Presentation on theme: "The Business Of Working With IT Moderator: Rick Treese, Advanstar Panel: Thomas Falconer, Source Media Ken Hoffman, Standard & Poors Investment Services."— Presentation transcript:
The Business Of Working With IT Moderator: Rick Treese, Advanstar Panel: Thomas Falconer, Source Media Ken Hoffman, Standard & Poors Investment Services Ben Telling, Hanley Wood Technology Group
10 Working with IT Business Essentials Common development/IT issues Problem: Constantly and consistently over-scheduled and under-staffed Mitigation: Be completely clear, concise, focused, detailed with your business plans, your vision, and your requirements Problem: Fiefdom and attitude issues We dont do that That will have to go into the pipeline just like everything else. Mitigation: Engage, discuss, talk shop rather than pull rank and talk priorities. Have at least a basic understanding of: API CMS UGC Open source SQL Problem: Ownership, final decisions Mitigation: Very clearly articulated and widely known direction from senior management about who owns what decisions
11 Working with IT Business Essentials Common development/IT issues Problem: IT/Development budget constraints Mitigation: Evaluate open source options if possible (CMS;forums;blog tools, etc) Drupal is free: off-the-shelf CMS can cost upwards of $300K Problem: IT/development must-haves, such as source control, platform requirements, such as Unix vs Windows, PHP vs.Net, etc Mitigation: Understand the realm of possibility within your organization, and imagine what you want and need within the realm of possibility Engage with CTO Form alliances on the development team Be flexible
12 Working with IT Business Essentials Emerging media immersion Live on the web Know about, even marginally, new development technologies like ruby on rails, drupal, as well as.net, sql, others Shop online, a lot (zappos.com) Sign up for a regular podcast; visit secondlife; read blogs Subscribe to paid content sites Read pure web media; salon, gawker Participate in social media Facebook, myspace, LinkedIn
13 Working with IT Business Essentials Business requirements drive development Business analyst who works for the business lead Based on clearly articulated vision and business plan Designer who articulates the vision, reports to the business lead User Centric Focus Use any available metrics to make decisions Get a business/metrics analyst to dig through the log files Use referrer urls, onsite search terms and content popularity to drive content and application decisions
14 Communicating with IT Take Aways Ensure IT knows the business reasons for initiatives Make sure developers have the business product big picture Collaboratively build clearly documented technology functionality requirements Ensure product scope, dates and deliverables are documented and agreed Put in place regular project meetings to ensure progress is communicated and problems identified early and addressed Let performance, user response and feedback guide development through feedback and close attention to metrics.
15 Communicating with IT Take Aways Perhaps some recommended activities Work on the Web Use wikis for internal knowledge sharing Try blogging to understand tool use Perhaps some recommended reading Social Life of Information, John Seely Brown http://www.sociallifeofinformation.com Wikinomics http://www.wikinomics.com/http://www.wikinomics.com/ Dan Tapscott Wealth of Networks, Yochai Benkler http://www.benkler.org/wealth_of_networks/index.php/Main_Page#Read_the _book http://www.benkler.org/wealth_of_networks/index.php/Main_Page#Read_the _book Eric Von Hippell Democratizing Innovation http://web.mit.edu/evhippel/www/democ1.htm http://web.mit.edu/evhippel/www/democ1.htm
Permission to reprint or distribute any content from this presentation requires the prior written approval of Standard & Poors. Copyright (c) 2006 Standard & Poors, a division of The McGraw-Hill Companies, Inc. All rights reserved. Presentation for American Business Media The Business of Working with IT Ken Hoffman Senior Director, New Product Development Standard & Poors March 29, 2007
17. Permission to reprint or distribute any content from this presentation requires the prior written approval of Standard & Poors. About Standard & Poors Around the world, the search for financial insight independent, objective viewpoints and opinions that reflect rigorous analysishas one common starting point… Ratings Indices Equity Research Investment Advisory Services Data Services Risk Solutions Standard & Poors
18. Permission to reprint or distribute any content from this presentation requires the prior written approval of Standard & Poors. About Me At Standard & Poors for more than 12 years. Held product management positions in many areas within the company. Affected more than $250 million of information products launched into the debt and equity marketplace. Currently leading the Platform Management & Development team for the Equity Research Services business unit of Standard & Poors.
