IIBA Updated CBAP Exam Questions and Answers by emre

A capabilities gap assessment is a process of identifying and analyzing the gaps between the current and desired capabilities of an organization. It helps to determine what new capabilities are needed to achieve the business goals and objectives, and to seize the business opportunities1. A business opportunity is the chance to take advantage of an occurrence in the market for business gain. It involves some kind of favourable condition that can be used to create and implement ideas and innovations, solve problems, and maximize profits2.

If an organization does not have the necessary resources and technology to seize a business opportunity, the most likely course of action is to launch a new project. A project is a temporary endeavor undertaken to create a unique product, service, or result3. By launching a new project, the organization can allocate the required resources and technology, define the project scope, schedule, and budget, and deliver the desired outcome. A new project can also help the organization to close the capabilities gap, improve its performance, and gain a competitive advantage in the market.

The other options are less likely or not feasible. Hiring additional resources or contractors may not be enough to close the capabilities gap, as they may not have the relevant skills, knowledge, or experience. Moreover, hiring may incur additional costs and risks for the organization. Moving onto the next opportunity may not be a wise decision, as it may result in losing a valuable chance to grow the business and satisfy the customer needs. Therefore, launching a new project is the best course of action for the organization. References:

• Capabilities Based Assessment (CBA) - AcqNotes
• What Is Business Opportunity? – Importance, Types … - Feedough
• Project Management Basics: What Is a Project? | PMI

Benchmarking is a business analysis approach that involves comparing one’s own performance, processes, or products with those of other organizations, especially the best performers or industry leaders, to identify gaps and opportunities for improvement. Benchmarking can help business analysts understand the competitive landscape, identify best practices, set realistic goals, and measure progress. In this question, Sally and her business analysis team are using benchmarking to determine what the competition is offering and how they can increase their revenue by remaining competitive. References:

• CBAP® Handbook, page 15, section 4.1.2.3
• BABOK® Guide, page 32, section 3.2.3
• CBAP / CCBA Certified Business Analysis Study Guide, page 96, section 3.2.3
• What is a Competitive Analysis — and How Do You Conduct One?

Prioritizing requirements is a process that helps business analysts and stakeholders to rank the requirements according to their importance, value, urgency, and dependency.Prioritizing requirements helps to ensure that the most critical requirements are addressed first, and that the available resources are allocated effectively. Prioritizing requirements also helps to manage the scope, schedule, and budget of the project, and to deal with changes and uncertainties. Prioritizing requirements is not only about determining the cost or the schedule of each requirement, but also about understanding the impact and the benefit of each requirement on the business need and the solution. Prioritizing requirements is not only about identifying the risks associated with each requirement, but also about mitigating or avoiding those risks by choosing the best solution option. References:

• [A Guide to the Business Analysis Body of Knowledge (BABOK Guide)], version 3, page 402, section 10.31.3.11
• Why Prioritise Requirements – How to do it and Why it is Critical to Project Success – BusinessAnalystMentor.com, paragraph 1
• Why You Should Prioritize Requirements - ArgonDigital, paragraph 1
• What Is Requirements Prioritization? Definition & Examples - airfocus, paragraph 1
• Business analysts : How to prioritize requirements - Adaptive US, paragraph 1

A business case is a document that provides the rationale and justification for initiating a project or an investment. It describes the business problem or opportunity, the proposed solution, the expected benefits, costs, risks, and assumptions. A business case also includes an analysis of the alternatives and a recommendation for the best option. A business case helps management to make a go/no go decision based on the value proposition and the return on investment of the project. A business case is one of the key outputs of the enterprise analysis process, which involves defining the business need, assessing the capability gaps, determining the solution approach, defining the solution scope, and defining the business case1234. References: 1: BABOK Guide v3, section 3.4, pages 68-77 2: CBAP / CCBA Certified Business Analysis Study Guide, chapter 4, pages 107-108 3: Business Analysis Techniques: Developing the Business Case, pages 25-26 4: How to Write a Business Case: 4 Steps to a Perfect Business Case Template