Y2K - A Management perspective

The top management's strategy, determination & commitment is absolutely necessary to resolve this problem. As Irene Dec of Prudential points out, its more of a Project Management Challenge than a Technical challenge. An improper strategy cud lead to more catastrophes. It will be like adding salt to the injury.

There are various methodologies known today to circumvent the problem. All organisation shud take a holistic view of all its systems and processes before implementing the solutions.

Y2K has the following characteristics :

• Fixed immovable deadline
• Requires additional resources & funding
• Affects not just IT Systems but all automated systems like Secure-Entry systems, lifts, license agreements, etc.
• Also involves all processes & procedures and non-automated systems too (Eg. the "19" printed on vouchers, invoice & recipts stationery. Also some of thebarcoding systems)

Constraints on time, money, resources with a serious impending crisis requires tactical management strategy to solve it.

Key management issues are :

• Taking stock of the systems, processes & procedures
• Creating awareness & education
• Identifying and assessing the problem areas
• Formulating APPROACH taking the holistic view of all the systems and processes
• Gaining commitment and support of all people in the organisation from the top-management to users.
• Implementing the approach
• Testing and implementaion

RISK management :

• Failure of the system components due to Y2K issue
• Additional problems arising due to fixes of Y2K issue
• Losses due to system failure and possible litigation costs
• Taking a look at insurance policies available
• Legal consulatation regarding
  • affects of Y2K From your counterparties
  • affects due to Y2K to your counterparties
• In case of outsourcing proprietary data & key algorithms are subject to security breach
  • loss of competition
  • Non-compliance of Secrecy assured to your customers data
  • Security threat
  • Exposure of key things to third parties

Funding and accounting

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