19. Permission to reprint or distribute any content from this presentation requires the prior written approval of Standard & Poors. Product Development at Standard & Poors We create products for participants in the financial markets from the intellectual property of our analytical and editorial staff Financial Advisors Consultants Asset Managers Pension Funds Hedge Funds Issuers Investors Credit Analysts Portfolio Managers Corporations
20. Permission to reprint or distribute any content from this presentation requires the prior written approval of Standard & Poors. Past Product Development Experiences A Familiar Approach? Requirements Gathering Specifications IT Review DevelopmentLaunch Spec Changes New Specs New Requirements Spec Changes Product ManagementBusiness AnalysisGroupITGroup
21. Permission to reprint or distribute any content from this presentation requires the prior written approval of Standard & Poors. Past Product Development Pitfalls Large volumes of specifications…often misinterpreted Extended development Compromises to features / benefits to make deadlines Finished product less than what was required Missed market opportunities Well put it in the next version syndrome A Familiar Outcome? What Happened?
22. Permission to reprint or distribute any content from this presentation requires the prior written approval of Standard & Poors. Past Product Development Pitfalls Specifications may not take into account IT skill sets and levels of understanding about the development environment. IT is often forced to make development estimates based on unfamiliar functionality or new technology. Development phase becomes more than just implementation. IT must learn, innovate and re-invent. Creates too many unknowns. Communication channel between IT and the Business side was weak. As a result, IT does not know how the applications they are developing fit into the organizations goals.
23. Permission to reprint or distribute any content from this presentation requires the prior written approval of Standard & Poors. Situation Analysis Legacy product losing market share. Technology not updated. Client base changing – younger, more technologically savvy. Content is referential, becoming commoditized. Disparate content sets are not contextual. We needed to: Create actionable, meaning full content and present it in a manner that provides efficiencies for the user. Use modern technologies (Web 2.0, AJAX…etc.). Prune commoditized content. …and we needed it quickly!
24. Permission to reprint or distribute any content from this presentation requires the prior written approval of Standard & Poors. A New Approach Identified a small dedicated team from all functional areas to serve as a working group for the development of a new product. –A project leader, designer, 2 developers, 2 editors, business analyst, marketing director. (Sales, analytical, client services…etc. as needed). Instituted an upfront Design – Test – Learn process. –Inventory all data sets, content types, authentication and permissioning utilities, dependencies, available hardware and software, skill sets…etc. –Design the user interface together with cross-functional team including IT. Determine content interaction and flow, functionality, pixel dimensions, colors, fonts, scalability…etc. –Build prototype that actually works…not smoke and mirrors. –Visit clients, hold focus groups…Learn! –Tweak prototype based on feedback. –Adjust databases, servers as needed to support the new UI. –Release prototype into production.
25. Permission to reprint or distribute any content from this presentation requires the prior written approval of Standard & Poors. Results! Everyone is accountable from the beginning. Nothing to misinterpret. Compromises and resolutions occurred during design, not during development. Enable us to create a working prototype in 3 months to share with clients. Development period was dramatically reduced. Fully working product available on-time and on budget Increased confidence in IT.
