3: Metrics and KPIs (10%) Purpose "Metrics and key performance indicators measure the performance of solutions, solution components, and other matters of interest to stakeholders" (IIBA, 2015). The purpose of this assignment is to gain an understanding of the different aspects of defining, collecting, analyzing, and reporting on metrics and KPIs. In the context of the Solution Assessment and Evaluation course, the business analyst should begin to understand how they can be used to measure and analyze solution performance and how well it aligns with business goals and with desired and potential value. How to Proceed Begin by reviewing the following resources: Unit 3 notes; and Section 10.28 - Metrics and KPIs in the BABOK. Complete the exercise and submit it to the Assignment 3 dropbox on UM Learn. Case Study The Manitoba Mutual Insurance Co. (MMIC) is kicking off a new project that has two core items in scope: upgrade the customer self-serve portal to enable customers to make modifications to their own insurance policies and update their document production and distribution. For this assignment, we will focus on the former objective. The key business objectives for the portal upgrade are listed in Table 1. Table 1: Business Objectives ID Business Objective BO1 Allow customers to view and edit characteristics of their policies (e.g., add or remove coverages, change coverage limits, etc.). BO2 Save the customer time. BO3 Save the Underwriters time for simple policy changes. BO4 Provide an automated quoting process for any changes applied, using standard book rates and applying standard discounts when the customer is eligible. BO5 Bind and issue limited changes immediately (according to predefined rules of what can be bound and issued automatically). BO6 Notify the client and forward the quote to an underwriter, when human review of the changes is required for approval. BO7 Collect data for reporting on all quotes, especially those where the client quoted but did not apply the changes. BO8 Address customer complaints with respect to inconsistency in rates. Regarding BO8: It is suspected that different underwriters are providing different quotes to customers today. Nobody has attempted to measure this issue, but all underwriters are required to keep a spreadsheet of the quotes they provide under the current process, including dates quoted, coverage details, and rates. These objectives align with some of the business goals defined in the project charter, including: Provide meaningful different ways for clients to interact with the company; Improve efficiency of the Underwriting team; and Provide consistently competitive rates. The key stakeholders from the Underwriting, Actuarial, and Billing departments would like a way to measure how successful these changes will be in aligning with these goals. Indicators to use in the exercise: Indicator 1 What is the perceived value of the customer portal before and after the changes for all customer segments? Indicator 2 - Is the new functionality saving the underwriting department time? Indicator 3 - Are quotes consistent and providing appropriate rates? Exercise Exercise 1: Collection, Analysis and Reporting Briefly explain (100 words or less), the difference between collection, analysis and reporting, in the context of Metrics and KPIs. Exercise 2: Analyze the Indicators Given the three indicators in the case study, define one portion of the indicator (be creative), and list the key strengths and weaknesses of each indicator in relation to the desired business value. For each Indicator, try to be brief in your explanations (200 words or less for definition, strengths, and weaknesses): Indicator 1: Define the collection process. Indicator 2: Define the analysis process (assume all the data types you need for analysis were collected). Indicator 3: Define the reporting process (assume data collection and analysis provide what is needed for reporting)