The requirements and problems of a business/project should be studied and understood by a BA, and he/she should set a scope for the business problem. A feasibility study is identifying the possibility (success rate) of the proposed idea for a business problem. It helps identify new opportunities and focus on the project.
A risk is defined as an uncertain event that causes a threat to the existing business, which can cause an impact on revenue or sometimes on the profits of a business. Risk-management techniques such as risk avoidance, reduction, transfer, and acceptance can be used. We have to identify, analyze, evaluate, and control the risk in a business.
There are five phases in project management which include:
A project will involve a set of activities from start to finish. A critical path is the set of activities that includes the longest path in the whole project. So, critical path analysis is a key component in reducing project timelines and controlling cost.
Our Business Analyst Course Trainers in our Elegant IT Services
Business Analyst Course Placement through Elegant IT Services
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