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Requirement Elicitation identify as one of the most crucial knowledge intensive activities of software development. Most of the system fails due to use of wrong elicitation practice. A requirement is defined as a demand or needs. A System may have a dozen to thousands of requirement. Without the Elicitation technique it is impossible to find out the requirement and need of developing system. After Elicitation Technique we need to prioritize their requirements. This Research paper is based on understanding technique and their usage in the real time applications by using the Elicitation Technique and Prioritization Technique we know that it is important for knowing the need of the stakeholder so that the system developer can get a clear view of requirement for the developing system.