Evaluate Options / Comparison Analysis Templates

Template Contents

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If you want to succeed as a Business Analyst...

Then fully understanding and evaluating different solutions options is key.

That's why I'm providing you with these analysis templates.

To help lead you on the way to using the right tools for making the RIGHT decisions.

41. Options Identification

For starters…

The available options for addressing a problem need to be explored

The solution could be

1. Business solution

2. Technical solution

It’s often said that business needs should be considered first and then IT possibilities

However this is changing.

Due to the increasingly intimate involvement IT has on operations

Important: DO NOT reject any options prematurely

Usually a brainstorming workshop is good for identifying the options

BUT once you have them there needs to be a shortlisting exercise

The idea is to end up with 2 or three distinct options to present to decision makers.

42. Force Field Analysis Template

Break down the long list options into 3 categories

1. Business

2. Technical

3. Financial

Note: the feasibility study will identify issues when solution options are compared.

BUT that does not meant they need to be discarded immediately

Simply take these issues into account

Download the template to see what issues might arise in each category.

43. Force Field Analysis Template

What’s the idea here?

To examine the forces that will tend a solution option towards acceptance

But also what forces will tend a solution towards rejection.

If negative forces are more powerful.

The BA must weaken the negative forces

Done by finding more powerful positive forces for the argument.

Download the template so you can document the forces in a simplified manner.

PREPARING THE BUSINESS CASE

44. Cost Benefit Analysis Template

Also known as CBA

Used to investigate the costs of taking a particular course of action

AND identify the quantitative benefits

Various people should be involved:

· The project Sponsor should be involved

· Users and actors should have a say

  • BA should co-ordinate and facilitate
  • Developers may also be involved

Download the template to help document costs and benefits in their specific categories

Remember to use the book for all the different costs and benefits that might be identified or calculated

45. Impact Analysis Template

The identification and presentation of effects on a potential project so that managers assessing proposals have complete information to make their decision

Some impacts have associated costs

Others may create risks

The downloadable template indicates some of the things that might be included in an Impact Analysis.

46. Risk Analysis Template

3 stages to Risk Analysis

1. Risk Identification

2. Risk Assesment - Impact vs Probability

3. Actions and Owners

Identifying risks is useless…

Unless there are specific people allocated to deal with the risks.

There are 4 posibilities in dealing with risk

1. Avoidance

2. Mitigation

3. Transference

4. Acceptance

47. Investment Appraisal Template

The process of comparing financial benefits forecast from a proposal or project, with the predicted costs.

Helps determine if it’s worth undertaking

There a 3 common methods of presentation:

- Payback or breakeven analysis

- Discounted cash flow

- Internal rate of return

Each of these are explained in detail in the book

So download the template to complete yout investment appraisal analysis

PRESENT BUSINESS CASE

48. Business Case Report Creation Template

Keep it short.

Make it succinct

AND lead clearly to the conclusion

Why?

Because this will be the core of what allows senior management make the decision as to whether to implement your solution.

A typical structure might include:

  • Introduction
  • Management Summary
  • Background
  • Options Considered
  • Benfits / Costs
  • Investment Appraisal
  • Impact Analysis
  • Risk Analysis
  • Conclusions & Recommendations
  • Supporting Appendices

49. Business Case Presentation Template

This is a Business Analysts opportunity to SELL their ideas

The presentation MUST add value

Use this structure:

- Say what you’re going to say (start with a bang)

- Say it (present issues and solutions)

- Say what you said (End on a high)

Tip: Avoid the ‘death by Powerpoint’ complaint by not using too many slides.

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