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Technology in Investment Management > Chapter 9: Managing Business Change > Flashcards

Chapter 9: Managing Business Change Flashcards

1
Q

What is the SDLC?

A

Software development life cycle

This is a standardised process of developing information systems or apps through the completion of defined steps or phases.

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2
Q

There are 9

What are the Standardised SDLC Approaches?

A
  • Terms of Reference
  • Feasibility Study
  • Fact finding and recording
  • Analysis
  • Design
  • System Spec
  • Implementation and Review
  • Use
  • Close
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3
Q

How Does a Waterfall Model Work?

A

A model that cannot flow backwards and can only proceed to the next step when the prior one has been perfected. I.e. it flows back only to review and perfect.

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4
Q

How Does the Fountain Model Work?

A

Allows for phases of the lifecycle to occur simultaneously.

Must be perfected before moving on to ensure errors are not carried forward.

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5
Q

Drawbacks of Waterfall Methods?

A
  • Owners dont know what they want.
  • Difficulty estimating time and cost.
  • Assumptions that model can be translated into real products
  • Assumes division of labout, which isnt always the case.
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6
Q

What are Iterative/Incremental Models?

A

Scheduelin and staging a strategy in which the various parts of the system are developed. And thus intergrated when completed.

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7
Q

What is Prototyping?

A

Quickly putting together a working model in order to test various aspects of a design.

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8
Q

What is the Spiral Model?

A

Combines features of the prototyping model and waterfall model, of which is intended for large exepnsive and complicated products.

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9
Q

What is the Agile Model?

A

A model that minimises risk by deveoping a series of small packages of software in a short period of time.

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10
Q

What are the Critcisms of the Agile Model?

A
  • Lack of formal documentation.
  • The ultimate solution may drfit.
  • Face to fac comms for large projects is difficult.
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11
Q

crouch…..bind……set

Roles to do with Agile Methodologies?

A
  • Product owner
  • Scrum master
  • Team members
  • Stakeholders
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12
Q

What is JAD?

A

Joint application development

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13
Q

What is RAD? Proto….

A

Rapid application development

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14
Q

Eid is the End

What is EUD and its the 6 Conditions?

A

End User Development

  • May not be included in the BCP
  • May not be fully tested
  • May be forgotten about completely
  • May not be included in the change control procedures
  • May not be fully documented
  • May become unsupportable of the creator leaves the firm
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15
Q

What are the 2 PRINCE2 Examinations?

A
  • Foundation Exam
  • Practioner Exam
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16
Q

Which is the ISO for Project Management?

A

ISO 9000

17
Q

What is the PMI?

A

The Project Management Institute

Formed in 1999, 600,000 member in 214 countries.

18
Q

What is it Meant by a Firm Being ISO 9000-compliant?

A

It conforms to ISO 9001:2000

Which is the Quality of management systems.

19
Q

How are Problems Graded?

A

A B C D.

A being the most severe, and D being acceptable.

20
Q

What are the 8 Stages of Testing?

A

1) Unit Testing

2) Integration testing

3) Functional Testing (Any level)

4) System Testing (Integrated system)

5) Volume or Load Testing (breakpoint testing)

6) System Integration Testing

7) User Acceptance Testing (Alpha / Beta)

8) Penetration Testing

21
Q

What is Regression Testing?

A

re running previous tests on a new system to ensure that any bug fixes have not cause any new issues.

22
Q

What is White Box Testing?

A

Tester has access and can rewrite the code as he tests said programme.

23
Q

What is Grey Box Testing?

A

Combination of White and Black Box testing, where the tester knows some of the code and applies various scenarios to observe outputs.

24
Q

What is Smoke Testing?

A

Testing used to verify the build of a software, i.e. if anything smokes there is a problem.

25
Q

Stages of an AGILE Model? WWRRR

A
  • Write the Test
  • Write the Code
  • Run the Tests
  • Re-factor
  • Repeat
26
Q

What is the Handshake or Rattle Test?

A

Aims to prove the possibility to send and receive comms between two testing systems.

27
Q

What is ISO 9126?

A

International standard for the evaluation of software. Divided into 4 parts.

  • Quality model
  • External Metrics
  • Internal Metrics
  • Quality in use metrics
28
Q

What is Disruptive Innovation?

A

Is an innovation technology that improves a product or service in ways that the market does not expect, typically by lowering prices, designing for a different group of consumers or delivering it in a different way.

29
Q

What is Cloud Computing?

A

is the provision of technology resources on demand via a network.

30
Q

Variations of the Cloud Models?

Madness & Badness……IPS as a service

A
  • Infrastructure as a Service
  • Platform as a Service
  • Software as a Service (Combination)
31
Q

Main Reason for Financial Service Firms for Using Cloud Technology?

A

Reduce Costs

Reduce management personnel

Simpler BRP

More efficient with customers

32
Q

What is the Main Concern for Cloud Technology In Financial Services?

A

Uncertainty of data related issues and other problems related.

33
Q

How many Trades Take Place NYSE per Second Discretely?

A

33,000

34
Q

Are Cryptocurrencies Decentralised?

A

Yes

35
Q

What Systems of AI Currently Exist?

A
  • Speech Recognition
  • Advanced Search techniques
  • Vision System Analysis
  • Handwriting Recognition
  • Advanced game playing
  • Robotics
  • Expert Systems
36
Q

How is AI Used in AWM?

A

Develops complex systems for HFT.

Detect fraud and criminal activities.

Engineer client websites

37
Q

What is a DLT?

A

Distributed ledger technology, is a database that is shared and synchronised across multiple sites, firms or geographies.

38
Q

Implications of Machine Learning for AWM?

A
  • Algorithmic Trading
  • Portfolio Management
  • Selling of Financial Products
  • Marketing and customer services
  • Fraud Management

Technology in Investment Management (9 decks)

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