Business Requirements Analysis
Business Requirements Analysis
The benefits of business requirements analysis
Find the optimal IT solution
Expert analytics helps to determine the optimal technical implementation of the planned IT system and to consider possible solution options that would meet business needs.
REDUCE TOTAL PROJECT COST
In a situation of great uncertainty, the contractor typically includes all possible risks and unfavorable scenarios in the cost estimation of the project.
With the help of detailed project analytics, the questionable elements can be worked out at an early stage, thus reducing both the risks and the overall cost estimation. The cost of the risks is usually significantly higher than the additional costs for analytics at the initial stage.
For example, in a project consisting of 10 modules, a certain percentage of risk is included for every module, which summarily significantly increases the total cost.
Correctly define the project boundaries and scope of work
By neglecting to carry out a thorough requirements analysis, both you and the contractor can be mistaken in the project cost by an order of magnitude, the initial drafts of terms of reference often conceal the underwater part of the iceberg.
At first blush, the project may appear to be relatively straight forward, however further down the line it turns out that in order for the software to really solve the problem for which it was intended, you will have to do much more than planned.
There is also an inverse risk, overestimating the project, putting in unnecessary requirements that will be scrapped after priority analysis. Elaboration of requirements can significantly improve the overall accuracy of the estimation.
The benefits of business requirements analysis
Find the optimal IT solution
Expert analytics helps to determine the optimal technical implementation of the planned IT system and to consider possible solution options that would meet business needs.
Reduce total project cost
In a situation of great uncertainty, the contractor typically includes all possible risks and unfavorable scenarios in the cost estimation of the project.
With the help of detailed project analytics, the questionable elements can be worked out at an early stage, thus reducing both the risks and the overall cost estimation.
The cost of the risks is usually significantly higher than the additional costs for analytics at the initial stage. For example, in a project consisting of 10 modules, a certain percentage of risk is included for every module, which summarily significantly increases the total cost.
Correctly define the project boundaries and scope of work
By neglecting to carry out a thorough requirements analysis, both you and the contractor can be mistaken in the project cost by an order of magnitude: the initial drafts of terms of reference often conceal the underwater part of the iceberg.
At first blush, the project may appear to be relatively straightforward; however further down the line it turns out that in order for the software to really solve the problem for which it was intended, you will have to do much more than planned.
There is also an inverse risk: overestimating the project, putting in unnecessary requirements that will be scrapped after priority analysis. Elaboration of requirements can significantly improve the overall accuracy of the estimation.
Retain accumulated knowledge
The product requirements are captured according to a fixed methodology throughout a project which allows you to preserve knowledge in the most complete and structured form. All evolutions will be available for subsequent use by new participants in any time span.
This task is especially important for corporate systems in which further development and transition to internal support are planned.
Provide for future product development
The product requirements are captured according to a fixed methodology throughout a project which allows you to preserve knowledge in the most complete and structured form. All evolutions will be available for subsequent use by new participants in any time span.
This task is especially important for corporate systems in which further development and transition to internal support are planned.
