Analyze potential value and recommend solution

Purpose:

Estimate the potential value of each design option and to establish which one is most relevant to meet the client’s requirement.

Description:

Business analyst team estimates the potential value of each design. Later compare with each design in that the best design will be chosen based on the client’s requirement. Expected cost of each design will also be taken into consideration while comparing each design option.

Summary:

For each design option, the project team will want to estimate the potential value versus the costs related to the solution so as to determine which design option will best meet the requirements. The business team estimates and models the potential value of the options is done using various guidelines, tools, and techniques. Each possible design option have the advantages and disadvantages. This allows project owner or sponsor to select the best option among all the design options.

Analyze potential value includes that there could be uncertainty in the estimation. Value can be finance, reputation or the impact on the market place. Any change may lead to increase or decrease in the value.

Design options are estimated by comparing the potential value of each design with other. Depending on the reasons for the change, there may be no best option to recommend, or there could be a best choice.

 

Inputs:

  • Potential value.
  • Design options.

Techniques:

  • Backlog management.
  • Business cases.
  • Decision analysis.
  • Financial analysis.
  • Focus groups.
  • Risk analysis and management.
  • Survey or questionaries.
  • SWOT analysis.

 

Guidelines and tools:

  • Business objective.
  • Current state description.
  • Future state descriptions.
  • Risk analysis result.
  • Solution scope.

Stakeholders:

  • Domain SME.
  • End user.
  • Implementation SME.
  • Project manager.

Elements:

  • Expected benefits.
  • Expected costs.
  • Determine value.
  • Assess design options and recommend solution.

Output:

  • Solution recommendation.

 

Expected Benefits:

Solution is intended to deliver to stake holders value can include benefits, reduced risk, compliance with business policies or regulations, improved user experience, or any other positive outcome.

Expected Costs:

Include any potential negative value associated with a solution, cost to acquire and maintain. Expected costs can include timeline, effort, maintenance/operational costs, human resources, etc.

Determine Value:

The potential value of a solution to a stakeholder is based on the benefits delivered by that solution and the associated costs. BAs consider potential value from the point of view of the stakeholders.

 

Here are the some question and answers:

1.How many times does potential value analyzed?

A: Potential value is analyzed many times over the course of change.

2.In which for analyze potential value and recommend solution can happen?

A: This analysis may be a planned event, or it may be triggered by a modification to the

context or scope of the change.

3.How does design options are evaluated?

A: Design options are evaluated by comparing the potential value of each option to

the other options.

4.What determine the benefit?

A: Benefits are determined based on the analysis of the benefit

that stakeholders desire and the benefit that is possible to attain.

5.What can expected cost include?

A: Include any potential negative value associated with a solution,

including the cost to acquire the solution, any negative effects it may have on

stakeholders, and the cost to maintain it over time.

6.How does estimation process happen?

A:

  • First business team choose on which the design options to be estimated.
  • Business team will make multiple design options.
  • Discuss about the design option among team multiple times to finalize which one is the best.
  • Later finalize the best design option which can be cost beneficial and can also reach client’s

Expectation.

 

Conclusion:

Analyze potential value of each design option and recommend best solution.

About Aerpula Raghavendra

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