Chapter 3 - TD Bank - Blog 3

On Chapter 3 we discover that the Business Analysis Planning and Monitoring helps the business analyst to organize and coordinate the efforts with stakeholders. Follow below some task that could be used:

   1. Plan Business Analysis Approach: Define the planning of business analysis work. This action will show the big picture of the techniques that will be used on the project how an when the duties will be executed and the products that should be produced.

Business Analyst will be defined by the organizational standard. If the company has no organizational standard. Business Analyst and stakeholders will work together to delivery one.

The business Analysis approach must:

·        Coordinate the goals of change.

·        Adjust the business analysis’ procedures with activities and deliverables.

·        Get advantages from previous successful project using the same techniques.

   2. Plan Stakeholder Engagement: Describe what stakeholder is important for the success od the project and who they can collaborate with business analyst. Also maintaining good relation for the both side: Business Analyst and Stakeholders.

This technique helps the Business Analysis to define what is the paper for each involved stakeholder on the project. More stakeholder on the project, more complex the project can be. Keep that in mind.

   3. Plan Business Analysis Governance: Describe what components are important to support the governance area of the company, how the decision could be made regarding the requirements approvals, feedbacks and level of importance.

Governance is important to solve any uncertainty that is rounding the project.

Business Analyst can identify some action and when they use the governance approach. Follows some example below:

·        Who is responsible to approve changes,

·        How change should be registered,

·        Who has the authority to analyze the request to change the project?

   4.Plan Business Analysis Information Management: Describe how work developed by business analyst is storage and connected with another projects’ information. This plan is responsible for all the projects’ information that are created, compile, elicit and disseminate.

It’s extremally important to have on the information organized in a functional and useful manner to be easy to access.

This part of the plan is responsible to discovering:

·        How the information should be access and stored,

·        how the information should be organized,

·        details about the information that should be maintained, and

·        the level of the detail of the information that should be salved.

After these 4 steps, you need to identify how to improve the Business Analysis Performance Improvement. You will need to monitor and establish way to measure, handle the performance, communicate the results and identify potentially corrective action.

UNDERLYING COMPETENCIES - GROUP 1 - TD BANK

HOW UNDERLYING COMPETENCIES SUPPORT BUSINESS ANALYSIS

The underlying competencies help the business analysts to explore the fundamental skills required for them to be skilled and versatile. These are divided into six sub-groups as following:

• Analytical Thinking and Problem Solving
• Behavioural Characteristics
• Business Knowledge
• Communication Skills
• Interaction Skills
• Tools and Technology

Analytical Thinking and Problem Solving: 

The business analyst requires analytical thinking skills as they need to examine the problems efficiently whereas their problem-solving skills help them to identify the solutions for those problems as well as they can make the required changes for the better productivity. If the business analysts have a good understanding of this core competency, they can find better ways to deal with the stakeholders and present the information to them. It actually entitles them to communicate well in front of the clients or stakeholders in such a suitable and productive manner. This skill includes some crucial points in it further which are as follows:

• Creative Thinking
• Decision Making
• Learning
• Problem Solving
• Systems Thinking
• Conceptual Thinking
• Visual Thinking

Behavioural Characteristics:

These characteristics are common for the business analysts but these are the must. These actually enable them to build up their image in front of the stakeholders, gaining their trust and respect by working morally, meeting deadlines as well the expectations, depicting their adjustability towards thew changing needs. Further, these include:

• Ethics
• Personal Accountability
• Trustworthiness
• Organization and Time Management
• Adaptability

Business Knowledge:

The business analysts should have knowledge of the extensive concepts which conducts the situation's structure, benefits and value which is related to change or need. Business knowledge is must for the efficient and effective running of the organization, industry or the business. It includes several factors like:

• Business Acumen
• Industry Knowledge
• Organization Knowledge
• Solution Knowledge
• Methodology Knowledge

Communication Skills:

It is defined as an act of sending information from one person to another which delivers the meaning whatever the sender wants. Stakeholders get benefits from fruitful communications. It uses different methods to deliver information like verbal, non-verbal, written and physical. Mostly, communication methods use words to deliver information, however, there are few which use movements and expressions. If the person who is sending the information has the same understanding of the conveying information as the person who is receiving that, then it results in effective and productive communication. Sometimes, the sender has to set the level of understanding and the style which would be able to understand easily by the recipient to make communication productive. Communications core competencies include:

