I am a IT graduate (B.E.)and currently pursuing MBA with Business Analysis and Project Management as my final semester electives.
Could you suggest some topics that I could research for my dissertation ?
Regards,
Abhishek
ANSWER: ABHISHEK,
HERE IS SOME USEFUL MATERIAL.
THE TOPIC
-you can conduct one on ''BUSINESS ANALYSIS'' independently
or link it with PROJECT MANAGEMENT.
GOOD LUCK
REGARDS
LEO LINGHAM
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HOW BUSINESS ANALYSIS HELPS
Enterprise analysis or company analysis
focuses on understanding the needs of the business as a whole, its strategic direction, and identifying initiatives that will allow a business to meet those strategic goals.
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HOW BUSINESS ANALYSIS HELPS
Requirements planning and management
involves planning the requirements development process, determining which requirements are the highest priority for implementation, and managing change.
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HOW BUSINESS ANALYSIS HELPS
Requirements elicitation
describes techniques for collecting requirements from stakeholders in a PROJECT.
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HOW BUSINESS ANALYSIS HELPS
Requirements analysis
describes how to develop and specify requirements in enough detail to allow them to be successfully implemented by a PROJECT team.
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HOW BUSINESS ANALYSIS HELPS
Solution assessment and validation
describes how the business analyst can verify the correctness of a proposed solution, how to support the implementation of a solution, and how to assess possible shortcomings in the implementation.
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HOW BUSINESS ANALYSIS HELPS THE PROJECT MANAGEMENT
Capture the decision-making processes of the best performers, thus improving the overall quality and consistency of your decision-making process.
Provide support for collaboration, since decision-making is most often a collaborative process.
Provide forward-looking insights by integrating planned and forecasted information with actual historical facts and allowing changes to future plans and forecasts to facilitate what-if solutions for future events.
Provide rule management capabilities or integrate with a rules engine in order to make decisions actionable. Translate a policy or rule into the specific form required by each relevant operational system.
Are capable of capturing what decisions were made and why. The resulting repository of decisions (the decision base or knowledge base) anchors a learning environment and provides a persistent record to address compliance demands.
Business improvement architects
Business Strategist
Systems analyst
Business Improvement architects.
Business analyst should study properly about the objectives, processes and resources and shouldrecommend ways by which re-design or improvements can happen immediately. Business analyst must possess soft skills , knowledge of the business , should know stakeholder analysis and also should have hard skills namely business process modeling. This role of a business analyst is also called as Business Process improvement.
Business Strategist
It’s very important to organization to focus on their strategic policies on a frequent basis in this competitive world. Business analyst must be well versed in properly analyzing the strategic profile of the organization and also study about the business environment and should be able to advice senior management and make immediate change on policy decisions.
Systematic analysis
Here in this aspect there is a need to align IT development with the systems. Oldest problem of any organization is how to increase the profits and how to get the best return from IT investments. Business analyst role here is to understand and analyse the requirements for their IT systems. Sometimes there will be overlap happening between the developer and tester. Business analyst must always focus only on the IT part of the change process
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---------- FOLLOW-UP ----------
QUESTION: Hello ,
Thanks a lot for the answer earlier and it definitely gave me a direction to my thoughts.
If I pursue this topic :
"Solution assessment and validation
describes how the business analyst can verify the correctness of a proposed solution, how to support the implementation of a solution, and how to assess possible shortcomings in the implementation" ,
Can you help me out as to how to progress with this topic, in a bit of detail ??
Regards,
Abhishek
Answer ABHISHEK,
HERE IS SOME USEFUL MATERIAL.
REGARDS
LEO LINGHAM
======================================
Yes, you can do it, even though it may sound difficult
at the first sight.
I thought, it will be useful, if I show this with
a practical example.
SAY, A PROJECT ==LA.UNCH OF A NEW PRODUCT
STAGE 1----PROPOSED SOLUTION.
AS an analyst, you have to ask questions.
