This document discusses the role of business analysis in modern project management. It defines business analysis as understanding an organization's structure, policies, and operations to recommend solutions that help achieve goals. The business analyst role has become more strategic and involves tasks like identifying opportunities, conducting feasibility studies, eliciting requirements, and ensuring requirements traceability. Both traditional "waterfall" and agile approaches are discussed. The key is choosing the right methodology based on a project's level of uncertainty, and using a hybrid approach if needed. The project management profession is changing with the rise of agile methods, requiring the blending of agile and traditional principles.