You’re expected to reduce project delays.
It’s funny, because business analysis means that project delays are almost guaranteed. After all, you might have to restructure an entire system to get the requirement-driven result.
But how do you shorten the necessary downtime AND achieve the foundation-shifting results your stakeholders need?
First, it’s important to factor in two common byproducts of business delays—project costs and opportunity costs.
Business delays and project costs.
If you’ve been playing the BA game for a while, you know about business delays. In reality, downtime is often necessary to implement a robust solution.
But for every month of delay, there is money lost, which most all of your stakeholders will dislike. The costs begin to add up, and some stakeholders might think that the overall implementation plan might not be worth its weight.
To limit the project cost risk, make it a point to stick to a date of completion. While you need a little wiggle room, be sure to complete the project as soon as possible, as long as you don’t let anything slip through the cracks.
Business delays and opportunity costs.
Opportunity costs fall under two categories: lost revenue and impeded workflow.
When you tackle a project, at least one goal will be to increase financial solvency. In other words, your work makes your stakeholders more money. Another ingrained goal is to streamline efficiency. In short, you just make life a little easier.
This is almost always the case, but with project delays there will be a stop to the revenue stream and operations. Each day of postponement means that stakeholders might start asking questions more and more.
To limit the opportunity cost risk, design a plan that produces major ROI. Outline a project scope that outlines step-by-step the milestones you’ll complete and the results your work will create.
The solution: COMMUNICATION
It boils down to telling your stakeholders what to expect, revealing your plan step-by-step, projecting a timeframe, and facilitating the action steps.
To do that, it’s important to convey information and make sure everyone is on the same page…
But that’s one of the biggest problems business analysts run into.
Without effective communication, you don’t have the right requirements on hand, and project delays will take even longer.
Avoid situations like this!