1.why do you need a new product
-is it Changes to Augmented Product
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-is it a Core product revision
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-is it Line extensions
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-is it New novel items by established company.
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-is it New product lines to the company.
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is it Repositionings
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-is it Completely New New to the market [ never before seen]
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-is it New to the world
-----------------------------------
-is it New to the local market
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WHAT IS the need for new products for an organization.
-to improve the total sales performance.
-to improve the total production performance.
-to improve the total profit position.
-to improve the productivity of the organization.
-to fill the distribution pipeline/
-to motivate the sales team.
-to lift the morale of the channels.
-to fulfill the unsatisfied demand among the consumers.
-to grab a chunk of market opportunities.
-to improve market share.
-to meet competition.
-to provide as a barrier for new entrant--substitutes.
-as a productline extension.
-to act as product rejuvenation , with cost reduction.
-product repositioning.
-to act as additional brand
-to act as product replacement.
-to act as new additions to the product portfolio.
etc etc
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STAGE 2
The process
WHAT IS THE SOURCE OF NEW PRODUCT IDEAS.
Ideas for new products can be obtained from basic research using a SWOT analysis (OPPORTUNITY ANALYSIS) customers , the company's R&D department, competitors, focus groups, employees, salespeople, corporate spies, trade shows, or Ethnographic discovery methods (searching for user patterns and habits) may also be used to get an insight into new product lines or product features.
Idea Generation or Brainstorming of new product, service, or store conceptsidea generation techniques can begin when you have done your OPPORTUNITY ANALYSIS to support your ideas in the Idea Screening Phase (shown in the next development step).
HOW WAS THE IDEA SCREENED
The object is to eliminate unsound concepts prior to devoting resources to them.
The screeners must ask at least three questions:
Will the customer in the TARGET MARKET benefit from the product?
· What is the size and growth forecasts of the market segment/target market?
· What is the current or expected competitive pressure for the product idea?
· What are the industry sales and market trends the product idea is based on?
· Is it technically feasible to manufacture the product?
· Will the product be profitable when manufactured and delivered to the customer at the target price?
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Concept Development and Testing
Develop the marketing and engineering details
Who is the target market and who is the decision maker in the purchasing process?
What product features must the product incorporate?
What benefits will the product provide?
How will consumers react to the product?
How will the product be produced most cost effectively?
Prove feasibility through virtual computer aided rendering, and rapid prototyping
What will it cost to produce it?
DID THEY TEST THE CONCEPT by asking a sample of prospective customers what they think of the idea.
Business Analysis
DID THEY Estimate likely selling price based upon competition and customer feedback
DID THEY Estimate sales volume based upon size of market .
· Estimate profitability and breakeven point
Beta Testing and Market Testing
DID THEY Produce a physical prototype or mock-up
Test the product in typical usage situations
· Conduct focus group customer interviews or introduce at trade show
· Make adjustments where necessary
· Produce an initial run of the product and sell it in a test market area to determine customer acceptance
Technical Implementation
-did they conduct New program initiation
-did they conduct requirement estimation
·
ENGINEERING -did they conduct engineering operations planning
· Department scheduling
· Supplier collaboration
-did they conduct logistics plan
· Resource plan publication
· Program review and monitoring
· Contingencies - what-if planning
IMPLEMENTATION
Commercialization
how did they Launch the product
Produce and place ADVERTISEMENTS and other PROMOTIONS
·Fill the DISTRIBUTION pipeline with product
Five different front-end elements (not necessarily in a particular order):
1. Opportunity Identification
2. Opportunity Analysis
3. Idea Genesis
4. Idea Selection
5. Concept and Technology Development
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STAGE 3
NOW WE ANALYZE THE IMPLEMENTATION
1. Define Product or Service
• Describe your product/service and mission in simple terms
• Emphasise your USP “Unique Selling Proposition”
• Communicate intrinsic benefit/value to your customer
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2. Identify Target Audience
• Your audience refers to the people you aim
your sales effort at, otherwise known as your
“target market”. You may have more than one target market.
