Question

can you answer this essay questions

1. Describe three of the key knowledge areas that define what a practitioner of business analysis needs to understand and the tasks they must be able to perform?

2. What does the acronym RFP stand for, describe the major elements of an RFP, and explain the advantages of using one?

Answer 1

1) Business analysis is a very wide term and the process itself can entail different tasks and skills depending on the process or project at hand. The core skills required for analysis are definable but need to be supported by other skills which are important for perfect use of the core skills. Also the key tasks are not a rigid process as in manufacturing but more a flexible and dynamic procedure where the order and dpeth of each task may need to be adjusted and re-aligned based on the inputs received, in order to achieve optimum results. As per BABOK(Business analysis body of knowledge) the key knowledge areas are analysis planning and monitoring of business, enterprise analysis, elicitation of all kinds through various techniques, requirements anaysis through obtaining thorough inputs, solutions analysis by co-relation and analysis of all the information obtained and relating to the main objective of the analysis, requirements management and communication by analysing the requirements are valid and the result of implementations suggested before communication, underlying competencies should be analysed and communicated to achieve optimum output from existing resources.

The key knowledge areas are based on the core concepts of business analysis which are in very wide terms: The stakeholders, the needs of the business, the changes needed, the assessment, providing solutions and creating value. Elicitation is a very important tool of analysis requiring excellent communication skills along with analytical and critical thinking. In any organisation the quantity of data available to support analysis can be very vast. To be able to decide on the method best suited for elicitation in the organisation and the correct analysis of the information obtained to be able to rightly assess requirements and provide the optimum solution can be crucial for successful analysis. The various methods for elicitation are brainstorming, observation, documents analysis, interviews, interactions, interface analysis, workshops historical data and any applicable means of obtaining reliable infromation. The analyst should understand the objective and accordingly decide on which methods should be utilised to obtain the most useful and reliable information. Reliability and utility should be the priority for elicitation methods selection.  

Requirements analysis is the analysis of the requirement or need of the stakeholder to achieve a goal or to solve a problem by gathering information on the requirement and analyse the same to arrive at the best applicable solution. The requirements of stakeholders may not be straightforward and clear also at times, requiring an analyst to delve deep into the processes to be able to identify the true requirement. The analyst should be competent to identify and understand ambiguity and lack of focus in a requirement. For example a requirement stating a need for growth may not require focus on promoting growth but idntification of attitudes, incompetencies or behaviours causing stagnation.

Solution assesment and validation is one of the most important key tasks as this is the reason for the existence of analysis. The stakeholders are not interested in identification of problems, they may be aware of their existence, they need solutions. This is the single most important ability a business analyst needs to possess, to be able to come up with perfect solutions which are workable and easy to implement. Let us consider the previous example, the solution would entail thorough analysis of the processes of procurement, inventory, marketing, advertising, sales and customer service besides product range and competition. The analyst needs to understand the objective very clearly to be able to define core areas of analysis, else it can become an extensive research project with no end and no tangible results and solutions. Flexibility is key as a wrong method should be diagnosed and eliminated at the earliest and approach modified along the way based on inputs received. Finally,the solution should be satisfactory for the stakeholdor and should meet the needs of the business and be the optimum response to the defects identified by the analyst. It should meet the requirements defined by the stakeholder and any additional requirements identified by the analyst, which are communicated to and approved by the stakeholder. It is essential the analyst understand that the stakeholder's requirement is the focus and the scope of analysis should be within this framework to ensure satisfaction.

2) The acronym RFP stands for Request for Proposal and is a document which solicits proposals for a requirement as defined by the by the company requiring a product, service or solution. The document defines all aspects of the requirement in detail with terms and conditions and even eligibility criteria at times and invites proposals from firms capable of supplying in accordance with the terms and conditions, through written quotations. This is mostly through a bidding process. some major elements of RFP are project goals, project description, target audience, project requirements, request for references, eligibility through experience and project deliverables. RFP has many advantages over other forms of procurement. This is the best method to get the lowest price. Even if the contract is not given to the lowest bidder it provides excellent information on price range and helps in leveraging with selected contractor. The scope of work is clearly defined so no issues arise due to ambiguity and consequent misunderstanding on part of the contractor. The project scope and description enables it to be addressed to a target audience who match the eligibility criteria. It ensures that a project is well-planned and defined as also executed by the most eligible contractor for achieving optimum results. the best pricing is received as RFP forces contractors to be more competitive in order to win the contract. References and prior experience ensure the contractor has the ability and capability to deliver excellent results. In short, it is selection of best of the best not one of the best, as the information received through proposals serves as a wonderful input for arriving at an informed decision on who should be awarded the contract keeping in mind company goals and requirements. It's a readymade garment with a tailor-made fit.