The prediction of fault-prone modules in a software project has been the topic of many studies. In this paper, we investigate whether metrics available early in the development lifecycle can be used to identify fault-prone software modules. More precisely, we build predictive models using the metrics that characterize textual requirements. We compare the performance of requirements-based models against the performance of code-based models and models that combine requirement and code metrics. Using a range of modeling techniques and the data from three NASA projects, our study indicates that the early lifecycle metrics can play an important role in project management, either by pointing to the need for increased quality monitoring during the development or by using the models to assign verification and validation activities.