CAPM MOD 5 Flashcards
identifies the best approach to organize tasks, elicit requirements, analysis and solution eval, must determine rigor and detail needs to roll out project (size, criticality, complexity) what tools? How to get project requirements? How to find stakeholders?
Business analysis planning
comparing your org against established industry standards. This helps provide info when data can’t be collected or isn’t enough
Benchmarking
- Determining and analyzing project requirements
- Tailoring and evaluating activities required to deliver proposed solution
o Catalog everything that needs to get done
o Identify who is involved and how to best work with them
o How to track progress - Identify stakeholders – who impacts success?
- Understand and engage stakeholders – group them by their needs and determine best way to get info from them and their engagement level
- Requirement management – identify requirements and process for validating, verifying, and approving requirements. Define procedure for changing requirement. Want to have requirements and tasks for achieving them in proposal
- Evaluation = define plan to evaluate success
- Project approach – choose predictive, adaptive, or hybrid
o Adaptive won’t need extensive business analysis plan upfront since there is an opportunity to do this throughout the project since things are expected to change and won’t know all the info up front
Business anlysis planning steps
covers planning decisions for both product and project requirements. Details how change of requirements is dealt with in a project
Requirements management plan
describes how requirements will be elicited, analyzed, and documented throughout project. provides “how to details” like tools to model requirements.
business analysis plan
analyze current business problem or opportunity. Talk to sponsor, read business charter to learn more. Asks what a business needs to do to get from A to B
* What project solution addresses problem or opportunity?
* Is the proposed solution a good use of organized resources?
* What value will be realized? May be monetary, environmental, or social
Needs Analysis
Aspire, Business case, create charter, develop plan, execute plan, finish plan (ABCDEF)
phases of business needs analysis
people consulted during __ are sponsor, product owner, SMEs, end users, solution team
is an iterative process to revisit frequently
Needs analysis
review existing documentation
assess org goals and objectives
clarify needs, problems, objectives
evaluate various options
create solution scope
draft situation statement
conduct solution cost-benefit analysis
Tasks performed during needs analysis
identify problem or opportunity
assess current state
determine future state
determine viable options and recommend solution
facilitate product roadmap development
support charter development
assemble business case
Processes of needs analysis
Business analysis planning
needs analysis
requirements elicitation and analysis
traceability and monitoring
solutions evaluation
The 5 business analysis areas
output of identifying problem or opportunity. Problem/opportunity A has the effect of B with the Impact of C.
o Must have three parts – description of problem or opportunity, effect of problem or opportunity, and the potential impact of solving problem or seizing opportunity. Even if not proved out yet, still must have the impact of solving problem or seizing opp.
situation statement
- Document analysis: analyze existing documentation and identify relevant product info
- Interviews: formal or informal directly from stakeholders
- Observation: see how process is performed or product is used in the environment
- Questionnaire: designed to accumulate info from many respondents quickly
Data collection techniques
- Pareto diagram: 80/20 rule; communicates results of root cause analysis
- Process flow: describe business processes and ways stakeholders interact with those processes
- Value stream map: identify process steps that add value (value stream) and those that don’t (waste)
- Root cause analysis: various techniques that determine underlying reason for variance, defect, or risk
- Ishikawa diagram: cause and effect/fishbone diagram – depict problem and it’s root causes since most problems have many contributing factors
- Five whys: someone seeking to understand problem asks “why” as many as 5 times
- SWOT analysis: strategic conversation in reaction to changes in the marketplace or organization (strengths, weaknesses, opportunities, threats)
tools to access current states and find root cause to problems and factors leading to opportunity
80/20 rule; communicates results of root cause analysis
Pareto diagram
describe business processes and ways stakeholders interact with those processes
process flow
identify process steps that add value (value stream) and those that don’t (waste)
Value stream map
various techniques that determine underlying reason for variance, defect, or risk
root cause analysis
cause and effect/fishbone diagram – depict problem and it’s root causes since most problems have many contributing factors
Ishikawa diagram
someone seeking to understand problem asks “why” as many as 5 times
5 whys
strategic conversation in reaction to changes in the marketplace or organization (strengths, weaknesses, opportunities, threats)
SWOT Analysis
Affinity diagram: shows categories and subcategories of ideas that cluster or have an affinity with one another
Feature model: visual representation of all features of a solution arranged in tree or hierarchy structure
Gap analysis: technique to compare as-us and to-be states of a business
Kano analysis: model and analyze product features from the viewpoint of the customer
Process flow: depict current state and model changes in the process that would be seen in potential future options
Alignment model: helps team link business strategy to product strategy
Solution capability matrix: examine capabilities and solution components in one view and identifies capabilities to address in the new solution
Gap analysis: Once current “as is” situation’s capabilities, identify gaps or missing capabilities that exist between current and needed states. Those will be added as “to be” futures.
