The specification of the end product is always a topic on which to break the spear. The functional specification is not something that should be placed within the reach of the project, but a more detailed clarification of what is written in the initiation of the project (that is, depending on how the project began, whether as a tender or a request for a proposal) is certainly something that should be placed here.
In contrast to the specifications of the end product, the final delivery is pretty easy to define—and this is just considering what the user wants to achieve at the end of the project.
If all the conditions (objectives) of the project are met, the user will complete the project and probably confirm some sort of transfer record, which will incorporate the review of the final delivery of the project and the signatures of stakeholders.
If the conditions are satisfied, the organization at this point may not know what resources are needed for the project, what technology will be applied, and how long a project will last, but looking at the business aspect, it's quite clear what benefits the organization will receive. However, that does not mean that certain elements, such as price, duration, and performance of the project will not be listed in this document—on the contrary, these are mandatory elements of the project. But unlike individual plans that cover these items, here, they can be shown at a high level—the total price without breakdown structures, indicative of the project's duration in time/material or calendar months, and so on.
In the end, as important as it is to include all the elements that belong to the project, it is equally important to exclude those elements that the project will not cover. Why is this important? At this stage, this is perhaps not clear, but when the user deals with uncontrollable demands during the project to expand its functionality, you will remember that the what this project does not include list is actually your best guarantee of defense against failure of the project and business owners usually state we thought that this implies while providing clarity about on what exactly the project will deliver.
Finally, once you have all the elements of the project's reach, it is necessary to confirm the document. This generally refers to a formal document signed by all concerned parties of the project—users, contractors, supervisory authorities, and so on.
It is important to understand that such a signed document is the basis of the project. If anything changes in the project, it is amended to document the changes, then it causes changes to the project's parameters.