Looking for a career that sounds ‘perfect’?
For being a perfect employee, some skills required are the ability to multitask, embracing new and complex issues, and updating skills to meet the changing times.
Which profession matches this skill set?
Yes, you guessed it right!
Business Analyst as well as Project managers.
These skills are a necessity for both of these professions.
The interesting thing is that both job positions are highly in-demand across all industries including sectors like healthcare, finance, entertainment, retail, eCommerce, logistics, and many more.
Every business needs to research for better revenue models and that the business strategies are working efficiently, and the business model is optimal. Who do you think is responsible for these tasks?
A Business Analyst.
Embed Youtube Video URL here: https://www.youtube.com/embed/-psusaPKLg0
This is why Business Analyst Certificate Courses are the most searched for, that enable you to become a high-profile BA.
The different goals of a business are grouped into various projects. Those projects are carried out by different teams and the goals are met accordingly. Who is the one responsible for managing those projects?
A Project Manager.
As a Project Manager, you have to be open to learning new techniques to cope up with new challenges coming during the execution of a project.
Let us look at a brief overview of both job roles and the primary differences between them.
Who is a Business Analyst?
A Business Analyst is a professional who evaluates a business model and its integration with technology, all this by analyzing and archiving business processes and systems. A Business Analyst serves companies in attaining high market productivity.
Who is a Project Manager?
A Project Manager typically manages a project from start to finish. A PM is responsible for executing the project and managing constraints including scope, cost, quality, and time. You have to play the role of a client representative and assist in defining the project so that it meets the requirements of clients.
Business Analyst Vs Project Manager: Job Role
Comparison of Job Role in a Project
The steps involved in a project are Initiate, Plan, Execute, Control, and the Final Phase. We will discuss the job roles of both the jobs in all these steps.
In this step, a Business Analyst interacts with stakeholders and identifies their top-priority demands. On the other hand, a Project manager emphasizes budget and timeline. So, as a Project Manager, you have to collect all the information regarding the available budget and time so that you can plan the resources and chalk down the work schedule for team members accordingly.
This is the second phase of the project. Here, a business analyst has to make a detailed approach to the business requirements. You have to break down the processes into chunks and distribute them among developers. However, a Project Manager makes the schedule for developers and stakeholders to interact and work on risk management in order to prevent the upcoming risks in the project. Here, both a BA and a PM work on the ideas and views together and then implement the plan of the project.
In this step, a BA has to evaluate the project by using test cases. Meanwhile, a PM is busy monitoring the project in this step. Both BA and PM ensure that the job is done on time without any errors.
This phase involves reviewing the final results. A PM allots the test cases and completes the project to pass it to a BA for final review. So, a BA reviews the test results to find out errors, if any. Also, you have to suggest solutions for improving the project.
Embed Youtube Video URL here: https://www.youtube.com/embed/KG5cltHpbYs
This is the last phase of the project where a BA makes the documentation and last product review of the project and passes it to the PM. A PM then stores everything, creates a backup and deals with the bills.
Business Analyst vs Project Manager: Skills Required
Since both professionals are tasked with different responsibilities, there are different skills required for both of them.
A Business Analyst has to be proficient in stakeholder analysis skills, statistics, data review, data visualization, and expertise in popular Business Analysis tools including Nifty, Adobe Acrobat, Databox, etc. Typically, a Business Analyst has to coordinate and communicate with stakeholders, making stakeholder analysis skills crucially required. Probability and statistics are required for a better understanding of analysis processes. A Business Analyst is also expected to possess excellent data visualization and data reviewing skills.
On the contrary, some of the crucial skills required for a project Manager are Project Management, initiation, project planning, risk analysis and mitigation, and expertise in using popular Project Management tools including Hive, Wrike, monday.com, ClickUp, etc. In the complete project cycle, a PM emphasizes project management, so it is crucial to know how to plan and execute a project. You should also know how to manage risks in a project.
Business Analyst Vs Project Manager: Career Scope
The scope of both Business Analyst and Project Managers, both are huge. In India, for Business Analysts, there are more than 11542 jobs available on naukri.com and more than 13000 jobs on LinkedIn.
While there are 36484 jobs available for Project Managers on naukri.com, and more than 38,000 on LinkedIn.
Business Analyst Vs Project Manager: Salary
In India, the average annual salary of a Business Analyst is around INR 607,006; while that of a Project Manager is around INR 1,50,000.
The salaries may vary with location, project, industry, experience, skills, and other such factors.
You are now aware of the basic differences between a Business Analyst and a Project Manager. Both of them are concerned with meeting the requirements of clients along with fixing the problems in the project. A Business Analyst deals with the final product, analyze market trends, and suggests a technical solution. On the other hand, a Project Manager focuses on the project as a sequence of steps, creates baselines, communicates with the development team, along with addressing project issues.
You can make a career in any of them because both of them offer lucrative careers and guaranteed growth. There are many resources that provide online trouble-free training and certification.