• This includes two factors:
∗ Who needs your product/service?
∗ What is the profile of your ideal customer
and what are their habits?
• Target markets are described in terms of
their shared characteristics.
∗ For example, if your product/service is
aimed at individuals, you can describe
them by age, income, geographic location, and lifestyle.
∗ If your product/service is aimed at
organisations, you can describe them by
number of employees, sales, geographic location, and industry.
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3. Determine Goals and Objectives
• Set the bar as to what you want to achieve.
• Measure your success against your own efforts, not your competitors.
• Two types of goals:
∗ Quantitative – those with specific, measurable results and numbers.
∗ Qualitative – bring increased value, like improving image or visibility.
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4. Define the Brand
• Focus your message by identifying 3 to 4
“key messages” to be woven through all marketing materials.
• There is a lot of “media clutter” customers
are bombarded daily with hundreds of sales
and marketing messages about numerous products and services.
• To succeed, focus on a particular market and
emphasise features/benefits to them.
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5. Set Pricing
• A guidepost for setting price involves
estimating the monetary value your customer
will receive, and understanding your financial goals and objectives.
• Remember to price the product/service at a
rate higher than your fixed and variable cost.
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6.Establish Marketing Budget
• Set aside a specific dollar amount either per
quarter or per year. You need to make the best
marketing decisions possible to maximise the
return on your marketing dollars invested.
• Evaluate marketing decisions such as
advertising in the yellow pages, hiring sales
reps or conducting a PR program based on
the amount of business a particular initiative generates.
• Track each initiative and evaluate what
worked and what didn’t.
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7. Choose Marketing Strategies
• Strategic marketing tools to deliver your
message to the target audience. Brainstorm
ideas to reach target market. Be creative -
don’t sensor wild ideas.
• Divide into paid, non-paid and non-traditional media.
∗ Paid media: direct mail, newspaper, radio,
TV, billboards, direct sales
∗ Non-paid media – referred to as public
relations because it is exposure through
traditional media without paying for advertising
in that media.
∗ Non-traditional media: includes everything
else — sponsorships, ad specialties,
shows/events, electronic media and the
Internet.
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8. Determine Tactics
• List out specific action steps to achieve each strategy.
• Include deadlines and key dates for executing
all of your marketing activities.
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9. Establish Timing
• Establish a specific timetable for each tactic.
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10. Measure Results
• Track results of your marketing efforts on an
ongoing basis, using tracking devices such as
ad codes, call-in logs and reply cards (if the
budget allows).
• Evaluate at the end of the year or plan period
to see if the results matched your stated goals.
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STAGE 4
WHAT Marketing Communications Mix was chosen /why.
Personal Selling ,
-here the marketing communication is used
*to inform the customers/ prospects
*to create awareness
*to present the product
*to influence the customer
*to sell benefits
*to help the customer to make the buying decision
*to seek commitment
*to help to close the sale.
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Sales Promotion
-here the marketing communication is used
*to inform the customers
*to physically present
*to influence the customers
*to help the customers to feel the product
*to help the customer to make the buying decision
*to offer consumer incentives
*to help the final transactions
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Public Relations (and publicity)
-here the marketing communication is used
*to publicise the company
*to publicise the product
*to publicise the company's research/ development
*to publicise the company image
*to create the company brand
*to inform public
*to communicate with the community.
*to establish relations with government
*to establish community relations
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Direct Mail
-here the marketing communication is used
*to inform
*to talk to individuals
*to focus on niche market
*to inform the decision makers directly
*to advertise cost efficiently
*to promote selected market segments
*to contact individuals for one-to-one marketing
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Trade Fairs and Exhibitions
-here the marketing communication is used
*to inform individuals
*to provide visibility
*to talk to individuals
*to inform the decision makers directly
*to advertise cost efficiently
*to promote person to person
*to contact individuals for one-to-one marketing
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Advertising (above and below the line)
-here the marketing communication is used
ABOVE THE LINE
*to MASS inform the customers/ prospects
*to create MASS awareness
*to present the product
*to influence the customer
*to sell benefits
*to help the customer to make the buying decision
HERE IS PR IS INCLUDED AS A MASS COMMICATION
TOOL .
