Micheal,
A requirement is what is laid out on paper for the project, but the expectation could be very different.
If you've ever tried to design a website for someone, you have experienced this. They will give you the technical requirements of what they want it to have, but everytime you present it to them, they say it's not what they wanted. It's important to understand the expectations of a stakeholder, and then negotitate the expectations into realistic requirements.