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Business Analysis > AI Flashcards > Flashcards

AI Flashcards

1
Q

What does PESTLE analysis stand for?

A

Political, Economic, Socio-cultural, Technological, Legal, Environmental

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2
Q

What are the six key areas identified in PESTLE analysis?

A
  • Political
  • Economic
  • Socio-cultural
  • Technological
  • Legal
  • Environmental
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3
Q

What are the three variations of the PESTLE analysis technique?

A
  • PEST (political, economic, socio-cultural, technological)
  • STEEPLE (socio-cultural, technological, environmental, economic, political, legal, ethical)
  • PESTEL (political, economic, socio-cultural, technological, environmental, legal)
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4
Q

What is the purpose of the PESTLE analysis technique?

A

To identify the sources of change

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5
Q

What does Porter’s five forces analysis examine?

A

Competition within the business domain or industry

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6
Q

What are the five categories examined in Porter’s five forces analysis?

A
  • Industry competitors
  • Potential entrants
  • Substitutes
  • Buyers
  • Suppliers
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7
Q

What is Ansoff’s matrix used for?

A

Defining business strategy

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8
Q

What are the four quadrants in Ansoff’s matrix?

A
  • Market penetration
  • Market development
  • Product development
  • Diversification
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9
Q

What is the purpose of the growth share matrix?

A

To aid portfolio management and assess an organization’s products and services

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10
Q

What are the four quadrants in the growth share matrix?

A
  • Star
  • Cash cow
  • Question mark
  • Dog
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11
Q

What does the resource audit analyze?

A

Key areas of internal capability

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12
Q

What are the key areas analyzed in a resource audit?

A
  • Financial
  • Physical
  • Human
  • Reputation
  • Know-how
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13
Q

What is the purpose of VMOST analysis?

A

To analyze an organization’s vision, mission, objectives, strategy, and tactics

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14
Q

What does VMOST stand for?

A

Vision, Mission, Objectives, Strategy, Tactics

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15
Q

What are the elements of VMOST?

A
  • Vision
  • Mission
  • Objectives
  • Strategy
  • Tactics
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16
Q

What does VMOST stand for?

A

Vision, Mission, Objectives, Strategies, Tactics

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17
Q

What are the factors to consider when applying VMOST analysis?

A
  • Is there a defined VMOST for the organisation? Is it complete and consistent?
  • Is the VMOST sensible and achievable given the internal resources and external constraints?
  • Does the VMOST set out a clear direction and plan?
  • Are the elements of the VMOST coherent?
  • Are staff members aware of the VMOST and is it available to guide their work?
  • Do staff members work to deliver the VMOST?
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18
Q

What is a business readiness assessment?

A

The introduction of change into an organisation and the areas that need to be reviewed to ensure that change is possible.

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19
Q

What are the techniques covered in the business readiness assessment section?

A

Change deployment strategies, CPPOLDAT, Kanban board, Kotter change model, Kurt Lewin change model, McKinsey 7S, outcome frame

20
Q

What is the difference between benefits planning and management and benefits realisation?

A

Benefits planning and management involves managing the benefits during the entire project to maximize the prospect of achieving them. Benefits realisation involves ensuring the predicted benefits have been achieved and identifying additional required actions.

21
Q

What is a benefits review?

A

An evaluation conducted following the change deployment to assess how well the benefits have been managed and learn lessons for future projects.

22
Q

What is a feedback grid?

A

A method to obtain the views of those who have been subject to the business changes.

23
Q

What is a project review?

A

An evaluation conducted following the change deployment to assess how well the project has been carried out and learn lessons for managing future projects.

24
Q

What are the different change deployment strategies?

A
  • Direct changeover
  • Parallel running
  • Pilot implementation
  • Phased deployment
25
Q

What are the advantages of pilot implementation as a change deployment strategy?

A
  • Offers a way of evaluating changes while having the assurance of continued operation of the organization
  • Provides a low-risk way of evaluating changes and obtaining feedback
  • Enables the introduction of corrections or improvements prior to more extensive deployment
  • Ensures continued ability of the organization to deliver services to customers
26
Q

What are the advantages of phased deployment as a change deployment strategy?

A
  • Provides a means of deploying high priority or urgent changes earlier
  • Reduces the risk of problems as only part of the solution is placed into operation
  • Allows for gradual transition to the new ways of working
  • Provides a less onerous way of reversing the changes
27
Q

What factors should be considered when deciding the most applicable deployment strategy for proposed business changes?