Outcome of accessing the current and future states should be SMART (specific, measurable, attainable, relevant, time-based) business goals and objectives and description of required capabilities and features.
Tools for defining future states
visual representation of all features of a solution arranged in tree or hierarchy structure
feature model
technique to compare as-us and to-be states of a business
Once current “as is” situation’s capabilities, identify gaps or missing capabilities that exist between current and needed states. Those will be added as “to be” futures.
gap analysis
model and analyze product features from the viewpoint of the customer
Kano analysis
depict current state and model changes in the process that would be seen in potential future options
process flow
helps team link business strategy to product strategy
alignment model
examine capabilities and solution components in one view and identifies capabilities to address in the new solution
Solution capability matrix
Outcome of accessing the current and future states should be ______ business goals and objectives and description of required capabilities and features.
SMART (specific, measurable, attainable, relevant, time-based)
tool that compares portfolio components, programs, or project benefits to costs.
- Used to find most viable option
- Part of portfolio or program management activities – must understand Financial analysis and use at least one of those techniques to make the assessment
o Valuation techniques estimate option returns
Internal rate of return – estimation of investments’ projected annual yield including initial and ongoing costs – want it to be high. Signifies IR where NPV of all cash flow equal zero
Net present value = higher the better. Insight into whether investment will provide value
Payback period = time needed to recover an investment. Want to be low
Return on investment = % return on initial investment. - Total projected benefits/cost of investment
Cost benefit analysis
estimation of investments’ projected annual yield including initial and ongoing costs – want it to be high. Signifies IR where NPV of all cash flow equal zero
Internal rate of return
higher the better. Insight into whether investment will provide value
NPV
time needed to recover an investment. Want to be low
Payback period
% return on initial investment.
ROI
pulling info from sources
Techniques include:
* Brainstorming – generate ideas in short time
* Facilitated workshop – structured meeting led by facilitator working towards stated objective
* Interviews – info from team members
* Personas modeling – descriptions of customers goals, requirements, concerns, and frustrations to help guide development team
Ellicitation
generate ideas in short time
brainstorm
structured meeting led by facilitator working towards stated objective
facilitated workshop
getting info from team members
interview
descriptions of customers goals, requirements, concerns, and frustrations to help guide development team
persona modeling
coming up with features that provide immediate value. Only focus on features deemed to be highest value.
Feature injection discussion/analysis
- determine business value
- determine features that help create that business value
- Spot examples – talk through examples to see variations and help broaden product scope
Three steps of ellicitation
summarized output of feasibility analysis for review
Feasibility study results
provide one solution that best addresses business need
Recommended solution option
high-level view of product features and their build and delivery order. Communication product vision and its lifecycle highlighting how it evolves. And tells how product supports organizational strategy
Characteristics of roadmap: easy to understand, milestones are assigned approximately rather than specific dates, the entire period of the project is visible
Product roadmap
Feature model – all features of solution in a tree of hierarchical structure. Workshop to turn into product roadmap
Product visioning – high-level direction for product release. Team agrees on vision for product
Story mapping – orders user stories by business value and user action
roadmap development models
all features of solution in a tree of hierarchical structure. Workshop to turn into product roadmap
feature model
high-level direction for product release. Team agrees on vision for product
product visioning
orders user stories by business value and user action
Story mapping