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Sales Business Process in Loan Agreements

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How to create outlook signature

are you tired of wasting your time on  requirements that nobody wants if so   stick around for this tutorial on creating  an effective business requirements document hey Doc Squad Dr White here with the business  analysis doctor today I'm giving you a detailed   tutorial on creating an effective business  requirements document but before we get started   if you want more business analysis training  and tips be sure to subscribe to the page and   turn on the notification Bell with that said  let's get started now let's talk about what   you'll learn first we'll look at what a business  requirements document is or BRD we'll look at the   primary BRD audience then we'll look at the main  components of a BRD we'll look at some BRD best   practices and then we'll look at an example of  a business requirements document so what does a   business requirements document this is a formal  document that outlines high-level requirements   including business and stakeholder requirements  it describes the project rationale the scope of   the project as well as the key stakeholders the  business requirements document is often referred   to as the BRD business requirements documents  are used to create stakeholder alignment on   the business needs create a shared understanding  of the solution scope what needs to be achieved   and the required resources it also provides  a basis for decision making regarding scope   prioritization and resources so who is the brd4  the primary audience for the business requirements   document includes the sponsor who's responsible  for the overall success of the project and will   be the final decision maker regarding the project  goals and scope senior Executives and high-level   decision makers need to understand the business  goals of the project and how they align with the   Strategic goals of the overall organization the  subject matter experts will provide significant   input and insight into identifying the business  needs and defining the objectives scope and   expected outcomes marketing and sales teams may  need to understand the overall scope and direction   of the project in order to develop effective  messaging and marketing strategies external   stakeholders such as vendors and partners may be  interested in understanding the broader business   objectives and direction of the project in order  to allocate the proper resources to support it so   the main components of a business requirements  document includes business requirements   stakeholder requirements the business process  overview scope and limitations a glossary   an appendix and the approvers and sign off the  first section we'll look at is the business   requirements business requirements are statements  that describe the problem or opportunity the goals   the objectives and the expected outcomes unlike  stakeholder or solution requirements business   requirements are a combination of different  types of statements that represent the high-level   business needs and the reasons for the project  the main components of the business requirements   documents section includes the following need  statement the need statement comes in the form   of a problem statement or an opportunity statement  problem statements describe internal or external   issues that cause damage to the organization  this focuses on current problems such as Revenue   loss dissatisfy customers delays and operations  and services or non-compliance with regulatory   requirements these problems need to be resolved  by the project opportunity statements describe   the current situation and outlines the potential  areas of growth for improvement in a particular   area this may include opportunities to increase  areas such as Revenue customers markets reputation   Etc these opportunities are to be seized by  the project next is business goals business   goals are statements that describe longer term  ongoing and qualitative States or conditions that   the business is seeking to achieve and maintain  high-level goals are generally broken down into   various areas to include the expected results for  example improve customer satisfaction increase   market share enhance brand recognition or create  new capabilities next is business objectives these   are quantifiable results expected from achieving  the goals these are measured to assess whether or   not the goals have been met a common approach to  validating objectives is to ensure they meet the   smart criteria the first Criterion for the smart  objectives is being specific specific objectives   describe something that has an observable outcome  measurable objectives are trackable to measure the   outcome attainable objectives are feasible in  relation to the effort and the goals relevant   objectives align to the Enterprise's vision  mission and goals and time-bound objectives   Define a time frame that is consistent with the  need the last component for business requirements   is Success metrics these are indicators  that are measured in order to assess the   factors that have the greatest impact on the  Project's success business objectives indicate   the progress toward meeting the overall business  goals while success metrics are the elements that   get measured to indicate the progress towards  meeting those objectives now let's discuss the   main components of the scope and limitations  section the first element in this section   is solution scope this is the new features and  capabilities that comprise the boundaries of the   change and the characteristics of the solution  the more requirements approved the larger the   solution scope it's best practice to indicate the  solution components that are in scope as well as   out of scope for the project the solution scope  May describe changes to functions capabilities   technology business rules data or processes next  we have the stakeholders these are the people or   groups who will be impacted by the project  including internal and external stakeholders   key roles and responsibilities may be outlined  here as well constraints are influencing factors   that cannot be changed and create limitations  or restrictions on the product or solution   raw projects may have both project and solution  constraints the BRD will only include solution   constraints assumptions are influencing factors  that are considered to be true but has not been   verified they could also be conditions that  are true now but may not be in the future these   assumptions are confirmed or disproven prior  to making any decisions on which they impact   dependencies are the components of the solution  that are dependent on the completion of internal   or external project factors common dependencies  may be the implementation of requirements that   are dependent on other requirements decisions to  be made resources funding or other constraints   outlining dependencies is an easy way to better  understand what tasks need to be completed and   in what order the next section is the business  process overview a business process describes   how work is performed within the organization  including the steps involved the roles and   responsibilities of those involved and the systems  and tools used to execute the process by including   the business process in the BRD stakeholders can  get a better understanding of how the business   operates and how the proposed solution will  impact existing processes this information is   important for defining the scope and designing the  solution that meets the needs of the business it's   generally best practiced to include a depiction of  the current state and the future State the current   state is a depiction of the existing state  representing how a process within the context   of the project is currently performed in the  organization this is often represented as an as   is