Gap Analysis is a technique that clearly defines states the difference between the current state and the proposed state / future state of any business entity to streamline its functionalities. In other words, a technique that businesses need to determine what is the course of action to be taken to move from the current or existing stage to the desired state or future state. This can be also called as Need Gap Analysis or Need Analysis or Need Assessment. This is the technique will be used at Enterprise Analysis being done by the top business managers before taking / accepting new assignments or projects.
In Gap Analysis approach, certain parameters need to assess to jump to a conclusion.
1. Listing out the key factors – Attributes, Competencies, Performance levels etc of the present situation.
2. Listing out factors which need to achieve future objectives.
3. Highlighting the identified gaps which need to be plugged.
With this exercise, Gap analysis forces companies to act upon to handle the future shocks with care and responsibility. That is the reason Gap Analysis is one of the best approaches to streamline organisations to think about improvement and enhancements of their processes. Organisation need to acknowledge and approve the gaps being identified and act upon in the larger interest of an organisation to address future needs and current competencies.
So, Gap Analysis helps organisations in getting comprehensive outlook of an entire organization or respective function or process within the organization and to assess and reassure the current available resources which are apt to meet the future expectations, this result in the decreased project cost, and strict timelines on the other hand. On the whole, Gap Analysis is an esteemed and most acceptable approach which need to be followed by organizations at all levels of hierarchy to get help in allocation of resources efficiently, crisp planning the budgets and effective prioritizing the needs and requirements.