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Validation is the process of comparing a product to its high level requirements.
Verification answers the question, "Did we build the product correctly?"
Verification is the process of comparing a work product with its parent specification or a standard for the purpose of detecting errors. Thus design is verified by comparing it with the requirements and code is verified by comparing it with the design. There are four basic methods of verification: inspection which involves the visual comparison of two items, test which is an exactly reproducible method of comparing expected behavior to actual behavior, demonstration which is like testing but not exactly reproducible, and analysis which is the application of statistical methods to processes that do not produce repeatable results (e.g. a random number generator). Verification answers the question, "Did we build the product correctly?"
Validation is the process of comparing a product to its high level requirements. Thus using a validation method to determine if a system does what the requirements said it should is validation. The same methods used for verification can also be used for validation. Validation answers the question, "Did we build the correct product?"