CAP Business Problem Framing Flashcards
Business problem statement
A clear description of the issues, typically including the vision, issue statements, and approach; often includes purpose, scope, perspective, likely methodology, and project team
Inside-out approach
Method for developing a business problem statement that starts with interviewing key managers to draft decision hierarchy and problem statement, continues with interviews of key stakeholders and modifications of drafts, and iterates until we have alignment and agreement
Heilmeier’s catechism
A set of questions that anyone proposing a research project or product development effort should be able to answer.
Bottom-up approach
Method for developing a business problem statement that starts with stakeholder interviews, develops decision hierarchy and problem statement, then presents these to client and sponsor for approval of contract
Decision hierarchy
Method to depict done deals, strategic decisions, and subsequent decisions
Client
The person or organization who engages an analyst to conduct an analytic project
iterative (agile) approach
A model development cycle where a team incrementally develops a solution in response to incrementally identified requirements
Subsequent decision
A decision to be made separately or at a later date
Parallel approach
A model development cycle where separate components of the model are developed at the same time by separate team members
Stakeholder analysis
Way to compare the impact of a decision and influence on making the decision for stakeholders; depicted using Mendelow’s matrix: HH = Ownership, HL = Have a Say, LH = Get Buy-In, LL = Awareness
Stakeholder
People or organizations with an influence on or is impacted by the solution to an analytic problem
Done deal
A decision that is already made
Waterfall approach
A model development cycle where initial steps are reviewed and verified as complete before continuing to subsequent steps
Subject Matter Expert (SME)
An authority in a particular area or topic
Sponsor
The person or organization who funds the analytic project, provides clearance to access data, and/or owns the problem
