IFN515 Fundamentals of Business Process Management Improving a Business Lending Process GUT Assignment 2 Description After the completion of the AsIs process modelling (in Assignment 1), your Consulting Team (three members) has been asked to conduct a targeted process analysis and improvement project for the Business Lending Process (BLP) in the Fictitious Banking Organisation (FBO). One of the key business goals set by the executive team of FBO is to have FBO become the financial institution of choice for business loans. This means that the BLP, the core process for delivering the business loan services and products, should be efficient, timely, customer focused and have minimal duplication of effort, while at the same time mitigating its risk exposure. It is expected that your project will contribute towards this goal. Your team has been asked to produce a short report (at most 30 pages), which documents the completion of the following tasks: Task 1: Analysis of the current BLP. Specifically, the FBO management team is interested in: a) the identification and analysis of process waste; b) the development of a comprehensive register of issues in the current process, including their root causes; and c) a discussion on their impact on the efficiency of the BLP. Your findings should be supported by a detailed analysis through the application of appropriate analytical techniques. Note: given the amount of data available, it would be difficult to conduct meaningful queueing analysis and simulation. Hence, you are NOT required to use these two analysis techniques. Task 2: Improvement of the current BLP. Specifically, your consulting team is expected to identify: a) several different process changes which can benefit the process. Focus on enhancement, but also include derivation and utilisation. b) at least one improvement idea (for part/all of the business loan process) which has been derived from existing practice. c) at least one improvement idea (for part/all of the business loan process) which exploits an existing resource at the bank which is currently underutilised. For each new idea presented, you are expected to: o Classify the idea as a short term (next 3-6 months) or long term (next 13 years) improvement. 0 Explain the qualitative and quantitative benefits of the idea, when implemented. - Assess the feasibility of your improvement recommendation