Some key concepts in business analysis

In a previous post, I mentioned business analysis key concepts.

I want to talk a little more about that topic in this post.

Every professional needs a good foundation in their field in order to reach their true potential. In the world of business analysis, business analysis key concepts is that foundation.

Business Analysis Key Concepts has information that helps the business analyst in the understanding and application of business analysis.

The Business Analysis Key Concepts are:

1. What is Business Analysis: As written in an earlier post, business analysis is the practice of enabling change by defining needs and recommending solutions that deliver value to stakeholders.

2. Who is a Business Analyst: A business analyst is responsible for enabling change in an enterprise.

3. The Business Analysis Core Concept Model™ (BACCM): The Business Analysis Core Concept Model™ is a conceptual framework comprised of six core concepts critical to the profession of business analysis.

The six core concepts are:

a. Change: This is the act of making something different. A business analyst’s job is to make beneficial change in an organization.

b. Need: This is something of value which is required by an organization.

c. Solution: A solution is a means of solving an organizational problem.

d. Stakeholders: This is someone who has an interest in the organizational problem and its potential solution.

e. Value: Value is the importance, worth, or usefulness of something. In the context of business analysis, it is the value in the potential solutions.

f. Context: Context is the circumstance that forms the setting for an event, statement, or idea, and in terms of which it can be fully understood and assessed.

In the business analysis world this is in the context of the organizational change.

4. Key Terms: There are numerous terms in business analysis and examples include design, enterprise, organization, plan, requirement and risk.

5. Requirements Classification Schema: This is the classification of the requirements we need to fulfill to ensure that the solution meets the needs of the stakeholders.

The components of the requirements schema are business requirements, stakeholder requirements, solution requirements and transition requirements.

6. Stakeholders: As written earlier, a stakeholder is someone who has an interest in the problem and its potential solution. These include the business analyst, customer, end user and project manager.

7. Requirements and Designs: Requirements are used to clarify what the need is while the design would be used to create a solution which would fulfill that need.

This is a brief introduction to business analysis key concept but to understand it fully I need to discuss each key concept in detail.

I would write about each concept in future posts, so stay tuned!