There are always several factors which decide about success and failure of an IT-project. Our experience coming from classic and agile managed projects indicate that mainly high level and incomplete requirement specifications as well as unstructured implementation are the main reasons for failure.
It is not sufficient to only receive the requirements from the stakeholders. Moreover, there is an urgent necessity to setup an active and continuous management of the requirements. This management task involves:
The requirement management should be an integral component of every project, no matter which project management approach is chosen.
We gladly advise you concerning the set up and optimization of your requirement management as well as requirement engineering and documentation for new processes and IT systems.
Firstwaters supports the Treasury department of a German Landesbank in the development of a tool-supported requirements management approach for the newly developed reporting architecture for the measurement of interest rates and liquidity risk consisting of several supplier systems, complex individual components and various stakeholders. In a first step Firstwaters defined the requirements management process and then implemented it in the JIRA standard software from the vendor Atlassian. The project ended successfully with the presentation of the new processes to the affected stakeholders and the acceptance it achieved.
We advised a central umbrella organization of a German financial group on the analysis of regulatory requirements according to SFTR. This contains the coordination of the impacts of SFTR on the business model and the systems/reporting processes of the affiliated Landesbanks and credit institutions. We support our client in the preparation and implementation of a beauty contest with selected transaction registers DTCC and Regis-TR. The documentation of the required activities and recommendations for the banks involved and the coordination of the functional and non-functional requirements with the central IT service provider of the group are further fields of activity for Firstwaters.