Wednesday, 24 August 2016 08:55

Why Good Business Analysis Is a CIO's Best Friend

Written by

A CIO needs a trusted partner to facilitate joint ownership between business and IT to deliver business value, reduce risk, and remove project blockages.

Business analysis is about improving business performance. It is the foundation for innovation, business agility, cost reduction, cyber security, and risk control. Good business analysis allows you to deliver better products and/or services to your customers, often through leveraging digital technology.

Related Article: The Business Analyst's Best Friend: The CIO

To deliver a successful strategy using technology, good business analysis is a must. By working with an expert in business analysis, your projects or initiatives will be created for you to the highest of standards, and you’ll also have a far lower risk of failure.

You’ll achieve peace of mind knowing your business will have:

  • greater engagement with IT
  • a very good result in alignment with your IT strategy
  • a better chance of making new changes stick
  • decisive project decision-making at a portfolio level
  • improvement of projects or initiatives and a lower chance of failure
  • change in support of improved technology
  • improved results
  • a higher return on investment.

Effective business analysis engages and empowers stakeholders, allowing them to find better ways to deliver value to customers.

A great business analyst can cost the same as an average one—so why would you settle for less?

Here's the thing about business analysis

Business analysis is all about helping your company to think about the "why" before going ahead with a strategy, which will prevent technology initiatives from providing little or no value to your organisation.

Here's an example of proper business analysis. A client sought a solution to manage their approval process and documents. These were associated with their major energy capital projects, having a value of up to $100 million.

We analysed the business process automation, mapped the future state processes, and explored the business and functional requirements through a series of stakeholder workshops. Using aspects of our method and customised templates was in line with the Business Analysis Body of Knowledge (BABoK®).

Based on these documented processes and requirements, we developed an automated workflow solution.

The outcomes of the process automation solution were:

  • increased consistency of the approval process
  • an automated audit trail for the approvals
  • an increase in document tracking, resulting in a greater efficiency with approvals
  • a reliable mechanism for staff to determine the status of payment requests and payments
  • reduced time spent on approvals by eliminating manual approvals
  • reduced resource wastage on printing
  • reduced physical file storage.

In the final analysis, we found that minimised delays for approvals reduced the external contract resources required for approval processes. Within six months, the cost of developing the solution was paid for by the benefits of the automated workflow.

An expert business analysis requires a unique skill set that many senior executives have never experienced. However, you need to engage in a proper business analysis to provide a greater chance of project success.

As increasingly competitive organisations look to become more innovative to survive and prosper with technology, business analysis is critical.

If you want to stand out as a CIO from the rest, then you need good business analysis!

Tim Coventry

TopContributorTim is the CEO for Business Analysts Pty Ltd (BAPL) - an expert business analysis company offering business analyst services for to ASX listed & private companies, government and not for profit organisations. APL is an Australian owned and operated company with 50 consultants operating from offices in Melbourne, Sydney, and Brisbane. Internal practice uplift allows us to quickly ramp up with demand and maintain a very high level of competency.

With over 22 years’ experience and a strong contribution to business analysis across the globe, Tim is an acknowledged expert in his professional field.

Tim has expertise in all phases of the solution delivery life cycle with substantial practical experience in strategic analysis, business process analysis, requirements, tendering and evaluation and software implementation. He holds a Bachelor of Education, Workplace Category IV Trainer and Assessor Certificate, and is a Certified Business Analysis Professional (CBAP).

Tim has presented at the BA World Symposiums in 2008, 2009, 2010 and 2011, Building Business Capability in 2013 and 2014, PMI EMEA Global Congress 2015, IIBA Australia Chapter BA Professional Day 2013 and 2015 and participates regularly in International Institute for Business Analysis (IIBA®) forums.

With a strong background in education and assessment Tim has a keen interest in business analysis competency models, is an author of the IIBA® Competency Model and is a past IIBA® Australia Chapter President.

© BA 2020

macgregor logo white web