Business analysis tools and techniques


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WATCH RELATED VIDEO: The Most Valuable Business Analysis Techniques and the Tools To Do Them

Business Process Analysis: Definition, Tools & Steps


Skip to content. There are a wide variety of techniques which can be used to help develop ideas and thinking in a programme or project management environment. Many of these tools have been around for a long time and originated in areas not directly related to PPM. Some of the tools and techniques that can be used in programme and project management are outlined below.

SWOT analysis diagram. A SWOT analysis can be used to draw out the threats and opportunities facing a programme or project. It has the advantage of being quick to implement and is readily understood. Analysis of the strengths, weaknesses, opportunities and threats brings together the results of internal business analysis and external environmental analysis. Common and beneficial applications of SWOT are gaining a greater understanding and insight into competitors and market position.

A similar and related form of analysis is known as PEST, examining political, economic, social and technological factors. A RACI diagram is used to describe the roles and responsibilities of the participants in a business or project activity in terms of producing predetermined deliverables. RACI is an acronym formed from the four participatory roles which are:. Stakeholder matrix.

A stakeholder matrix is used to map stakeholders in terms of their importance and potential impact on programme or project activity. Stakeholders are the individuals or groups who will be affected by an activity, programme or project. They could include:.

The key objective is to capture, align, record, sign off and deliver stakeholder objectives. One way of prioritising this activity is to use a stakeholder matrix. Cause and effect diagram. Also known as fish-bone diagram, a cause and effect diagram can be used to represent event causes and potential impacts. It is a graphical representation of the causes of various events that lead to one or more impacts. Each diagram may possess several start points A points and one or more end points B points.

Construction of the diagram may begin from an A point and work towards a B point or extrapolate backwards from a B point. This is largely a matter of preference. Risk map with RAG status. This is a simple representation of risk in terms of likelihood and impact. It requires that the probability of a risk occurring is classified as low, medium or high, with a similar classification for the impact if the risk materialises.

A combined risk classification of high probability and high impact if the risk occurs is clearly an important risk. The classification can be extended to include very low and very high. Summary risk profile.

A summary risk profile is a simple mechanism to increase the visibility of risks. It is a graphical representation of information normally found on an existing risk register. In some industry sectors it is referred to as a risk map.

The project manager or risk manager needs to update the risk register on a regular basis and then regenerate the graph, showing risks in terms of probability and impact with the effects of mitigating action taken into account. It is essential for the graph to reflect current information as documented in the risk register. The profile must be used with extreme care and should not mislead the reader. If an activity has over risks it will be impractical to illustrate all of the risks.

It will be more appropriate to illustrate the top 20 risks, for example, making it clear what is and is not illustrated. A key feature is the risk tolerance line. It shows the overall level of risk that the organisation is prepared to tolerate in a given situation. If exposure to risk is above this line, managers can see that they must take prompt action.

Setting the risk tolerance line is a task for experienced risk managers. The parameters of the risk tolerance line should be agreed at the outset of an activity and regularly reviewed.

The use of RAGB red, amber, green, blue status can be useful for incorporating the status reporting from risk registers into risk profiles, and can provide a quick and effective means of monitoring. Example of a simple decision tree. A decision tree is a useful tool for enabling choice between several courses of action. It provides a highly effective structure within which options can be explored and possible outcomes can be investigated. It also helps to form a balanced picture of the risks and rewards associated with each possible course of action.

A decision tree is particularly useful when choosing between different strategies, projects or investment opportunities, particularly when resources are scarce. An example of a radar chart. Also known as a spider chart, a radar chart is a diagram that is used to show the number of risks that different projects are exposed to.

Initially, the data is placed in a table that is subsequently converted into a chart. In a radar chart, a point close to the centre on any axis indicates a low value and a point near the edge is a high value. For more information on any of these techniques please contact the Centre of Expertise for Programme and Project Management.

Programme and project management tools and techniques Topics: Programme and project management and assurance. Programme management Project management. Tools and techniques Some of the tools and techniques that can be used in programme and project management are outlined below. Related articles Introduction to programme management Introduction to project management Post programme or project review Programme and project business cases Programme and project change management Programme and project configuration management Programme and project issues management Programme and project management communication Programme and project management lessons learned Programme and project planning Programme and project portfolio management Programme and project quality management Programme and project risk management.



Business Analysis - Tools and Techniques

Business process analysis is an analytical technique to understand a work process and find ways to improve its efficiency. Read about 5 steps of BPA. More Content. What is Process Analysis? Business Process Management System. How to select a Process Improvement Method?

Analytical Techniques for Business Analysis (IIBA - ECBA)36 lectures • 3hr 14min · Section Overview. Preview · Benchmarking and Market Analysis.

