Business analysis planning and monitoring

Business analysis planning and monitoring

Question 1) What is business analysis planning and monitoring?

Answer The business analysis planning and monitoring knowledge area describes the process how a business analyst determines which activities are needed to complete the business analysis effort. The tasks in the business analysis planning and monitoring area determines the key tasks of business analysis in other knowledge area. The following chart illustrates the key tasks that are included in business analysis planning and monitoring knowledge area.

Question) What is plan business analysis approach?

Answer It is the method how a business analysis activity is implemented to get the business analysis outcome. It describes the holistic approach that must be obeyed while performing the business analysis activities. It gives the idea how and when the tasks of business analysis planning and monitoring are performed and what sequence is followed while performing those tasks. At the starting business analyst set up the techniques that are used in beginning but by the passage of time business analyst may put some change sin the initial techniques as they get some understanding about the analysis approach. The business analyst must include the following key things in their business analysis approach.

·         They must include some strategy to handle the crises that may mitigate the quality of business.

·         They must put their long term overall aims into a list.

·         They must use the tolls and techniques that were used in the past and worked well.

Question) What are some techniques of business analysis?

Answer The following are some techniques that are used in business analysis.

·         Brainstorming: -It is the creative technique that are used in business analysis in which a group of two or more people sit together and generate ideas and proposing solutions to the problems. It is one of the most popular technique amongst business analyst these days.

·         Swot Analysis: -In swot analysis ‘S’ stands for strength and ‘W’ stands for weakness and these are the internal factors. ‘O’ stands for opportunities and ‘T’ stands for threat and these are the external factors. It is the four-quadrant analysis for business analysts. It is the best approach to determine their strengths weaknesses, Opportunities and threats.

·         Most analysis: -Most analysis is the most popular technique among business analysts. By using this analysis business analysts analyze what an organization does to achieve their goals .Also, it is the best way to plan their strategy.

·         Objects: -Business analyst have to consider the bunch of goals as an objective. Objective must be SMART.

In SMART ‘S’ stands for specific means objectives should focus in specific area.

‘M’ stands measurable means it should be quantifiable.

‘A’ stands for achievable means the objectives should be realistic and based on the available resources in the organization.

‘R’ stands for Realistic means goals should be real and exists.

‘T’ stands for timely means goals should be time bound.

Question 4) What is the stakeholder analysis in business analysis?

Answer Stakeholder analysis involves who are the stakeholders for this organization means who is being affected by the business activities of the organization and what are the obligations an organization have to them. It also involves what are the impacts of quality changes of an organization are being imposed on the stakeholder. If it is a negative impact means stakeholder are dissatisfied with the quality change the organization have, then it is the organization responsibility to find the possible solution. Stakeholder analysis also an analysis of stakeholder needs means what are the expectations of the stakeholders from an organization and it must be satisfied for business success.

Question) How Stakeholder collaboration and engagement is important in business analysis activities?

Answer Ensuring the effective collaboration of stakeholder in business activities is a key to business success. Business analyst must listen the voice of the internal and external stakeholder and provide services as per their needs. Business analyst may plan different approaches for internal and external stakeholders but make sure that their interest and engagement is maintained throughout following approach. A stakeholder must be listen when he or she is engaged in business activity.