Technology in Investment - Chapter 9 Flashcards
What is chapter 9
Managing business change
Which persons should be appointed as the senor responsible owner (SRO)
A senior executive
What other name may the Senior Responsible Owner be given
Project sponsor
What is the SRO responsible for?
Ensuring a project of change meets its objectives and projections
What is a software development lifecycle (SDLC)
A standardised process of developing information systems or applications through the completion of defined steps or phases
What does the SDLC Recognize (3)
Further the project is from completion, the greater the risk
Costs are lower at the beginning of the project
Changes are easier to make at the start of a project
Standardized SDLC approaches - What is Terms of reference
The management decides what capabilities and objectives it wishes the new system to incorporate.
Standardized SDLC approaches - What is Feasibility Study
This asks whether the concept of the new system is actually feasible to build & develop
What is a waterfall model?
The process of dividing the process into a number of phases. The first of which is requirements gathering.
What is the fountain model
Some phases of development overlap during the development process
What are the 4 requirements of the requirements gathering stage that must be met for the waterfall model to enter the second stage.
The requirements have:
- Gathered from users
- Fully understood by designers
- Fully documented buy the design team
- Signed of by the users
What happens when there is an issue in a phases in the Waterfall model
The solution is returned to the previous phase and the rework occurs before the next phase re-continues
What are the four drawbacks to the waterfall method
Customers may change their requirements
Estimating timing and costs is difficult
Paper to model is hard
Division of labor is not always easy or feasible
What is the iterative/incremental model
Various parts of the system are developed at different times or rates, and are integrated as they are completed
What is the agile model?
Minimizing risk by developing lots of small packages of software in short amounts of time
What is prototyping
Putting together a prototype to rigorously test and develop using customer feedback
What is the spiral model
Meant for larger & expensive projects. 4 prototypes and then an operational prototype is created
What are the three drawbacks to the agile model
Lack of formal documentation
The solution may ‘Drift’ from the optimal solution
Face-to-Face communication can be difficult to implement on large projects
Agile software development is not usually recommended for what kind of projects…
Large scale
Inexperienced developers
Geographically dispersed teams
Mission critical systems
Time critical developments
For agile methodologies, what is the product (Or system) owner ?
Most senior role in he group and is responsible for representing the stakeholders
For agile methodologies, what is the scrum master (Or team lead) ?
Project manager esk
For agile methodologies, what is the Team members ?
Leg workers. Analysts/developers/testers
For agile methodologies, what is the Stakeholders ?
Users/customers of the products. Also the regulators.
What is Rapid Application Development? (RAD)
A prototype is quickly constructed that looks like the end product
What is User End Development?
Set of activities that allows individual, who are non-professional, developers to make their own changes to the system.
What is Synchronize and Stabilize
An SDLC which teams work in parallel on a individual application module
What does good PRINCE 2 Practice encourage?
Controlled start, middle & end
Regular progress reviews
Built in decision points
Management of deviation from plan
Good communication between stakeholdes
What is a temporary and one-time endeavor
Undertaken to create a unique product or service, which brings about beneficial change or added value
What is a set of inter-related and controlled activities?
Have start and finish dates and have a unique objective to conform specific requirements
What is appointed during PRINE 2 during the stage of, Setting up a project (SU)
A project brief
What does the Planning (PL) stage of PRINCE 2 advocate?
Product based planning
What other key process happens during the PRINCE 2 setting up of a project stage (SU)
The project board, sponsor and manager are appointed
What document does the Initiating a project (IP) stage of PRINCE 2 produce from the project brief?
The business case
What does the Directing a Project (DP) stage of PRINCE 2 do?
How the project board should manage the sub-processes and provide ad hoc direction on how the project should be closed down
What does the Managing Product Delivery (MP) of PRINCE 2 do?
The way the work package should be accepted, executed and delivered
What does the Controlling a Stage (CS) of PRINCE 2 do?
Controls the sub-processes of the project
What does the Managing stage boundaries (SB) of PRINCE 2 do?
If a stage goes outside of tolerance levels, how it is reported and how the plan, risk log and business case and amended..
How many PRINCE 2 qualifications are there?
