How much RAM is required depends on the Windows OS and
how memory is allocated to it.
With Parallels or any other virtualization software you setup how
much RAM the virtual machine has and also how much "virtual
VRAM" the virtual machine has which uses up system memory.
So, whatever system RAM requirements are for the Windows OS
being installed you will need at least that much plus at a minimumm
256 kilobytes for useable video. Also, as OS requirements are usually
for the absolute minimum RAM to function, you will want to add some additional.
So, bottom line, if you want to run virtual machines, I suggest upgrading to
8 GB of RAMfor smooth operation of VMs and coexisting OS X apps.