The variety of design artifacts (models) produced in a model-driven design process results in an intricate relationship between requirements and the various models. This paper proposes a methodological framework that simplifies management of this relationship, which helps in assessing the quality of models, realizations and transformation specifications. Our framework is a basis for understanding requirements traceability in model-driven development, as well as for the design of tools that support requirements traceability in model-driven development processes. We propose a notion of conformance between application models which reduces the effort needed for assessment activities. We discuss how this notion of conformance can be integrated with model transformations.