This concise 3-hour course will examine the pre-project work to identify a business need, develop potential alternative solutions, and the business case analysis to justify the investment to deliver the solution. This work done to define new projects is called strategic analysis. The importance of the organization having a strategy tied to a mission and vision will be explained, along with how development of the strategic plan leads to business needs. Tools to help identify business needs will be reviewed, including root cause analysis, process modeling and benchmarking. The use of decision analysis and feasibility studies for determining the solution approach will be discussed. The importance of the business case to justify the project investment will be reviewed, including the financial analysis techniques used to evaluate and justify the project.
This course will benefit business analysts, executives, project managers and other project personnel involved with the activities to define new projects to meet business needs.
Upon completion of the course, attendees will be able to:
- Explain how the mission, vision and strategy for an organization leads to business needs
- Prepare a process model
- Use the root cause analysis technique
- Understand the components of a feasibility study
- Assist in the preparation of the business case for a project
Defining Business Needs
- Strategic Analysis Overview
- Importance of Organization Mission, Vision and Strategy
- Strategic Planning, Business Goals and Objectives
- The Road to Projects
- Use of Benchmarking, Root Cause Analysis and Process Modeling to Define Business Needs
Assess Gaps & Determine Solution Approach
- Assessing Strategic Architecture Gaps
- Use of SWOT Analysis
- Solution Approach Process
- Use of Decision Analysis and Feasibility Studies
Define Solution Scope & Business Case
- Solution Scope Definition using Functional Decomposition, Scope Modeling and Vision Statements
- Business Case Components
- Benefit and Cost Assessment
- Financial Analysis Methods using Time Value of Money
- Metrics & Key Performance Indicators
This course is included in the following tracks at a discounted rate if purchased as a part of a track:
