Business Analysis. The process of rectifying and analyzing mistakes among projects in a company is what is referred to as business analysis. It is a three step process that begins with identifying needs in the organization, then coming up with appropriate solutions and later implementing the most suitable ones. Business analysis techniques are applied to develop an appropriate plan and then put it in to action. Organizations face a lot of business risks, so in order to avoid project failures they mainly do business analysis. The person who is tasked with the responsibility of studying projects, identifying risks and coming up with new ways of avoiding risks is referred to as a business analyst. Most of the times, organizations do not consider the risks associated with a project before starting it which inevitably leads to project failure. Hence it is necessary for an organization to contemplate and be very sure of the project before going into the project. Business analysis therefore involves analyzing and influencing three key business aspects as explained below: Strategy of the business-it’s an analysis of the company profile and implementation of strategies based on it.
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Organizational Architecture involves analyzing actual operations, such as the objects and resources already assigned by the company to facilitate running of the operations.
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Systems of the business-the information systems in the business are analyzed and the various changes required are defined. In order to advance ones career and reap benefits of reduced project costs and durations, it is vital for one to undergo a good business analysis training. However, in order to reap the benefits, the business analyst should first understand the project goal. The reasons behind project initiation provide vital insights towards understanding a project. It will help in defining the objectives more clearly and designing strategies accordingly. Most organizations task thir professionals with the responsibility of making decisions even when they are not proficient in the said fields and therefore resulting to unwise decisions being made. As a result of which projects tend to fail. There is need for organizations to ensure that it is the right people who make these decision. The need for organizations to hire a professional business analyst comes in here to fill the gap. The professionals in the organization are therefore only tasked with the responsibility of coming up with an idea and then passing it to business analyst to determine whether it is feasible or not. Once the business analyst has met with the initial parties, they must then analyze important data related to the business such as business records, operating manuals, business guides and other pertinent documents. in conclusion, it is worth to note that business analysts are very vital for any business as they ensure that company resources are utilized in the most efficient manner.