately describes capabilities or things that are lacking but desired by one or more stakeholders is "Needs." In the context of systems engineering, needs represent the fundamental desires or necessities of stakeholders that must be satisfied in order to achieve certain goals or fulfill expectations. They form the initial basis for identifying what stakeholders expect from a system or project.

Needs are crucial in framing the problem and guiding the development of requirements that the system must meet. They drive the process of elicitation and analysis, ensuring that the stakeholders' perspectives and desires are captured early in the project lifecycle. Recognizing and articulating needs allows for a clear understanding of the context and motivations behind the desired system capabilities, leading to better alignment between what is delivered and what is expected.

While requirements, specifications, and objectives are closely related concepts, they follow the identification of needs. Requirements derive from needs and detail what the system must achieve; specifications provide a more technical description of how those requirements will be met; and objectives generally refer to the goals intended to realize certain outcomes. Thus, needs are foundational to the systems engineering process and focus on the gaps that stakeholders wish to address.