Business Analysis

Understanding Business Processes

Assessing and Analyzing the Business Environment

Business Objectives

The goal of successful business is to generate revenue. The revenue is only generated when the business offers unique product or services in a competitive manner. Competitiveness can only be achieved when correct processes are in place.

Performance

No matter how successful a product or services may sound or perceived - the performance of business networking or marketing and continuing R&D will define it's fate in real world. A performance check can expose business's shortcoming and room for improvements. 

BRD

Every business should be clear about what they want to achieve. Business Requirements Document (BRD) indicates that. BRD indicates all the project deliverables - inputs and outputs of each process function. Process function defines the Critical to Quality (CTQ) parameters. 
BA @ The Heart of Operations

Business Analyst's core focus is business requirements. FRD is drafted for project to ensure all business objectives are implemented and all the requirements are achieved.

An ideal business requirement document

A summary statement


The executive summary is the outline of the requirements of the project. The best time to formulate a summary statement is once the BRD is written completely.


Project objectives


The project objectives should be written in a SMART format which implicates they must be specific, measurable, attainable, realistic and time-bound.


Needs statement


The needs statement outlines why the project is needed for the business and how the project will be able to meet the needs.


Project scope


The project scope outlines what to be included and what should not be included.


Financial statements


The financial statements indicate the impact of the project on the company’s balance sheet and revenue over the specific period of time. This also holds the information on the funding of the project and how it would be done.

Functional requirements and corresponding features

This part will include diagrams, charts, and timelines.


Personal needs


This section covers the human resources aspect of the project. Who needs to be hired and when the hiring needs to be done. It also covers the cost of the resources.


Schedule, timeline & deadlines


Each phase of the project is covered in detail in this section.  This helps to ensure that all stakeholders are aware of what is required and when it will be required.


Assumptions


The assumptions outline anticipated events that would occur during the course of the project.


Cost & Benefit


This section holds a detailed list of all the costs involved in the project along with the cost-benefit analysis.  The savings from the project are also listed here.

The first phase of starting a project

  • To get an agreement among stakeholders.
  • Communicate to the technology server provider, the business needs, the customer needs, and what the solution needs to do to satisfy business and customer needs.
  • To determine the input to the next phase of the project.
  • Describe in details of the needs of the customer and business that the solution intends to meet.

Difference between BRD & FRD

  • The Business Requirement Document (BRD) describes the high-level business needs whereas the Functional Requirement Document (FRD) outlines the functions required to fulfill the business need.  
  • BRD answers the question what the business wants to do whereas the FRD gives an answer to how should it be done.
  • FRD is derived from a BRD.

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