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BELOW THE LINE
*to physically present
*to make it visible at the point of sale.
*to influence the customers
*to help the customers to feel the product
*to help the customer to make the buying decision
*to offer consumer incentives
*to help the final transactions
*to display and promote
*to merchandise the product
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Sponsorship
-here the marketing communication is used
*to MASS inform the customers/ prospects
*to create MASS awareness
*to present the product
*to influence the customer
*to sell benefits
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Packaging -here the marketing communication is used
-here the marketing communication is used
*to MASS inform the customers/ prospects
*to create MASS awareness
*to present the product
*to influence the customer
*to make it visible at the point of sale
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Merchandising (and point-of-sale)
-here the marketing communication is used
*to create visiblity at the point of sale.
*to influence the customers
*to help the customers to feel the product
*to help the customer to make the buying decision
*to offer consumer incentives
*to help the final transactions
*to display and promote
*to merchandise the product
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EMarketing (and Internet promotions)
-here the marketing communication is used
*to inform
*to talk to individuals
*to focus on niche market
*to inform the decision makers directly
*to advertise cost efficiently
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Branding (and corporate identity)
-here the marketing communication is used
*to create an unique position for the company
*to create an unique position for the product
*to create unique visibility
*to make it easy to identify
*to make it easy to buy
*to make it easy to sell
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STAGE 5
FOR MEDIA STRATEGY / SELECTION.
• What goals do you want to accomplish?
Pinpoint very specifically the action and/or awareness that you want your target
audience to adopt.
• Who is the target audience?
The target audience is a segment of a population that will receive the media
message. Carefully dissect the population into the target category by profiling
the audience to better understand their attitudes, knowledge, and behavior.
Knowing what the target audience thinks about the issue at hand and where they
obtain information will play an important part in determining appropriate media
channels used in delivering your message.
• What messages will bring about the desired change or outcome?
Message development is of utmost importance. The root message should come
from quality discussion and brainstorming. The root message also should
position your goal in a unique and appealing way to the target audience. Choose
more than one message (but no more than three) to prevent staleness and to
encourage a view from different angles. Suggestions for message development
include: interviews, surveys, focus groups, and piloting materials with the target
audience.
• What media channels will be the most efficient and cost-effective?
There are several categories of mass media: News media includes television,
radio, newspapers, magazines, and periodicals. Advertising and public service
announcements may involve print, radio, television and billboards/bus boards.
Public affairs events may include rallies, conferences, and speeches. To help
inform the decision of which type or types of media to use, be aware of where
the target population gets its information, which channels are most/least
believable, what your budget will support, and what will provide adequate
“dosage” of the messages on a regular basis. Building and maintaining
relationships with local media will aid in better results during a campaign.
• How will progress be monitored?
There are two common evaluation techniques to consider for evaluating a public
awareness campaign: process and outcome. A process evaluation will ask
questions such as “how is the implementation going?” or “are we meeting
benchmarks”? An outcome evaluation will focus more on the number of people
reached or how behavior has changed. Through
ongoing evaluation measures,
you will know
- whether your messages and supporting materials are being seen,
- whether your messages are perceived to be credible and plausible, and
- whether your messages are affecting behaviors.
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STAGE 6
FINALLY, THE ANALYSIS OF THE OUTCOME.
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In this way, you have to frame questions in all stages,
-analyze the answers.
-the outcome will be the judgement of the project.
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YOUR PROJECT REPORT COULD INCLUDE
1.Introduction
2.Purpose
3.Benefits
4.Mission of the project
5.RESEARCH DESIGN
6. METHODOLOGY USED
7.project objectives
8.project deliverables
9.project schedule
10.ANALYSIS
11.FINDINGS
