What Does the FFIEC Say About New Technology Projects?

“Planning without action is futile, action without planning is fatal.” – Anonymous.

by Robin Remines

Fatal – sounds harsh

you say? Considering today’s complex I.T.  infrastructures I think you’d agree that simply throwing something into your data center without a well-developed project plan not only lacks the type of due diligence expected of your members but also borders on negligence. If you don’t agree, then this post probably isn’t for you. If

however you understand the criticality of strong project skills and want to know how to strengthen your methods, the FFIEC Development and Acquisition booklet describes common project management activities and emphasizes the benefits of using well-structured project management techniques.  The good news is it doesn’t have to be rocket science!

OGO INTEL (Our experts weigh in!)

  • The FFIEC defines development and acquisition as “an organization’s ability to identify, acquire, install, and maintain appropriate information technology systems. The process includes the internal development of software applications or systems and the purchase of hardware, software, or services from third parties.” Notice the “AND” in that sentence. Regardless of whether you have a large development team or you rely on 3rd party vendors, the responsibility for mitigating the risks of a particular implementation remains on you!


  • All projects consist of three things – specifications, time and resources (time, money, etc.).  If you don’t have a PMP or otherwise trained project manager on staff, take the time to review the project plan components and build each section into your plan.
continue reading »