Information will be better organised. Distinction between CIO/CTO & CEO roles will be made. Suggestions to improve the contents of this page are most welcome.
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
Involves substantial amount of money and resource. Accounting for this is a key issue.