process model the future state is a depiction  of the desired or Target State representing how   process is expected to be performed within the  scope of the project after changes have been made   this is often represented with a 2B process model  the next section to include is the stakeholder   requirements stakeholder requirements are  statements that describe the needs of the   stakeholder or stakeholder group that need to be  met in order to fulfill the business requirements   please note that solution requirements such as  functional and non-functional requirements should   not be included in the business requirements  document those are reserved for more detailed   requirement specifications that come after  the vrd has been approved we'll talk more   on that later in the lesson a complete list of  stakeholder requirements should convey the key   features of the solution these statements will  be decomposed into solution requirements in   Downstream specification documents it's often  helpful to group The stakeholder requirements   by stakeholder groups it could help to ensure  the requirements are organized in a way that   ensures that each stakeholder understands which  requirements are relevant to them and can avoid   confusion it also makes it easier to track  progress on individual requirements to ensure   that all stakeholders have provided their input  now let's look at the supplemental sections of   the business requirements document these are  additional sections that provide additional   context background information or supporting  details that are relevant to the business   requirements these sections can vary based on  the project and organization common supplemental   sections that may be included in the BRD include  the glossary of terms which provides a common   understanding of the terms that are used in the  BRD this is especially critical when a term may   have different meanings for different stakeholders  or if there are acronyms that need to be defined   for stakeholders who may not be familiar with them  the appendix includes any attachments or links to   additional information outside of the actual BRD  that is relevant to the project such as diagrams   charts or tables and finally the approvers and  sign off this section includes the signatures   of all stakeholders with decision-making  authority to indicate their approval of the   business requirements document a signed off BRD  ensures that all stakeholders are in agreement   with the requirements outlined in the document  now let's take a look at some best practices   for the business requirements document it's best  practice to document business requirements in a   separate document prior to including it as part  of a larger document that contains all levels of   requirements here are some reasons why a BRD  is needed before a functional requirement or   a software requirement specification document is  developed first of all a BRD provides context and   scope having sign off on the BRD helps to ensure  that the upcoming detail requirements focus on the   right goals and objectives and insurance coverage  for all necessary features and functionalities it   prevents waste having sign off on the BRD  also helps prevent wasted time and effort   spent on analyzing and documenting detail require  environments that don't align with the business   objectives are deemed to be out of scope the BRD  helps guide decision making by providing a clear   understanding of the business requirements and  priorities this helps the analyst and development   team prioritize features and functionalities  based on business value it manages expectations   the business requirements document helps  manage expectations early by providing a   clear understanding of the expected outcomes  if business expectations around capabilities   are unrealistic the project team can redirect the  business to more feasible expectations early on   now let's look at an example business requirements  document to start you would include the name of   the project the version number and date I  usually like to include the company logo   on the document that I'm creating then we have  the revision history here you would include any   changes that are made to the document as they  are reviewed you can use whatever numbering   convention that works best for the organization  next is a basic table of contents so the first   section is the business requirements section  here I've highlighted some key areas of the   problem statement which states that the admissions  department is currently bombarded with calls and   appointments with students and potential students  who need information and assistance currently the   department has been exceeding application slas  by two weeks on average then we move on to our   business goals the goal of this project is  to improve service and increase efficiency by   revising the department's website to enable  self-service for all applications and forms   related to the admissions department so there are  some key objectives that we'll need to achieve one   is that we want to reduce Department call volume  by 50 percent within one month of implementation   as you can see here all of these objectives meet  the smart criteria mentioned earlier in the lesson   now let's look at the success metrics so one of  the metrics is the number of incoming scheduling   and financial aid calls per month now let's move  on to the scope section here we discuss what's in   scope as well as out of scope then we have a table  of the key stakeholders our business constraints   assumptions and dependencies one of the business  constraints is that only forms that do not   require a wet signature can be submitted online an  assumption will be that the website is available   24 7 outside of scheduled maintenance and one of  the dependencies could be that the students will   need to create online accounts to submit the forms  the next section is the business process overview   as you can see it includes the process map  for both the as is and the 2B feature state   for details on creating a process map using  bpmn see the link in the description the next   section is the stakeholder requirements the  general format for stakeholder requirements   is to include an after an action and object and a  qualifier if appropriate so the first stakeholder   requirement here states that students must be  able to identify all functional areas within   the admissions Department from the home page  again I'm not decomposing these into functional   requirements because those are reserved for more  details documents like a functional requirements   document or a software specification document  also in this example we can assume that this is   a waterfall project but if your organization is  using agile or a hybrid model this section could   also be a list of high-level user stories instead  next is our glossary of terms as you can see I've   defined SLA which is a service level agreement to  respond within 48 hours this term was used in our   problem statement now we have the appendix where I  included links to some relevant documents such as   the business case and the full versions of the  process maps that were included in the BRD and   finally we have our approval and sign off section  where we get our approvals and signatures from the   key decision makers once we get the sign off we  have the green light for this to serve as an input   for our detailed requirements document well there  you have it folks that's what you need to create   an effective business requirements document if  you learned something new tell me about it below   and I'd love to hear your feedback also be sure  to check out all the business analysis and ba   certification training and resources we have for  you available at my website thebadoc.com thank   you so much for watching have a productive and  prosperous day and I'll see you next time bye now

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