Notes

If funding was an issue for the project, which three techniques would you use to ensure that you could meet the desired value with the resources you have and why?

If the funding was an issue for the project, we need to plan the allocation of funding and monitor the usage during the project using below techniques:

Estimation – it is used to forecast the cost to meet the requirements to achieve value of the project. Business analyst could estimate the cost of the project from each activity and aggregate for the total cost to be used. They could compare with the available budget and try to close the gap by revising the requirements and scope of the project.
Financial Analysis – it is used to evaluate the financial aspects of the project by analysing its initial cost, expected financial benefit and ongoing cost of the project. From financial analysis, business analyst could analyse the return on investment to understand if the benefit generated from the project is greater than the potential investment of the project.
Metrics and Key Performance Indicators – it is used to create and evaluate the measurements used in defining value of the project. During the project, business analyst could create metrics to monitor the progress of the project. For instance, assign cost of each activity to ensure the usage of the funding; and create the expected outcome of each activity to validate if it could bring it the expected value to the organization.