An overview of the Business Analyst toolbox

Skip to content. There are a wide variety of techniques which can be used to help develop ideas and thinking in a programme or project management environment. Many of these tools have been around for a long time and originated in areas not directly related to PPM. Some of the tools and techniques that can be used in programme and project management are outlined below. SWOT analysis diagram. A SWOT analysis can be used to draw out the threats and opportunities facing a programme or project. It has the advantage of being quick to implement and is readily understood. Analysis of the strengths, weaknesses, opportunities and threats brings together the results of internal business analysis and external environmental analysis. Common and beneficial applications of SWOT are gaining a greater understanding and insight into competitors and market position.


Mastering the Techniques for Business Analysis: An Insider’s View

business analysis tools and techniques

Students in the MBus 24 program are not permitted to enrol in this course. This course introduces students to the different types of information that managers and other decision-makers gather, and the tools used to analyse that information for effective business decisions. It provides an overview of the extensive range of strategic and operational frameworks drawn from fields such as strategic management, financial management, marketing, human resource management, supply chain management and international business. The purpose of this comprehensive toolkit course is not only to provide students with a wide range of the necessary business analytical tools, but also to integrate these tools into a more complete and meaningful package that can be used as a portable toolkit for ensuing courses, and across their post-study career.

The Business and Systems Analysis: Principles and Practices course will provide participants with the necessary understanding of business analysis principles and processes, and the tools and techniques used to identify, develop and implement innovative processes to tackle areas of weakness within a business.

BA Techniques

Business Analysis Analytical Techniques distinguish between benchmarking and market analysis characteristics identify the steps in document analysis distinguish between scope modeling and state modeling identify process modeling characteristics identify process analysis characteristics identify the types of organizational models recognize interface definition elements distinguish between data flow diagram elements identify considerations for data mining identify considerations for data modeling recognize prototyping methods identify risk analysis and management characteristics recognize appropriate financial analysis techniques distinguish between characteristics of root cause and SWOT analyses recognize the differences between decision modeling and decision analysis demonstrate your understanding of analytical techniques for effective business analysis. In order to carry out this analysis, a business analyst must understand and regularly use analytics tools and models to help in the scoping, planning, and decision-making process. In this course, you'll learn some key principles covered in the business analysis body of knowledge BABOK framework, which explains the business tasks that must be performed to deliver a solution that provides value for an organization. This framework includes effective techniques that you can use when analyzing the business environment your organization operates in.


Business Analysis Tools and Strategies

In this article, we will take you through the business analysis process that can be applied to any work environment or project size. You may be wondering what is expected of you, what your deliverables are and how you can guarantee success in the project at hand. While it can be a nerve-wracking task, there are a few key steps to follow to ensure the process goes smoothly with minimal errors. Business analysis is the discipline of identifying business needs, reviewing them, and finding solutions to various business-related problems. By focusing on successful business analysis processes, you can better understand how your organization functions, identify business needs and develop solutions to meet these needs.

All of black-job.net's courses and expert instructors are now on LinkedIn Learning. See all topics. Business Analysis: Essential Tools and Techniques.

Course details

Business Analyst is a person who analyses, understands and ensures the requirements for the business growth by reforming its policies, internal process, and information system completely. The business analyst makes positive changes by understanding the business problems, recommends the solution and increases the return on investment for projects. It will help to modify the processes , products , services , and software in order to achieve the company's goals. Business analysis is the task full of ideas, knowledge, and information required to recognize business needs and solutions.


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I was recently working with a client who said that the life of a BA in his organization is complicated, primarily because very few people really understand what Business Analysts BAs do. To address this issue as a BA practitioner, I try to keep the following questions top of mind as I practice the art of business analysis:.

Business process analysis tools are primarily intended for use by business end users looking to document, analyze and streamline complex processes, thereby improving productivity, increasing quality, and becoming more agile and effective. These tools also support the roles of business process architect and business process analyst, and enable them to better understand business processes, events, workflows and data using proven modeling techniques. BPA tools permit users to diagram their processes, noting generally abstracted rules or specifications to promote understanding, validate this information using standard methodologies and best practices enabled by the software, and ideally, automate the models into deployable applications that leverage their analytical efforts and comply with the business process rules. BPA tools feature the following functionality:. Download eBook. Join your peers for the unveiling of the latest insights at Gartner conferences.

Hi all, I have wanted to put together a consolidated set of approaches and tools for sometime now so I've finally put it together; a few techniques I've learnt which when you put them together, are a comprehensive way of applying business analysis in a logical sequence to ensure you build from the problems right through to delivery. The focus in this article is around either process or technology based solutions but the methods up until that point are applicable to any type of opportunity to make improvements to your business. The first step is identifying a group that we want to help solve a problem for. Beyond reaching a consensus within a team setting, try not to design by committee, the consensus approach trying to please everyone invariably results in the average of everyone nobody really that pleased with the end result.


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