Jan 07

Steps Involved in Business Analysis

Business Analysis

Step 1: Background Information

Its critical for a business analyst to collect an extensive of background information on the project. This information includes domain information (which industry the project belongs to). Business analyst should spend time researching essentials of that industry and terminologies used.

Thorough knowledge of the background of a project and documenting it allows the precise journey mapping. It also helps understand other interacting aspects of the business and their functions.

Step 2: Stakeholders mapping

The stakeholders are key decision makers and are responsible for assigning requirements and priorities. Therefore, mapping all relevant the stakeholders during initial phases is important Stakeholders may include partners, customers, competitors etc.

Step 3: Business Objectives

Penning down the business strategy and objectives will help the business analyst and project managers stay focused on the overall vision and subsequent project scope definition. Scoping the objectives also helps in outlining the resources required to achieve those objectives.

Step 5: Scope Definition

Based on the objective of the project, following step should be to define the scope of the project. A list of project deliverables and outcomes is included in the scope along with the aspects of the project that are not included.

Step 6: Business Analyst milestone delivery plan

The business analyst will prepare a detailed timeline for the project and assign certain milestones to the timeline. The stakeholders can then follow this plan and assign resources accordingly.

Step 7: Project Requirements

The next step is to outline project requirements which may be functional and non-functional. These requirements are gathered by interviewing stakeholders.

Step 9: Evaluate Value Added by Project

Its critical to maintain the business objective through constant evaluation of project business outcomes needs to be maintained. The evaluation will include traffic light reviews, ROI evaluation

The progress is evaluated against the timeline and business objectives.

Based on the progress and feedback, the business analyst may suggest any modifications or initiatives that will assist in realigning the implementation phase with business objectives. If the opportunities arise to engage more stakeholders, it should be pursued.

Overall, the business analysis phase is very critical for planning and successful execution of the project ideas. Thus, it is imperative to put as much detail during this phase as possible. This phase will set tone to the rest of the project and will ensure timely and successful completion of the business objectives as well.

List of Business Analysis Courses

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