How does business analysis contribute to risk management?

Business analysis significantly contributes to risk management primarily through the identification and analysis of potential risks associated with business requirements. This process involves thoroughly examining the needs and specifications of stakeholders to uncover uncertainties that may impact project success.

By identifying risks early in the project lifecycle, business analysts can assess their potential impact on the overall project and help devise mitigation strategies. This proactive approach allows organizations to address risks before they escalate into larger issues, making it easier to achieve project objectives while staying within scope, time, and budget constraints.

The other choices do touch upon important elements of project management. However, they don’t specifically relate to the distinctive role that business analysis plays in managing risks. While project delivery, minimizing costs, and ensuring stakeholder satisfaction are desirable outcomes of effective project management, they do not inherently focus on the identification and analysis of risks as a primary function. Thus, the emphasis on risk-related activities aligns closely with the core responsibilities of a business analyst in the context of risk management.