Certified Business Analysis Professional (CBAP) — Question 259

A business analyst (BA) at a regional bank has recently been assigned to assist on a project to expand into new markets. The chief executive officer (CEO) envisions the bank as a national brand and has asked the chief financial officer (CFO) to monitor project progress closely. The project manager (PM) has asked the BAs on the team to recommend an appropriate business analysis approach.
Based on the nature of the project and the industry, which approach should they recommend?

Answer options

• A. An unstructured approach utilizing informal team interaction, model-driven documentation standards, and iterative requirements development
• B. An agile approach with frequent team interaction, adaptive documentation standards, and iterative requirements development
• C. A moderate approach utilizing the bank's existing waterfall project lifecycle and documentation deliverables not requiring formal approval
• D. A formal approach with planned team interaction, agreed upon documentation deliverables requiring formal approval, and front-loaded requirements development

Correct answer: B

Explanation

The agile approach (B) is the most suitable for a project aimed at rapid market expansion, allowing for flexibility and frequent adjustments through iterative development and team interactions. The other options, while viable, are either too rigid (A and D) or not adequately aligned with the need for adaptability in a dynamic market (C).