chap 3

Business Analysis Planning and Monitoring

It's main task is to organize and coordinate the efforts of business analysts and stakeholders. It helps references and guidelines for future decisions or planning of other tasks.

Plan Business Analysis Approach

Main purpose to define an appropriate method to conduct business analysis activities

Align goals: Decide and achieve the goals on the basis of long term  thinking and its effect or the 

                     impact on the company.

Example:  RBC mainly follows a process of identifying the activities and complete each activities                       according to order and priorities.

`Manage risk: Managing risk is one the most important things to do in this competitive world as of                              serving the best of  the best products, quality and services with perfection and                                      precision.

Example: For such a big company like RBC risk are of various types among which few are like                          quality products, other competitors, customer satisfaction and many more.

Plan Stakeholder Management 

Main purpose to establish and maintain effective working relationships with the stakeholders.

Establishing and maintaining 

relationships with stakeholders: It includes a proper and precise analysis of all the stake holders 

                                                      involved and analyze their characteristics and plan the thing taking                                                        consideration of all the factors and define the best way to get done

                                                      with everyones collaboration.

Example: For RBC, planning and organizing becomes very difficult as the proportionate risk increase

                highly as the number of stakeholders involved in the plan will also be high

         

Plan Business Analysis Governance

To make valid decisions based on the requirements designs, reviews, and change, approvals and prioritize it,

Determine Responsibilities: For change and education business analysts mostly identify the changes                                                needed what can be approved and analyze the change requests.

Examples: RBC business analysts for of governance related changes need to be very sure about the                     government rules and changes as it is financial organization serving financial services to                     many organizations.

Business Analysis Information Management

Main purpose to develop and approach how business information will be stored and accessed.

Business analysts need to ensure information entered is organized, useful and accessible so that everyone plans and works on the information that is correct.

Example: Business Analysts at RBC need to make sure about the information as a lot of people are                    going to work with it and extremely huge amount of people are going to rely and use that                    information.

Performance Improvements

To business analysis work and make and execute the highly exceptional plan.

Performance improvements  is one the most important things to include in achieving the goal because it is necessary for improving things through which goals and targets can be achieved.

Example: RBC's business analysts mainly focus on improving customer satisfaction information technology and making technical and transparency in banking.