Best Proven Business Models to Consider for your Business

Best Proven Business Models to Consider for your Business

  • January 17, 2018
  • Technology

What is visual Modelling?

Visual Modelling is Graphical representation using a modelling language that takes something

Complex and makes it easier to understand

Visual Modeling Kuwait

 Benefits of Visual Modelling

  • Easily understand complex information
  • Gets all stakeholders involved
  • Receive requirements efficiently
  • Identify the underlying problem
  • Analyse ‘what if ‘ scenarios
  • Allows removal of irrelevant information

Business Models

  • Organizational chart

An organizational chart is a diagram that shows the structure of an organization and the relationships and relative ranks of its parts and positions/jobs.

  • Competitive comparison Matrix

Competitive matrix shows how different competitors stack up according to significant factors. It is a comparison of your product or service in the light of those factors of competition.

  • Stakeholder Map

Stakeholder mapping is a systematic approach to managing relationships with stakeholders to ensure that the positive impacts of stakeholders are maximized and negative impacts are minimized.

  • Use Case Diagram

use case diagram at its simplest is a representation of a user’s interaction with the system that shows the relationship between the user and the different use cases in which the user is involved

  • Process Flow Diagram

Process Flow Diagram (PFD) is a type of flowchart that illustrates the relationships between major components at an industrial plant.

  • User Interface Wire frame

Wire framing is important because it allows the designer to plan the layout and interaction of an interface without being distracted by colours.

Technical Models

  • System Context Diagram

This is very high level system that showing what people and system interactive that system. They show interaction of data

BPMN VS UMI

Business Process Model and Notation (BPMN) is a graphical representation for specifying business processes in a business process model.

UML (Unified Modelling Language) is a standard language for specifying, visualizing, constructing, and documenting the artifacts of software systems

BPMN vs. UML: Common Parts

  • Activity-Activity within a process, triggered by an event
  • Event-Manual or automated action ,or delay in time that triggers an action
  • Gateway-Split of pathways, where multiple paths can be taken or decision on a path must be  Made per a condition
  • Flow – Direction of the sequence or order of events and actions
  • Swim lanes-Visual distinction of who is doing what within a process

The focal difference between UML and BPMN is that UML is object-oriented, Whilst BPMN takes a process-oriented approach, more suitable within a business process domain.

Requirement Specification

Requirement Specification is a description of a software system to be developed. It lays out functional and non-functional requirements, and may include a set of use cases that describe user interactions that the software must provide.

Categories of Requirement

  • Functional

A functional specification does not define the inner workings of the proposed system; it does not include the specification of how the system function will be implemented

  • Non Functional

Non-functional requirement (NFR) is a requirement that specifies criteria that can be used to judge the operation of a system, rather than specific behaviours

Why Categorize Requirements

  • Aids in documentation
  • Helps to prioritize
  • Assists in estimating the system cost
  • Identifies area that require further investigation

Deriving Requirements

  • Parsing Requirements

Breaking down requirements that are too broad

  • Interpreting Requirements

Reduce generalness and ambiguity of stated requirements

  • Focusing Requirements

Combine overlapping requirements into one focussed requirements

  • Qualifying Requirements

Add requirements to provide a method of verification or compliance

Assign Requirement Attributes

The values you assign to each attribute help to organize, analyze, and prioritize the requirements in your project. Each new requirement type is assigned default attributes by the system. You can delete, modify, or add an unlimited number of other attributes at any time during your project.

Why Assign Requirement Attributes

  • Clarification
  • Filtering
  • Validation

Typical Attributes

  • Unique Identifier

Means unique to that specific requirements

  • Acceptance Criteria

Specific conditions that must be met during the process in which those deliverables are assembled and completed

  • Author
  • Complexity
  • Ownership
  • Performance
  • Urgency
  • Business Value
  • Status
  • Type
  • Priority
  • Source

Prioritize Requirements

Generally there are too many functions and features to implement within the project schedule and budget

Prioritization Factors

  • Value to the business
  • Value to the customer
  • Minimize the cost to develop
  • Time to implement
  • Ease of technical implementation
  • Ease of business implementation
  • Obligation to some external authority

3 step of Prioritization Process

Step 1

Define usefulness to business (critical, important, nice to have_

Step 2

Estimate cost (1-5 scale)

Step 3

Determine timeframe (1-5 scale)

Best Practices

  • Keep it simple
  • Business value reigns supreme
  • Remove prioritization away from politics
  • Prioritize after each project iteration

Requirements Approval

  • Business Team Approval

We need to check all requirement is accurate and valid also check the documentation

  • Technical Team Approval

Validate the design the technical team can be do this design and it is technically   feasible

  • Project Sponsor/Committee Approval

We need to check the all design, documentation and solution presenting the high level meeting

 Business Approval: Schedule

The Business Approval Register is a directory of businesses offering home improvements and other professional services.

  • Schedule multiple review sessions
  • Separate business units
  • Never exceed four hours per session
  • Involve subject Matter Experts(SME)
  • Keep it relevant to the audience
  • Create meeting agenda

Business Approval: Conduct

  • Explain the purpose of the meeting and the agenda
  • Review project and objective
  • Go over each requirement
  • Address questions and concerns immediately
  • Change and update requirements
  • Table all new requirements unless deemed critical

 

Technical Approval

The process relates to design, construction, assessment, alteration, strengthening and repair. The purpose of the technical approval process

  • Explain the purpose of the meeting and the agenda
  • Review project and objective
  • Touch on each section of requirements
  • Identify any major technical concerns
  • answer questions
  • Verify enough detail for design phase
  • Update project estimated cost

Sponsor/Committee Approval: Schedule

It is the process of presentation to talk high level important about the project

  • Create presentation to talk high level about project
  • Update project schedule, cost, and risks
  • Summarize the business requirements
  • Define recommended solution
  • Anticipated transition to the solution
  • Majority of the presentation should be visuals and charts
  • schedule approval meeting with Sponsor/committee
  • Invite business and technical project leads
  • Create meeting agenda

Sponsor/Committee Approval: Conduct

  1. 1. Explain the purpose of the meeting and the agenda
  2. Review project and objective
  3. Give your presentation
  4. Address questions and concerns immediately
  5. Gain official sign off on the project

 

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