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RGMacEsq, Attorney
Category: Business Law
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Experience:  Licensed Texas General Practice Attorney
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What is a gap analysis document

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What is a gap analysis document?
Submitted: 6 years ago.
Category: Business Law
Expert:  RGMacEsq replied 6 years ago.
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software project

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Expert:  RGMacEsq replied 6 years ago.
gap analysis is a tool that helps a company to compare its actual performance with its potential performance. At its core are two questions: "Where are we?" and "Where do we want to be?" If a company or organization is not making the best use of its current resources or is forgoing investment in capital or technology, then it may be producing or performing at a level below its potential. This concept is similar to the base case of being below one's production possibilities frontier. The goal of gap analysis is to identify the gap between the optimized allocation and integration of the inputs, and the current level of allocation. This helps provide the company with insight into areas which could be improved. The gap analysis process involves determining, documenting and approving the variance between business requirements and current capabilities. Gap analysis naturally flows from benchmarking and other assessments. Once the general expectation of performance in the industry is understood, it is possible to compare that expectation with the company's current level of performance. This comparison becomes the gap analysis. Such analysis can be performed at the strategic or operational level of an organization.

So, basically put, a gap analysis is when a company looks at where they are and where they want to be (the gap) and determines how they get to where they want to be.
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