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A performance assessment is a business analysis artifact that evaluates the effectiveness and efficiency of the business analysis work. It can be used to identify and document the improvement areas for the next piece of analysis work, as well as to measure the value delivered by the business analysis outcomes. A performance assessment can include metrics, indicators, targets, and feedback mechanisms that help the BA to monitor and improve the business analysis performance12. References:

• 1: BABOK Guide v3, Chapter 2: Business Analysis Planning and Monitoring, Section 2.5: Plan Business Analysis Performance Improvements
• 2: Tasks Mapped To Artifacts(https://www.modernanalyst.com/Resources/Articles/tabid/115/ID/5769/Tasks-Mapped-To-Artifacts.aspx)

 The organizational culture and type of information being approved are two factors that the BA should consider when defining the approval process. The organizational culture reflects the values, beliefs, and behaviors that guide the decision-making and actions of the stakeholders in the organization. The type of information being approved refers to the nature, scope, and impact of the information that requires approval from the relevant authorities. Both factors can influence the level of authority, responsibility, and accountability that are involved in the approval process, as well as the criteria, methods, and tools that are used to facilitate the approval process. The BA should align the approval process with the organizational culture and the type of information being approved to ensure that the process is effective, efficient, and consistent. References:

• Approval Process: Key Governance Procedure, Business Group on Health
• Developing an effective governance operating model, Deloitte
• What is a Governance Process?, WalkMe

 A purchase solution approach is one that involves acquiring a COTS software package from an external vendor or provider, rather than developing a custom solution in-house. A purchase solution approach can offer several benefits, such as faster delivery, lower cost, higher quality, and reduced risk. However, a purchase solution approach also has some drawbacks, such as limited customization, dependency on the vendor, compatibility issues, and licensing fees. A BA should evaluate the pros and cons of a purchase solution approach against the business needs and requirements, and compare it with other possible solution approaches, such as outsource, exploit, or create. References:

• Evaluating Candidate COTS Packages, ArgonDigital
• Seven Insights: Agile and Custom Off The Shelf (COTS) packaged software, Kenny & Company
• COTS Software Procurement Methodology, IGI Global

 The BA needs to compare the value and costs of different design options, such as a customized version of the existing software or a fully made to order solution. The potential value is the benefit that the solution will provide to the bank, such as improved efficiency, accuracy, and security. The design options are the alternative ways of meeting the needs and requirements of the bank, such as modifying the existing software or developing a new one. The BA needs to evaluate the trade-offs between the value and costs of each option and recommend the most feasible and desirable one. References:

• CBAP / CCBA Certified Business Analysis Study Guide, 2nd Edition, Chapter 6: Strategy Analysis, page 217
• Business Analysis Body of Knowledge (BABOK ®) Guide, Version 3, Section 6.4: Define Design Options, pages 142-144
• Certified Business Analysis Professional™ (CBAP®) | Coursera, Course 3: Strategy Analysis, Week 3: Define Design Options