Capital Market Project

Abstract

This paper is willing to define the maturity model and to describe what are the main applications than can be used at the level of organizations. As well as to present the types of the maturity models

Introduction

Nowadays the common and the most important factor for companies is "business processes". The term “business process” represents a set of related activities performed to produce a product or service. It describe which activities are performed in the course of a process, which organizational units participate in process execution, what input and output data are used, what IT systems are involved, and which events and risks occur during process execution.

Furthermore it exists in any type of company, independent of size or industry. Internal and cross-company processes are the nerve tracts of any given company. (Aris Community)

Business processes in order the least complex to the most complex need to be identified effectively and be managed as an integrated. The integration can be reached by using information technologies. ( Goksena , Cevikb , Avunduk; 2014)

The successful improvement of the company’s positioning due to its IT capabilities and the quality of its goods and services. But of course it is a difficult task to achieve an objective assessment of a company’s position.(Becker and Knackstedt; 2009:213).

All the processes of companies are managed regarding the IT and developing the ability to use information, and skill over time. In the interest of that, an institutional "maturity" is considered. Each institution's maturity level is measured with different "maturity models".

Maturity Model

Literature review

It has been said that people, organizations, processes, evolve through a process of development in the direction of a more advanced maturity, going through a distinct number of levels, and the maturity model is based on this premise. It can be planned and implemented an evolution to a higher maturity level raised from a base that represents a level in this model. (Santos ET all; 2011:600).

Another way to present the precedent definition is by saying that the maturity model represents a framework that the companies use it as a benchmark for comparison when looking at the organization’s processes, as well as when evaluating the capability to implement data management strategies, and the level at which that company could be at risk from estimated strategies.

Furthermore this model is used, within a data governance audit, to map the level at which an organization is at in regards to its existing data management processes and procedures. If the maturity level of an organization is higher considering this benchmark, then the risks associated with poor data management practices tend to decrease.

The maturity model is formed as a structured collection of elements based on maturity within an organization. It can provide, for example the benefit of a community's prior data management experiences, a shared vision, a common language and a framework for prioritizing actions. (Experian Data Quality)

History

The Software Engineering Institute (SEITM), in August 1986, at Carnegie Mellon University, with assistance from the MITRE Corporation, began developing a process maturity framework that would help organizations improve their software processes (Humphrey 2002).

The SEI released in September 1987, a brief description of the process maturity framework which was later expanded in Watts Humphrey’s book, managing the Software Process. (Humphrey, 1987; Paulk et all, 1993)

The SEI formalized the concepts as the Capability Maturity Model for Software (Software CMM) based on experience in using the software process maturity framework and the maturity questionnaire for diagnosing problems and improving processes,. (Paulk et all, 1993:18).

The Software CMM had an important impact on the software community. It is said that billions of dollars were spent on CMM-based improvement (Emam and Goldenson 1999). Furthermore a lot of case studies and research reports have been published on its impact on productivity, cycle time, and quality (Krasner 2001; Clark 2000; Harter, Krishnan, and Slaughter 2000), and its maturity levels have been embedded in parametric cost models (Boehm 2000).

Capability Maturity Model

Capability Maturity Model (CMM) refers to a process improvement approach that is based on a process model. It is also a way to develop and refine an organization's processes. The first CMM like has been said previously, was for the purpose of developing and refining software development processes.

The maturity model is a collection of elements that describe characteristics of effective processes such as: a place to start, the benefit of a community’s prior experiences, a common language and a shared vision, a framework for prioritizing actions and a way to define what improvement means for your organization.

The maturity levels describe clear improvement priorities, guidance for selecting those few activities that will be the most helpful if implemented immediately. “This is important because most software organizations can only focus on a few process improvement activities at a time.” (Mark C. Paulk, 2013)

Most of the companies have made the mistake of identifying too many of needed improvements, then failing to act on any of them because they were overwhelmed by the size and complexity of the need. The article wrote by Humphrey in 2002 explained that the maturity framework was an identification of the “vital few” issues at each maturity level that need to be attemted first.

Challenged projects had many similarities in their underlying problems and that why attacking common problems in an important manner was considered to be an effective way of building organizational capability, although it was recognized that special projects would have unique issues that would also have to be addressed as part of an improvement program.

The model identifies five levels of process maturity for an organization. (Herbsleb et all, 1997:32)

1-“Initial” presents the software process which is characterized as “ad hoc”, and occasionally even chaotic. Few processes are defined, and success depends on individual effort and heroics.

2- “Repeatable” describes basic project management processes that are established to track cost, schedule, and functionality. The necessary process discipline is in place to repeat earlier successes on projects with similar applications.

Project Management Processes : Requirements management, Software Project planning, Software tracking and oversight, Software quality assurance Software configuration management.

3-“Defined” emphasizes the software processes for both management and engineering activities which are documented, standardized and integrated into a standard software processes for developing and maintaining software.

Engineering processes and organizational support: Organization process focus, Organization process definition, Training program, Integrated software management, Software product engineering, Intergroup coordination, Peer views.

4-“Managed” show how detailed measures of the software process and product quality are collected. Both the software process and products are quantitatively understood and controlled.

Product and process quality: Quantitative process management, Software quality management.

5- “Optimizing” presents the continuous process improvement which is facilitated by quantitative feedback from the process and from piloting innovative ideas and technologies.

Continuous process improvement: Defect prevention, Technology change management, Process change management.

References

( Goksena , Cevikb , Avunduk, 2014)

https://www.edq.com/uk/ Experian data quality