A
  • Organisational drivers
  • Strategic context
  • Risks associated with the project
  • Level of senior stakeholder support
  • Extent of business actor support
  • Impact of the changes upon the organisation
  • External imperatives driving the changes
  • Culture of the organisation
  • Financial basis for the change deployment
  • Option of an available partial deployment
28
Q

What is CPPOLDAT?

A

A framework for exploring business readiness for change that includes several dimensions to be considered when assessing an organization or business area’s level of readiness.

29
Q

What does CCPOLDAT stand for?

A

Context, Customer, Purpose, Outputs, Look and feel, Data, Application, Technology

30
Q

What is the Customer dimension of CPPOLDAT?

A

The recipients of the outputs from the organization or business area, including internal and external customers.

31
Q

Who are the stakeholders involved in change deployment?

A

Internal stakeholders: Colleagues within the project or development team, colleagues within related change disciplines, colleagues within the operational teams, managers and executives. External stakeholders: Consumers of the products or services offered by the organization, partner organizations.

The stakeholders need to be assessed to determine their readiness for the changes.

32
Q

What aspects should be assessed to determine the readiness of the product?

A

The readiness of the product should be assessed in terms of its deployment, such as identifying aspects that need further work to ensure smooth deployment.

The assessment should ensure that the product is ready for deployment and any necessary improvements are made.

33
Q

What should be considered when reviewing the processes?

A

The BA should review the processes with customer representatives to ensure that they cover all required tasks, and evaluate the alignment between the processes and the value streams/business process architecture for the organization.

This review should also consider the availability of supporting documents or guidance for the processes.

34
Q

What should be assessed when reviewing the roles and management structures?

A

The roles and management structures should be defined and aligned with the organizational culture. The readiness of the staff to accept the changes should be assessed, and additional clarification or support should be provided if necessary.

35
Q

What aspects should be reviewed when considering the location?

A

The physical venue, furniture, equipment, and communications infrastructure should be reviewed to ensure that the location is set up for the change deployment.

36
Q

What should be assessed regarding the data and information needed to deliver the products or services?

A

The availability of the required data and information should be assessed, and any gaps addressed before the change deployment. Data migration should also be considered, including the assessment of existing data and the need for data quality improvement.

The assessment should ensure the alignment with the data architecture for the organization.

37
Q

What aspects should be reviewed when considering the software products required to support the work of the organization?

A

The required software products and the interfaces between them should be reviewed to ensure that the necessary interactions are in place. The alignment with the applications architecture for the organization should also be considered.

38
Q

What aspects should be assessed when reviewing the technology infrastructure?

A

The availability and readiness of aspects such as hardware, wiring, networking, and storage should be assessed. The alignment with the infrastructure architecture for the organization should also be considered.

39
Q

What is Kanban and what are its core properties?

A

Kanban is a technique that optimizes work in progress (WIP) and supports incremental and evolutionary product or service development. The five core properties of Kanban are: visualizing workflow, limiting work in progress, measuring and managing flow, making process policies explicit, and using models to recognize improvement opportunities.

40
Q

What are the errors that need to be overcome for a change project to succeed according to John Kotter?

A

The errors that need to be overcome for a change project to succeed are: too much complacency and a lack of urgency, a lack of a coalition of powerful stakeholders driving the changes, failing to have a driving vision, insufficient and inappropriate communication, allowing problems and obstacles to derail or hinder the project, failing to seek out and achieve short-term wins, declaring too soon that the project is complete and a success, failing to embed the changes within the organization.

41
Q

What is the first stage of Kurt Lewin’s change model?

A

The first stage of Kurt Lewin’s change model is ‘unfreeze’, which involves changing the balance of forces that are against the change and revising the current mindset.

Unfreeze process helps stakeholders accept that the current working practices are going to change.

42
Q

What is the second stage of Kurt Lewin’s change model?

A

The second stage of Kurt Lewin’s change model is the ‘transition’ stage where the change itself takes place.

43
Q

What are the three stages of the change process?

A

Unfreeze, Transition, Freeze

44
Q

What are the negative forces identified during force-field analysis?

A

Inertia and complacency

45
Q

What is the purpose of the unfreeze stage?

A

To help stakeholders accept that current working practices are going to change

46
Q

What can the transition stage involve?

A

Confusion and uncertainty as old ways of working are removed

47
Q

What needs to be done during the freeze stage?

A

Embed the change and make stakeholders feel at ease with new working practices

Business Analysis (1 decks)

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