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Business Life Cycle

1274 Words6 Pages

Introduction
Business analysis is a set of tasks and methods used as a link among stakeholders in order to understand the structure, policies, processes of an organization, and to recommend solutions that enable the firm to achieve its goals. The analysis involves understanding how organizations function to accomplish their purposes. It includes the explanation of organizational goals, how those goals connect to specific objectives, determining the courses of action that an organization has to assume to achieve those goals and objectives (Eva &Rollason, 2014). In a nutshell, business analysisidentifies business needs and finds solutions to enterprise problems. The basis of business analysis has been traced back from the ancient merchandisers …show more content…

The most important factor to consider is to effect the communication among the stake holders. It is important that the stakeholder requirements are clearly identified and defined in order to find it easy to solve any problem. In a business, customers want their work done at the earliest time possible and that the order they make to be available as promised in the agreement made. The owner of the business on the other hand prefers to keep the customers happy and so ensures the inventory records are up to date easy follow up(Archer, …show more content…

For decades, the life cycle of a business has always consisted of seven areas that including; Enterprise analysis (EA) this has been termed as the core of business analysis since it deals with the current state of the firm and the existing (limited) capabilities. It is closely relates to Requirements Elicitation (RE), Requirement Analysis, Solution assessment and Validation (SA&V). The goal of these is to identify the business need, define the gaps and determine the ecological components of the existing environment. All these are supported by Planning and Monitoring (P&M), Requirement Management and Communication (RM&C). As the business executes tasks within the identified points, learning lessons and application of obtained knowledge to improve the tasks now take its course and this is where Interactive improvement (II) comes in to complete the cycle(Jones, 2011).

Are there some benefits of business analysis life cycle?
According to (Franc, 2007) the concept of improvement of business analysis life cycle results to the following positive impacts: (a) The planning of business analysis activities becomes more effective (b) Proven procedures (c) Standard report and replicas are realized (d) Proven and effective approaches are used from the first project day (e) Communication with stakeholders becomes effective and surprises are minimized (f) Requirement are not missed and lastly (g) Business

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