Business analysis can be defined as the set of tasks and techniques used to work as a liaison among stakeholders to understand the structure, policies and operations of an organization and to recommend solutions that will enable the organization to achieve its goals. Conducting an effective business analysis involves carrying out five (5) key steps. Identify and explain each of these five (5) steps in detail.

 

Key steps are: 

Classifying the problems affecting the organization as well as the opportunities.

Identify constraints and business needs from stakeholders. 

Analyzing the needs of stakeholders in order to outline the business requirements for a solution.

Assessment and validation of potential and actual solutions.

Managing the scope of requirements