
Contents
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15.1 Development Process Overview 15.1 Development Process Overview
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15.1.1 Initiation 15.1.1 Initiation
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15.1.2 Preparation 15.1.2 Preparation
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15.1.3 Construction 15.1.3 Construction
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15.1.4 Finalization 15.1.4 Finalization
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15.2 Initiation and ‘Project Charter’ 15.2 Initiation and ‘Project Charter’
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15.2.1 High-Level 15.2.1 High-Level
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15.2.1.1 Model register 15.2.1.1 Model register
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15.2.2 Making the Case 15.2.2 Making the Case
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15.2.2.1 Business Case 15.2.2.1 Business Case
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15.2.2.2 Scope 15.2.2.2 Scope
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15.2.2.3 Assessment Criteria 15.2.2.3 Assessment Criteria
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15.2.3 Stakeholders and Players 15.2.3 Stakeholders and Players
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15.2.3.1 Sponsor and Steering Committee 15.2.3.1 Sponsor and Steering Committee
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15.2.3.2 Project Manager (PM) 15.2.3.2 Project Manager (PM)
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15.2.3.3 Team Lead (TL) 15.2.3.3 Team Lead (TL)
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15.2.3.4 Team Members 15.2.3.4 Team Members
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15.2.4 Resources and Timetables 15.2.4 Resources and Timetables
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15.2.4.1 Resources 15.2.4.1 Resources
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15.2.4.2 Project Timetable 15.2.4.2 Project Timetable
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15.2.5 Assumptions, Risks and Constraints 15.2.5 Assumptions, Risks and Constraints
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15.2.5.1 Target Specification 15.2.5.1 Target Specification
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15.2.5.2 Model Form 15.2.5.2 Model Form
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15.2.5.3 Data Sources 15.2.5.3 Data Sources
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15.2.5.4 Environmental Instability 15.2.5.4 Environmental Instability
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15.3 Project Deliverables 15.3 Project Deliverables
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15.3.1 Communication and Documentation 15.3.1 Communication and Documentation
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15.3.2 Model Development Documentation (MDD) 15.3.2 Model Development Documentation (MDD)
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15.3.3 Implementation Instructions (MIID) 15.3.3 Implementation Instructions (MIID)
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15.3.4 Project Code 15.3.4 Project Code
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15.3.5 Data 15.3.5 Data
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15.4 Other Considerations 15.4 Other Considerations
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15.4.1 Scorecard Development Software 15.4.1 Scorecard Development Software
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15.4.1.1 Statistical Analysis System (SAS) 15.4.1.1 Statistical Analysis System (SAS)
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15.4.1.2 World Programming System (WPS) Analytics 15.4.1.2 World Programming System (WPS) Analytics
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15.4.1.3 Statistical Package for the Social Sciences (SPSS) 15.4.1.3 Statistical Package for the Social Sciences (SPSS)
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15.4.1.4 R 15.4.1.4 R
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15.4.1.5 Python 15.4.1.5 Python
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15.4.1.6 Other Proprietary Tools 15.4.1.6 Other Proprietary Tools
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15.4.2 Implementation 15.4.2 Implementation
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15.4.2.1 Decision-Making Stages 15.4.2.1 Decision-Making Stages
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15.4.2.2 Technology Options 15.4.2.2 Technology Options
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15.4.2.3 Vendors 15.4.2.3 Vendors
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15.4.3 Next Steps 15.4.3 Next Steps
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15.5 Summary 15.5 Summary
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Questions—Project Management Questions—Project Management
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Cite
Abstract
Model developments are projects (activities over a temporary period towards a specific end), where project-management frameworks are used. (1) Process overview—i) initiation—needs identification, start-up, ii) preparation—data identification, proposed definitions and sampling, iii) construction—from segmentation and inference to model training; iv) finalization—presentation, governance, monitoring. (2) Initiation and project charter—i) descriptors and model register; ii) business case, scope, and assessment criteria; iii) stakeholders and players; iv) resources and timetables; v) assumptions, risks and constraints. (3) Project deliverables—vary by project type {gap analysis, feasibility study, business case, system implementation}. For model developments it includes project communication and documentation, model development documentation, implementation instructions, project code and data used. (4) Other—i) proprietary versus open-source development software {Statistical Analysis System (SAS), worldwide payment system (WPS), savings, pensions share schemes (SPSS), R, Python}; ii) implementation infrastructure, technology choices; software and service vendors; iii) next steps.
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