Final answer:
Requirements management tools are designed to manage, prioritize, and trace requirements throughout a project lifecycle, ensuring all needs are met and can be validated.
Step-by-step explanation:
The tool that stores requirement statements, checks for consistency, allows requirements to be prioritized, and enables individual tests to be traceable to requirements, functions, and features is known as B. Requirements management tools. These tools are designed to manage requirements through the lifecycle of a project, ensuring that all requirements are met, and that there is traceability from the requirements to the test cases. This traceability is crucial for ensuring that the developed system meets all the defined requirements and provides the ability to verify and validate the system accordingly.