26. Permission to reprint or distribute any content from this presentation requires the prior written approval of Standard & Poors. Analytic services and products provided by Standard & Poors are the result of separate activities designed to preserve the independence and objectivity of each analytic process. Standard & Poors has established policies and procedures to maintain the confidentiality of non-public information received during each analytic process. www.standardandpoors.com
MARCH 2004 Business And Technology Tools For Working Together Ben Telling VP Of Product Development And Production Systems
Agenda Overview A Quick Case Study Tools For Working With Technology Personal Lessons Learned
Hanley Wood Overview Hanley Wood is a leading-edge business to business media and information company reaching audiences in residential housing and commercial construction. We have four operating divisions that produce magazines, web sites, trade shows and events; collect, analyze, and interpret industry data; and create custom marketing solutions Four Operating Divisions – Business Media – Exhibitions – Marketing – Market Intelligence Corporate Support – Technology Group, Accounting and Finance, HR – Executive Management
My Role At Hanley Wood Reporting To The CIO, I Am The Vice President of Product Development and Production Systems For The Hanley Wood Technology Group With Responsibility For Publishing and Editorial Systems Content Management Systems Customer Management Systems All Production Systems Custom Website and Software Development
Major 2007 Business Media Related Projects K4 and InDesign Rollout Content Management Solution Enterprise CRM Solution 11 New Magazine Web Site 6 Major Web Site Upgrades
MARCH 2004 A Fictitious Case Study Of XYZ Company
What The Strategy Proposed Copyright 2005 Velociteach Senior Management at XYZ Company Creates A Strategic Vision For A Solution That Increases Revenue Increases Productivity Increases Value Have a Rapid ROI Utilize New Technology
What The Business Requested Copyright 2005 Velociteach Stakeholders, Unsure Of The Details Behind The Vision, Create Requirements Based Upon What They Actually Need Today What They Think Management Wants Where They Think They May Need To Go
What The Business Analyst Understood Copyright 2005 Velociteach Business Analysts Interview Stakeholders And Create Requirement Based Upon What They Hear From The Business, What They Know About The Existing Systems What They Know About The Existing Processes What They Believe Technology Needs
What Technology Designs Copyright 2005 Velociteach Having No Clear Business Owners To Interact With, Technology Takes The Requirements And Designs A Solution That Is Based Upon New Technology Its Understanding Of The Business A Desire To Ensure The System Will Do Anything The Business Could Ever Need What The Budget Allows
What It Cost Copyright 2005 Velociteach Due To Poor Communications, No Clear Owners and Strained Working Relationships The Project Overruns Due To Expensive Technology Multiple Reworks No Clear Budget Management Many Project Delays
What Was Finally Implemented Copyright 2005 Velociteach After Massive Overruns, Poor Communications, And Lots Of Finger Pointing The Final Solution Is Delivered With Missing Functionality Defects Missing Or Inaccurate Workflows Slow Performance Legacy Features
What Was Supported Copyright 2005 Velociteach Unfortunately Projects, Training, Support and Deployment Are Forgotten Until The Last Minute. This Results In Frustrated Users Failed Deployments Loss Of Productivity Limited Support Unhappy Customers
What The Business Really Needed Copyright 2005 Velociteach What The Business Really Needed Was A Simple Solution That Would Allow The Business Users Drive The Business Forward Cheaply And Effortlessly
So What Went Wrong Poor Vision Definition No Drill Down On Needs No Clear Business Ownership Miss Communications No Overall Project Management No Continual Interaction With The Business
Communications Communication Is The Most Important Part Of Having The Business And Technology Work Closely Together. Tools To Ensure This Occurs Include A Standard, Business Focused Methodology Regular Senior Management Updates Frequent Meetings With Product Owner Regular Verbal and Written Status Reports Regular Requirements, Design and System Reviews Frequent Meetings With Cross Functional Oversight Team
Business Owner Sometimes called the Product Manager, The Business Owner Is a manager on the business side that has the following responsibilities Ultimate Authority On Requirements ROI Responsibility Accountantability To The Executive Sponsors Manages The Oversight Committee Gives Technology And Business Teams A Clear Point Of Escalation To Resolve Issues
Project Management The Project Manager is a key component in the success of any complex project. They bring the following skills and control to a project Task and Milestone Management Risk Management Communications Management Resource Management Project Transparency Project Accountability Financial Management
Team Approach A Tool For Creating A Successful Solution Is To Create An Oversight Committee That Is Accountable For The Project And Include All Aspects Of The Company. This Group Should Include Representatives From The Following Groups Business Management Business Staff Operations Staff Technology Management Technology Staff Accounting and Finance Staff
Example Of A Team Approach Executive Sponsor Executive Technology Sponsor Business Owner Technology Owner Project Manager Business Analyst Implementation Team Oversight Committee
Approaches That Work Clear Project Ownership Clear and Measurable Project Goals A Close Working Team Between Business And Technology Work In A No Blame Environment Cross Train Business and Technology Staff Project Management A Plan With Multiple Small, Manageable Project Deliverables Clear Communications
Approaches That Create Issues Assume That It Can Be Done Faster And Cheaper Then Is Quoted Pass Requirements Over The Wall and Assume Things Were Understood Project Ownership and Management By Committee No Executive Sponsorship No Clear Business Goals Work In An Us and Them Culture Large, Unmanageable Projects With No Sub Phases