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Here's What No One Tells You About Business Analysis Monitoring

Business Analysis Monitoring comes into picture once business analysis planning is achieved. The business analysis monitoring focuses on determining that the business plan activities are performed effectively and overall delivery is not being impacted. Now the question comes how do you keep a check on business analysis plan?

So here Business Analysis Monitoring plays a major role because it keeps a check on the analysis which is being done, tracks down equal participation of all the stakeholders and see that all the information is being managed properly. The performance of analysis is constantly measured against business analysis and the proposed and approved business plan. Business Analysis Monitoring also maps any deviation which occurs during the journey of the business plan. In such cases, an alternative path is taken or corrective actions are being implemented. So Business Analysis Monitoring is equally important as business analysis planning for the success of the business project.

This blog will help you to understand the following details –

  • Identify Business Analysis Performance Improvements
  • Plan Requirements Management Process
  • Manage Business Analysis Performance

How to Identify Business Analysis Performance Improvements?

So with the overview what do you think? Why after following planning and monitoring business analysis it is required to identify the performance improvements of business analysis. It’s because it is the constant improvements and feedbacks which helps us to deliver the best in the market. The process of identification of business process improvement is applied to evaluate business analysis tasks and make the organization ready for any needed changes. There should be continuous check which can be recorded in a report format to have critical thinking on analysis which is performed.

There are various steps that need to be taken to identify the performance measures improvements. These are –

  • Establishment of performance measures
  • Conducting performance analysis with stakeholders
  • Report of business analysis which is performed
  • Identification of alternatives, workarounds, and proper corrective measures

To perform the above steps there are various elements that need to be done.

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  • Performance Overview – Whenever business analysis is being done for any business project, its weight is being measured in terms of performance it gave. Hence, performance and report analysis become of great importance in identifying the performance measure. Depending on the type of organization performance overview can be formal or informal. Performance Analysis utilizes a variety of techniques to judge the performance of business analysis for a business project.
  • Evaluation Measures – This performance matrix is based on the evaluation standards that have been set by any organization. The standards can be predefined and the same can be utilized for all business projects or it can be a dynamic evaluation based on feedback from stakeholders. There is some common matrix that is used for assessment and evaluation. Some of them are – Estimated Efforts, Delivery Timelines, Frequency in the change of requirements, User Stories details, Definition of Done and Stakeholder Inputs.
  • Outcome Analysis – Any business analysis has a definite goal during the initiation of the business project. This is what can be called as its ideal output or expected output. Most of the time it is the same, but sometimes it is not, or maybe it takes multiple iterations to reach to the expected goal of the business project. So, for this expected result is always compared to the actual result and iteration happens till all the stakeholders are satisfied. These inputs and iterations are nothing but constant improvements that are being done to have a flawless product out in the market.
  • Recommendations Actions – Based on many inputs, feedbacks, experiences all the recommendations need to be analyzed and appropriate actions need to perform. These are actions are used to make changes to the business analysis approach, processes and improvement steps.

Requirement Management Process - Way to Look Forward

The Requirement Management Plan is an important document in project management that helps to identify the details of requirements, its analysis, documentation and how they are being managed. Its focal point is how to manage the changes to any approved business requirements.

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As we had already studied in performance improvements that all these changes and management processes are handled via a set of iterations, even requirement management follows the same principle. These iterations help to ensure that elicitation, documentation, refinement, changes all are dealt with during the course of requirement lifecycle with a view of maintaining the overall success of the business project.

To manage requirements better, there should be a collective requirement process. These would include the following -

  • Opinions to be evaluated in a group of people.
  • To make everyone agree to a common point.
  • It should be a group decision where the majority should have one common point.

Let’s see what all details this plan comprises of :

  • There should be a high-level overview of any requirement which should clearly state the agenda of this particular project captured in a document.
  • The details of requirement analysis should be drafted as use-cases, the thought process, resolution, if any technical changes and other dependencies. Basically, this document can be short or a lengthy one because it captures so much data into it.
  • The details of tools and technologies should also be listed and kept for everyone to refer to. For example which framework is used, based on the scalability the language(Java, Python, etc) being used, schema changes, operating system, etc.
  • The requirement management process plan calls for tracking down all the details. With Agile so much into the industry, it has become so easy to keep its track. Confluence and JIRA have become very popular because of their versioning capability, agility, being volatile, and flexibility.
  • Based on the type of requirement, a state of confidentiality is very important. Not all requirements and the way they are managed can be disclosed. Some remain known only to the set of partners or associates involved. Example - Preparation of any project to crack a business deal.
  • This management process calls for transparent communication for stakeholders who are involved during the course of project development.

As though based on the organization’s there could be many types of requirement management process but in general, the below diagram would help you to understand the basic overview of this process. Please note in case of software or hardware challenges, the system needs to be upgraded and that also becomes part of the requirement. Such a change in the system would definitely need approval from senior management.

Business Analysis Monitoring

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Now, there might be reasons to manage the requirements. The diagram below shows it clearly -

With the study so far, we came to know so much about analysis to be done. But then any analysis needs to be rated so that there are improvements to it. That’s why it is important to measure the performance of business analysis for constant improvements. The performance matrix helps business analysts to broaden their thoughts and redefine their skill sets by widening it.

The performance assessment helps to determine the difference between the ideal output of business analysis and the actual output. The variances between two would help to judge which one would be better for the end result. Ideally, the agreed output by all the partners should also be the actual output. In that, analysis done by business analysts is rated very high, as he/she is capable of foreseeing the best suitable feature for the future.

The management of this performance measure includes how to track the analysis plan, engagement of partners and associates, documentation, report building for each activity, and feedback from end-customers.

Some of the basic elements involved in managing the performance :

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Performance Outlines

These are reports, essential factors as they show the graph of business analysis. They can be in written format, verbal, formal or informal depending upon the type of organization and management.

Feedbacks

Feedbacks from internal as well as external stakeholders actually give a viewpoint as to how requirements were followed. There are interviews done with clients to know their feedbacks and demo’s within the organization to understand their thoughts. Please make sure all feedbacks are captured in a written format. The reason being, they can be already known issues or over-expectations of the client which is not promised in the contract.

Input and OutPut

Input details would consist of planning, brain-storming sessions, documentation, use-cases, whereas output consists of the development, test-cases, quality of product and organized walkthroughs. All of these needs to be in sync to generate a very high-quality product.

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Conclusion

Thus, it would have been clear why business analysis monitoring is important and how it is being achieved. Business Analysis Monitoring is like a catalyst in the entire analysis and project management journey, increasing the quality of the overall product. So concisely, it helps to maintain the discipline of business needs while validating that none of the business goals are disturbed. With this note, I wish you had a great learning experience with us. Continue expanding knowledge and Happy Learning!!




    Nidhi

    I believe in knowledge sharing and bringing change in people's lives. As a business analyst by profession, I love to explore everything about the way businesses should drive. I keep in touch with the latest business analysis updates.


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