How important is effective requirements elicitation on the eventual success (or failure) of a project?

Please answer the following questions. One to two paragraphs should be sufficient for each question.
1.Perform some basic research and then answer the following question how important is effective requirements elicitation on the eventual success (or failure) of a project? Defend your answer with any examples you find in your research or personal experience.
2.One of the article choices lists the top ten traps to avoid when eliciting requirements. Which of these do you feel may be the most prevalent? What are the potential impacts if this trap is fallen into?
3.There are so many choices on how to elicit requirements. What factors need to be considered to choose the most appropriate method or methods?
4.One of the potential issues that can be encountered at this stage of the project is analysis paralysis. What does this term refer to? What impacts can happen if a team gets stuck in this trap