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Selection of an Appropriate Project Approach

1. A construction company has a long history of implementing computerized information systems to support the work of its branches. It uses a proprietary method for analyzing and designing structured systems. It was decided to create a computer model of the real estate market. This would, for example, attempt to calculate the effect of changes in interest rates on house values. There is concern that the usual methodology used for IS development is not appropriate for the new project.

(a) Why might there be this concern and what alternative approaches should be considered?

With traditional business systems analysis, there is usually an existing office procedure that managers hope to streamline in some way. There are people who understand the details of the work currently being done. They can help the analyst formulate specific requirements to be met. There is, in short, a well-defined clerical equivalent of the application to be built.

With a computer model of the real estate market, there is probably no equivalent of a well-defined clerical model. Analysts will therefore need to seek ideas on how such a model works from a variety of sources. Experts, such as experienced real estate agents, may be able to provide insight, but these are likely sketchy rules of thumb. Academic literature on economic modeling could be studied. In the end, analysts will probably have to resort to building a prototype of the model. They will then try it to see if it behaves similarly to the real estate market. It is always possible that the real estate market behaves in ways that are too complex and inconsistent for a computer model to accurately imitate.

All of this suggests that the “traditional” approach to IS development based on a waterfall framework would be inadequate. A more iterative prototyping approach makes sense.

(b) Describe a plan for the development of the system that illustrates the application of your preferred methodology for this project.

  • Define the objectives: what does the management of the organization expect from the model?
  • Study existing software solutions and literature on the subject. Has anyone done this before?
  • Consult specialists. Joint Application Development (JAD) sessions are mentioned in the text as a possible approach. There are many other techniques for obtaining relevant knowledge from domain experts that should be considered.
  • Based on the above, establish an initial design of the prototype.
  • Build a prototype.
  • Test it, probably using real data from the recent past; you can compare the model results with what actually happened.
  • Analyze the causes of discrepancies; modify the model and relaunch.
  • Stop this cycle when you are running out of time or not seeing significant improvements.
  • Perform a general validation of the accuracy of the model, its ease of use.

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