Project analysis basically entails the creation, management, and disbursement of reports that are related to a project. It also incorporates several other aspects such as the maintenance of project assets, monitoring and evaluation of the project, and drafting of the relevant reports.
The benefits of project analysis:
1-Determines Feasibility of a Project:
Not all projects may serve the purpose intended. Some may be viable, but may still fall short in other areas. It is through the analysis of projects that their suitability is determined. This can, therefore, determine whether the project is worthwhile or not.
2-Improves Project Planning and Scheduling:
It is through the process of project analysis that any issues that may hinder the smooth implementation of projects are identified and dealt with. Once these issues are dealt with, the planning and scheduling of projects can now go on smoothly.
3-Detects and Mitigates Risks:
All projects are subject to several risks such as poor design, poor implementation, pilferage of resources, and so on. Through analysis, these issues are identified and dealt with appropriately. This way, they are prevented from worsening and inflicting further damages.
4-Aids in Budgeting:
As already stated, projects cost money. They must, therefore, operate within the predefined parameters and budgetary constraints. The analysis ensures that the projects run within the stipulated budgets. This is because it identifies any inconsistencies and enables them to be dealt with timely.
5-Expedites the Monitoring and Evaluation of Projects:
At the end of a project, an assessment is often carried out to ascertain the efficacy of the project as well as whether it has indeed lived to its purpose. By carrying out analysis from time to time, the process of assessing the project later becomes easier.
How do you analyze software?
Here are the main activities involve in requirement analysis:
(please use charts here)
1-Identify customer's needs.
2-Evaluate system for feasibility.
3-Perform economic and technical analysis.
4-Allocate functions to system elements.
5-Establish schedule and constraints.
6-Create system definitions.
A project plan normally lists down all the client requirements. But sometimes, it fails to go into the details. The most important thing in this analysis stage is drawing out the team’s attention on priority requirements. These are the requirements that the client places high value on. While a client may let go of a minor glitch in low-value requirements or the additional features you put in, an error in the high-value requirement can mean sour relations and backlashes from the client. In this type of analysis, you also see if the client approvals are being taken regularly and if client’s requirements are being fulfilled at each stage of the project.