• Verbal Communication
• Non-Verbal Communication
• Written Communication
• Listening

Interaction Skills:

How well business analysts relate, communicate and work with sponsors, colleagues, customers, stakeholders, team members and development professionals is defined as the interaction skills. They are solely responsible to provide leadership, facilitate stakeholders and promote the support of changes. These core competencies include the key factors as follows:

• Facilitation
• Leadership and Influencing
• Teamwork
• Negotiation and Conflict Resolution
• Teaching

Tools and Technology:

Different types of software applications are used by business analysts so that they can check the problems, support communication and collaboration of teams, create concepts and hence yields better output. Word processing tools are used to develop requirements documentation, however, the process of developing business requirements uses simulation and prototyping tools. When it comes to stakeholders, business analysts may have to use communication and collaboration tools with the presentation software so that they can define their ideas and participate in discussions with stakeholders and team members. It includes:

• Office Productivity Tools and Technology
• Business Analysis Tools and Technology
• Communication Tools and Technology
  
  
  
  
  
  
  
  
  
  

GROUP 1 TD BANK Chapter 1 and 2

What is Business Analysis?
Business analysis is the practice of enabling change in an enterprise by defining
needs and recommending solutions that deliver value to stakeholders. Business
analysis enables an enterprise to articulate needs and the rationale for change,
and to design and describe solutions that can deliver value.
What is the Business Analysis Core Concept Model?
They basically have three concepts need change and solution.
CHANGE
The act of transformation in response to a need.
Change works to improve the performance of an enterprise.
These improvements are deliberate and controlled through
business analysis activities.
NEED
A problem or opportunity to be addressed.
Needs can cause changes by motivating stakeholders to act.
Changes can also cause needs by eroding or enhancing the
value delivered by existing solutions.
SOLUTION
A specific way of satisfying one or more needs in a context.
A solution satisfies a need by resolving a problem faced by
stakeholders or enabling stakeholders to take advantage of
an opportunity.
Another important term for the chapter is STAKEHOLDERS
A stakeholder is an individual
or group that a business analyst is likely to interact with directly or indirectly.
as per TD bank they require Business analysis to figure out their problems profits as well as well being of the company. he is the key person in the company to perform all the tasks.


Starting from the beginning, business analysis defines needs and propose solutions to increase the company’s value to stakeholders. There is uncountable action to improve solutions using the business analysis to different companies.
The Business Analyst is the agent for discovering, synthesizing and analyzing the required information to perform his/her job. With the steps, will be able to delivery the best appropriated solution to the customer.
On this first chapter we can take a little look what are the Key Concepts, Knowledge Areas, Principal Tasks, Underline Competences that all business analyst needs to achieve, Techniques and different Perspectives as to give focus to the analyst, for example Agile.

On the second chapter, we start digging the Key concept for Business Analysis.
1 The Business Analysis Core Concept Model (BACCM) is a visionary framework for BA and it is composted of six parts:
• Change – change the way of work to improve the efficiency inside the company.
• Need – Needs cause change to attract the stakeholder’s attention to act.
• Solution – Can solve an issue faced by the stakeholders.
• Stakeholder – A group of individuals with interest in something in common.
• Value – Can bring more investments to a reliable company.
• Context – The changes can only happen because of one need to change.

2 Key Terms
• Business Analysis Information – It is any kind, at any level of info that is used as an input or output in a solution.
• Design – Is used to shape the solution.
• Enterprise – Is a system of one or more organization that share a common goal.
• Organization – A group of people with the same goal.
• Plan – Something to achieve following what was propose on the beginning of the project.
• Requirement – Something needed to achieve a goal.

3 Stakeholders are the interested part on the company. Follows some examples: customer, supplier, business analyst, project manager, sponsor and etc..

4 Requirements are focus in what the company needs, and Designs are focus on the solution. One example is the requirement is to provide the information in English and French and for Design is prototype the text display in English and French.

Follow the concept on these Chapters, we choose the TD bank to start talk about the Business Analysis.
TD is one of the companies that offer the Co-op position for BTM student every term. Besides that, the company doesn’t require previous experience for student.
With a structure plan to receive the student on this amazing company, this option could be the first step for a promising future