ST🚫P confusing agile software development methodology with business agility.

✨Business agility is the ability of an organization to sense environmental change and respond efficiently and effectively to that change. In particular, in industries such as #banking, #insurance #financialservices, these changes are derived from regulations, laws, and policy changes, as well as the competitive marketplace where the organization is operating.

Historically, agile software development has helped organizations with better transparency and iterative development and reduces risks by continuously validating assumptions. In comparison with other SDLCs, agile provides massive improvements where organizations used to invest so much time in upfront analysis and design for the projects that they could have avoided.

🧑‍💻An agile software development process might be suitable for LOB applications such as inventory management, CRM, Accounting, or any other projects for which the requirement is more known, clear, and less rigid. When it comes to decision-making in operations and SMEs projects, the requirements are not as clear and structured. This is the trouble as these teams demand agility, which I mean ➡️business agility.

This is where agile software development process falls into the cracks.

Why is that? Daily decisions that happen in operation and SME teams, such as compliance, audit, credit risk, loan origination, line of credit, and so on, are very critical and highly dynamic in nature, yet ALL driven by regulations. Things change often, like business rules and regulations, so it will put a lot of pressure on development. Customers' needs and the economy will demand the introduction of new financial products regularly that must comply with regulations, policies, and internal corporate strategies.

🤑There is nothing wrong with applying agile software development methodology with these projects, but the issue is it WILL be very, very expensive and time-consuming. Even worse, it WILL become a catch-up game.

What is the alternative approach? Separating the life-cycle of moving components that depend on external sources of change such as regulations, laws, internal corporate strategies, and policies.

🚀By separating the life-cycle of these moving parts from the business process and application, the process and application code do not need to change. Additionally, business and operation groups can understand and manage of them with an open standard and vendor-natural decision model — Decision Model and Notation (DMN) — that becomes the live specification of regulations and policies with DMN Conformance Level 3.

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Published October 28th, 2024 at 07:30 am