• Goal: Strategic Initiative of a program started by R&D to improve the overall quality of the portfolio management software by improving the processes, procedures, documents, and coding standards.
• Results: +80% of objectives implemented worldwide, more stable product.
• Major Risks: technological interdependencies, skill and resource gaps, time-to-market delays, low visibility of cost-benefits, product reputation, and higher total cost-of-ownership TCO during banks’ RTB.
• Risks Mitigation: mapping for technological interdependencies, upskilling and expert coaching for skill gaps, Agile methodologies for time-to-market, earned value management (EVM) for cost-benefit visibility, contingency plans and failure mode and effects analysis (FMEA) for ‘quick wins’.
• Budget: R&D, +1’800 man-day.
• Timeline: part-time activity for 2 years —
• Staff: 7 people: 3 software engineers, 1 project manager, 2 DevOps engineers, 1 technical writer.

More details about achieved goals

1 – Code Quality

• • Error Resolution and Developer Training: Accomplished the resolution of 4’900 compilation errors and 1’600 warnings in Windows C++ within the first two months of the program and upskilled developers in error fixing techniques.
  • Code Reviews for Stability: Instituted code reviews as a standard practice, significantly enhancing product stability.
  • Use of FlexeLint for Code Safety: Acquired FlexeLint tool (PC lint – static code analyser) for identifying unsafe C/C++ functions, integrated it into Microsoft Visual Studio and established a regimen of weekly code compilations.
  • Coding Standards in C++ and Java: Defined robust coding standards, covering aspects like rounding rules, division by zero, and the use of exceptions.
  • Code Modification Impact Analysis: Instituted a process to create test cases after any code modification to analyze the impact on the overall product.
  • Enhanced Log and Trace Information: Improved log and trace information by standardizing messages and adding error numbers and traces in multiple functions.

2 – Development & Testing Processes

• • Process and Procedures Update: Updated and comprehensively documented development process and procedures.
  • Enhanced Fix Delivery: Refined the fix delivery process through iterative coding sessions, content freeze milestones, master CD validation, and post-project reviews.
  • Development & Integration Environments: Established multiple development and integration environments to facilitate smoother workflow.
  • Source Code Reorganization: Undertook the physical reorganization of Triple’A C sources to enhance code maintainability.
  • Test Coverage and Stability Tests: Utilized PureCoverage tool for test coverage and conducted stability tests on the codebase.
  • Comprehensive Test Suite: Implemented a test suite during the development phase that includes benchmarks and non-regression tests.

3 – Documentation

• • Improved Templates and Forms: Streamlined and improved various forms and templates; combined small enhancement and development request forms into a unified “Development Request Form.”
  • Enhanced Release Notes: Refined Fix Release Notes to highlight critical information upfront and categorize incidents into bugs, improvements, and developments.
  • Technical Documentation: Developed comprehensive technical code documentation, utilizing tools like doxygen for automatic generation of C and Java code documentation. Unix and NT debug manuals, Telelogic CM Synergy and Microsoft Visual Studio user guides.
  • Known Bugs Publication: Regularly updated and published a list of known bugs for transparent communication within the team and external stakeholders.

4 – Communication & Collaboration

• • Quarterly Source Control Meetings: Instituted quarterly meetings to discuss issues related to source control (Telelogic CM Synergy).
  • Bug Tracker Transition: Transitioned from IBM Lotus Notes to Atlassian JIRA for more effective bug tracking – processes are still in place 20 years later with the FinTech market leader.

5 – Extensibility & Scalability

• • Product Extensions: Extended the enhancements and improvements to other products in the portfolio management software, ensuring scalability through modular design principles and well-defined APIs (Application Programming Interfaces).

Risks & difficulties

1 – Strategic Risks

• Misalignment with Business Objectives: The project doesn’t align with the organization’s overarching goals, making the investment inefficient.
  • Mitigation Strategy: Conducted a rigorous alignment check between project objectives and business goals during the planning phase.
• Opportunity Costs: Resources committed to this project can’t be used for other potentially more beneficial initiatives.
  • Mitigation Strategy: Utilized decision framework Weighted Scoring to evaluate the project against alternative investments.

2 – Operational Risks

• Technological Interdependencies: Changes in one software component may necessitate alterations in interconnected modules.
  • Mitigation Strategy: Defined a Dependency Mapping and architectural reviews to understand the ripple effects.
• Skill and Resource Gaps: The project team may lack essential skills or resources, leading to delays or suboptimal outcomes.
  • Mitigation Strategy: Upskilled existing team members and coached by software quality experts.

3 – Financial Risks

• Budget Overruns: The project exceeds its financial allocations due to unforeseen complexities or inefficiencies.
  • Mitigation Strategy: Adopted Earned Value Management (EVM) techniques (costs, scope, time) to monitor financial performance and make data-driven adjustments.
• Unplanned Contingencies: Emergent issues, such as new bugs or security loopholes, may require additional funding.
  • Mitigation Strategy: Allocated a contingency budget and employed proactive risk assessment tools like Failure Mode and Effects Analysis (FMEA).

4 – People Risks

• Change Resistance: Team members may resist new technologies or processes.
  • Mitigation Strategy: Engaged in proactive internal communications and utilized change management models to facilitate acceptance.
• Knowledge Attrition: Loss of key personnel leads to a vacuum in essential skills and institutional knowledge.
  • Mitigation Strategy: Implemented staff backups and knowledge transfer mechanisms.

5 – Delivery Time and Reputational Impact

• Time-to-Market: Delays in project completion lead to continuing bad software quality.
  • Mitigation Strategy: Applied Agile methodologies to enable quicker iterations and adapt to market changes.
• Brand Erosion: A failed or delayed quality project undermines brand value and erodes customer trust.
  • Mitigation Strategy: Maintain transparent communication with stakeholders and be prepared with a crisis communication plan.

6 – Governance and Continuous Monitoring

• Approach: Implement a Project Management Office (PMO) equipped with real-time dashboards to oversee KPIs and accountability mechanisms.
• Benefit: This allows for ongoing risk assessment and the agility to pivot strategies as required.