Are all requirements created equal? How do I prioritize requirements?

I've collected a lot of requirements from the project stakeholders. Some seem important and others less so, but I'm not sure what that means to how I should handle them. Are all requirements created equal, and if not, how do I prioritize them?
Just because requirements are, well, required, doesn't mean they're equally required. Some requirements are more valuable—more directly related to achieving the business goals of this effort. In fact, some requirements aren't actually required at all. Requirements that deliver greater business value are more important than those that provide less value; that's the golden rule for evaluating requirements.

When requirements bump shoulders at the door, which one should you let through first?

End-user requirements may trump other kinds if, for example, the end user's day-to-day user experience has higher priority than competing factors suggested by developers or others. Efficiencies in day-to-day usage patterns may bring needed cost savings. Or perhaps a requirement improves customer satisfaction and therefore outweighs the requirements of internal system users. Here, the criterion is that satisfying the customers is more likely to generate increased business and revenue than a requirement that merely scratches someone else's itch. Financial and compliance requirements that improve reporting or other key functions would usually outweigh requirements that don't protect against financial exposure from non-compliance.

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