Business Analysis Core Concept Model (BACCM)
The Business Analyst Core Concept Model (BACCM) comprises of six fundamental concepts that are interrelated through a dynamic theoretical system. Undeniably, this is a powerful tool for a systematic understanding of controlled organizational change. This defines the framework for the business analysis profession. Let’s explore the six critical components of the model.
It refers to a controlled transformation of a business. The aim is to promote favourable change and avert the downsides. It transforms the organization to improve its value. A change can be achieved by initiating a project or a program. These changes can be managed as consistent improvement initiatives. In terms of its relations with other model components, a change will involve various stakeholders in different ways. Also, it may be revolved otherwise in different contexts.
Stakeholder and Need:
An individual or a group that intends to influence the change or the solution. They are involved at varying levels. On the other hand, a need can be a problem, an opportunity or limitation with potential value to a stakeholder or organization. The cycle of value, change, and stakeholder lets you integrate loss aversion and prospect theory for better understanding of stakeholder motivation. The relation between stakeholder and need shows that different stakeholders may have varying needs regardless of the same project or change. For instance, if you are updating an e-commerce website, the customer stakeholders will probably need convenient and quick access to products. Whereas, marketing stakeholders may consider this as a great opportunity to gather consumers’ data. To balance the stakeholder needs requires effective evaluation and designing a solution.
It’s a certain way to satiating a need in a context. A design is a practical illustration of a solution. Speaking of the association between stakeholder and solution, it represents that different stakeholders have diverse ideas about the solution. Again, consider the example of an e-commerce website, the customer stakeholders will probably look for a quick checkout option which doesn’t require to fill many data fields whereas marketing stakeholders may want the checkout procedure to ask consumers what they have learned about the website and in what products they are interested in. To balance these varying preferences in the solution is crucial and therefore requires detailed analysis of costs and benefits of each.
This is the significance of something to a stakeholder in a context. Value has a deeper concept that goes beyond money. It’s an easy theory to understand but difficult to measure. Value is the benefit that the stakeholders receive from the solution. Preferably, benefits are measurable such as increased revenue and decreased costs but they are mostly subjective. The association between value and stakeholder retells us that different stakeholders will receive different types of value from the solution.
It encompasses the change by referring to the background and setting in which you are functioning. This component of the model is very critical as solutions are implemented in environments where other procedures and systems are already present. It’s important to understand how a new solution will interact with its setting. Stakeholders work in varying contexts and therefore the solution function differently in dissimilar environments.
All these concepts are important, equal and necessary to understand the full extent of the value that could bring by the change for the stakeholders in a specific context by implementing a solution which will satisfy his/her needs. These concepts help to interpret other concepts, therefore to understand a concept fully, we need to understand the role of 5 other concepts.
Quick Links for Project Management
|Articles||Seminars||Knowledge Areas||Process Groups||Terms and concepts|
Don’t forget to join and subscribe,
Don’t forget to visit PMP Certification Simplified!
A 9-week online training course designed for you, a PMP Aspirant, by taking out the Guesswork from your Quest towards the Ultimate Goal, The PMP (Project Management Professional) Certification