Introduction
Business leaders and managers who evaluate proposals are faced with the challenge of selecting the most valuable investments for their organizations. They must select problems that are important to solve and that will provide compelling benefits. However, it’s not enough to simply state those two components when pitching a proposal or creating a business case – they must be substantiated through effective business analysis.
Critical thinking must be applied to determine whether the stated problem is a problem and whether the benefits of that solution are sufficient given the investment that is required. Thorough analysis is then required to create the “right” solution – a solution uniquely designed to solve the problem and capture the expected business value.
This course provides frameworks and techniques to help students analyze the business situation and select the best solution. It includes lessons on developing the right KPIs so students can architect and measure success for any solution they propose.
Interactive workshops allow students to practice the techniques as they learn using case studies as well as their own projects.
Objectives
- Analyze, define, and size a particular problem or opportunity
- Identify the importance and value of solving (or ignoring) the problem or opportunity
- Develop a sound solution position statement that clearly describes intended business value and outcomes needed for success
- Recommend a solution option that delivers the desired outcome and value
- Establish measures for solution success and benefit delivery
- Choose “key” measures (KPIs) and describe how this information supports effective program design, project scoping and planning to maximize benefits delivery
- Identify potential risks to achieving critical solution results and describe the different risk responses and planning strategies, such as mitigation and contingency plans
- Perform cost benefit analysis and develop a business case to support solution recommendations
Student Profile
This course is designed for Business Analysts, Product Managers, Product Owners, Project, Program or Portfolio Managers, or any other business partner or member of the project team involved in problem solving, impact analysis, proposal, business case or development of value proposals as well as the scope of the program or project. This course may also be appropriate for people who handle people in those roles; It will provide a deeper understanding of the process and skill set that allows for effective business analysis and value-based delivery of solutions.
Prerequisites
There is no prerequisite for this course, but we recommend that students first attend our Essential Skills for Business Analysis (or our Requirements Analysis Techniques and Scope Your Area of Analysis sub-sets) course, as well as our Business Process Analysis course; or have equivalent experience.
Course Materials
Each student will receive a copy of the course documentation prepared by Netmind.
Methodology
Engaging and interactive course. Our instructors teach all course materials using the demonstrative method; the participants learn new concepts through exercises and real application practices.
Certification
This course is included in our Business Analysis Certification Program. By attending this course, students earn credit towards the BA Associate and BA Certified certifications, as well as credit towards the Strategy and Solution Evaluation Badge.
Additionally, students will earn 14 credit hours for their attendance.
Accreditation
A certificate of attendance will be issued to students who attend the course for at least 75% of the duration.
Course Outline
- Introduction
- Understand the importance of measuring the success of your business.
- Consider “is it important?” by assessing the situation and defining success.
- Decide “is it valuable?” by analyzing impacts and assessing options.
- Determine “is it worth it?” by evaluating benefits and planning strategic value delivery.
- Measure “Is it successful?” using key measures (KPIs).
- Envision Business Success
- Determine Business Need
- Distinguish between problems, issues, and needs
- Define desired outcome and associated business value
- Examine the business area. Apply critical thinking to extrapolate business problem(s) from tactical issues and identify organizational impacts
- Characterize the situation using a problem statement
- Identify Results for Business Success
- Contrast success with an acceptable outcome.
- Identify critical business results. Describe and practice an approach to identifying results required for desired business outcome and value
- Clearly articulate the problem(s) using the Value Validation Cycle
- Depict the path to success using a Business Success Ladder
- Describe Solution Option Success
- Identify Barriers to Business Success
- Describe the difference between Business Success and Solution Success
- Identify barriers the business must overcome to succeed
- Examine why the business cannot overcome these barriers; why do they need you?
- Define Solution Capabilities
- Derive solution capabilities needed to ensure business and solution success
- Create a strong value proposition for the solution using the Solution Success Statement
- Generate and Describe Solution Options
- Identify potential solution options
- Understand the decision-making process and how to support it when selecting the “best” solution option
- Articulate and position the “best” option with a Solution Position Statement
- Determine Solution Option Results
- Learn the pattern of results that drive a solution to success
- Identify the results needed for solution success
- Validate that the selection option will deliver the desired success and enable achievement of business value
- Apply key questions and critical thinking to determine if a solution should be pursued
- Plan for Performance Success
- Identify Critical Needs and Performance Conditions
- Establish critical needs that the solution must address
- Determine solution performance conditions
- Depict using a Solution Option Success Ladder
- Assess solution risk, using context to help strategize responses
- Establish Measures and Select KPIs
- Identify measures of performance success
- Select and quantify KPIs
- Consider how and where to apply KPI measures across lifecycle
- Communicate Business Value
- Quantify Solution Option Benefits
- Identify potential for incremental delivery
- Clarify solution and objectives
- Identify and prioritize alternative solutions
- Perform cost-benefit analysis by identifying impacts, quantifying costs, and calculating both tangible and intangible benefits
- Document the Business Case
- Learn a framework for writing an effective business case
- Use decision criteria to ensure the solution is a sound investment
- Clarify and communicate scope
- Consider the affect of risks, assumptions, constraints and dependencies on your recommendation
- Course Summary
- Key takeaway review
- Develop an Action Plan with next steps, based on the student’s current project
- Appendix – Job Aids
- Risk analysis and planning
- Leveraging KPIs across the lifecycle
- Considerations for problem and opportunity sizing and evaluation
- KPI Workshop (Onsite Option)
- Half day workshop to apply KPIs learning to your project
