Budget Analysis

Business analysis helps an organization to improve how it conducts its functions and activities in order to reduce overall costs, provide more efficient use of resources, and better support customers. It introduces the notion of process orientation, of concentrating on and rethinking end-to-end activities that create value for customers, while removing unnecessary, non-value added work. The person who carries out this task is called a business analyst or BA.

Those BAs who work solely on developing software systems may be called IT Business Analysts or Technical Business Analysts.

Business analysis, as a discipline, has a heavy overlap with requirements analysis, but focuses on identifying requirements in the context of helping organizations to achieve strategic goals through internal changes to organizational capabilities, including changes to policies, processes, and information systems.

Some professional business analysts believe that business analysis can be broken down into six major knowledge areas:

Enterprise analysis focuses on understanding the needs of the business as a whole, its strategic direction, and identifying initiatives that will allow a business to meet those strategic goals.

Requirements planning and management involves planning the requirements development process, determining which requirements are the highest priority for implementation, and managing change.

Requirements elicitation describes techniques for collecting requirements from stakeholders in a project.

Requirements analysis describes how to develop and specify requirements in enough detail to allow them to be successfully implemented by a project team.

Requirements communication describes techniques for ensuring that stakeholders have a shared understanding of the requirements and how they will be implemented.

Solution assessment and validation describes how the business analyst can verify the correctness of a proposed solution, how to support the implementation of a solution, and how to assess possible shortcomings in the implementation.

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