2
What is the foundation examination for PRINCE 2?
That the principles and terminology have been understood. (Theory test effectively)
What does the Closing a Project (CP) of PRINCE 2 do?
Covers the end of the project and the post evaluation and re-allocation of resources
What is the practitioner examination for PRINCE 2
Can apply PRINCE 2 theory whilst managing a project (Practical test effectively)
What is the Project Management Institute (PMI)
Formed in 1999 and a global body for Project Management with over 600,000 members in 214 countries
How is the PMBOK divided?
Into two parts:
Project Initiation & Exam Essentials
What is the PMBOK Guide
a standard and guideline handbook for project management
The guide recognizes 44 process that fall into 5 categories, what are they?
- initiating
- planning
- executing
- controlling and monitoring, and
- closing.
What is the International Organization for Standardization (ISO)
ISO’s purpose is to facilitate international trade by providing a single set of standards that people everywhere can recognise and respect
What is ISO 9000:2000
Quality Management systems - Fundamentals and vocabulary
What is ISO 9001
Quality management systems – requirements
What is ISO 9004
Quality management systems – guidelines for performance improvements
What are the three audit processes typically addressed through ISO standards
- Tell me what you do
- Show me where it says that
- Prove the results
Software defects are graded A-D, which is the most serious A or D?
A
What is the the meaning of a Grade A software defect?
Serious issue. No workarounds for the users
What is the the meaning of a Grade B software defect?
Important part is not working but the users can use the data in another way
What is the the meaning of a Grade C software defect?
Minor part is not working but the users can use the data in another way
What is the the meaning of a Grade D software defect?
Cosmetic error - A spelling mistake or UI error
What is unit testing?
Each unit is tested in isolation
What is intergration testing
Software cmponents are intergrated and testsed unti the system works
What is functional testing
Tests at any level to ensure the functionality is working
What is system testing
Tests a completely integrated system to verify that it meets its requirements.
What is volume/load testing
Tests software for a certain data volume
What is breakpoint testing?
Adding data until the system breaks
What is system integration testing
Verifies that a system is integrated to any external or third party systems defined in requirements
UAT - What is Alpha testing
Testing done by users inside the developers sit e
UAT - What is Beta testing
Comes after alpha testing and sent to testers outside of the organization.
What is regression testing
Testing against existing functionality in the system
What is code walkthrough?
A manual testing technique where program logic is traced using a small set of test cases
What is White box testing
The tester has access to the source code and can write specific code to the area of change
What is Black box testing
Only tests the system through the eyes of a user. I.e what they can see
What is Grey box testing
Combination of black and white testing. The tester does know the functionality and the code but does test in small test cases
Why is grey box testing different to black box testing?
Because the tester during grey box testing is understanding of the source code and the functionality being tested
What is Smoke, Sanity and Skim testing?
Examination of all basic components of a system
What is agile testing
Tests are written before the code is deployed
What is the handshake/rattle test
Proves that is possible to send and receive communications between two systems
What is disruptive innovation
When technology improves a product the market does not expect.
Like the low-cost motor vechile by ford or
The first PC by apple
Cloud computing - What is Software as a service (Saas)
IAAS + PAAS + All the application sofware
Cloud computing - What is Infrastructure as a service (Iaas)
Basic infrastructure like network, servers, storage & processing power
Cloud computing - What is Platform as a service (Paas)
IAAS + Operating system, security & backups
What is Vision systems analysis (AI)
computers are developed to understand and make sense of their surrounding environment(s) and then act based on a set of preprogrammed rules, eg, spy planes working autonomously to search for predefined structures (such as missiles),
What is Machine Learning (ML)
Machine learning is a discipline of AI that allows technology systems to automatically learn and improve from experience
(a) Without being explicitly programmed programmed and
(b) With minimal human interaction.
What is open finance (
Open finance is the term employed to describe the extension of open banking data-sharing principles to enable organisations to access customer data across a range of financial sectors (including savings and investments).
How is AI used in Asset Management
In high frequency trading (HFT)
What is distributed ledger
a database that is shared and synchronised across multiple sites, firms or geographies
