The present situation of the financial business can be defined as highly dynamic. The accelerating pace of product development is creating a serious problem for operational support systems. New ideas should come out to accommodate the new processes that this dynamism generates. The long delays encountered in modifying the existing software have been solved by large groups of people responding manually or by reducing the rate of product development (something not strategically adequate). To cope with these competitive requirements, organisations must be reengineered.
It is clear that a deep relationship between Business Process Reenginering (BPR) and software reusability. BPR consists basically of:
- tasks reformulation
- new task decomposition
A BPR can not be accomplished without taking into account the difficulty of modifying the operational support system. A library of reusable components is needed for :
- guiding this reformulation and decomposition
- reducing drastically the application deployment time
Therefore, the project emphasises the need of having a collection of software modules that represents Basic Business Tasks (BBT's). These BBT's are going to remain without any change whatever reengineering may be done on the business processes.
Having these basic software modules will allow to rewrite in a very quick and easy way the new software required to support the process changes. Should we have to rewrite the software from scratch, the process reengineering would be unaffordable because the time to do it would be certainly greater than the duration of the new situation.
The main purpose of the FIBOF (Financial Business Object Framework) is to build a Library of reusable objects (or framework) with the corresponding methodology to use it. These two products will allow the construction of financial domain with the characteristics of a typical framework :
- reusability; new behaviours (processes) can be constructed by the specialisation of the objects in the framework.
- completeness; the framework will contain the objects necessary to construct all processes of the financial business
- simplicity; a clear and consistent hierarchical organisation will allow the identification of a particular object easily
- adaptability; the proprietary aspects of the platform must be isolated so the objects can be adapted to the local conditions.
Twofold categories of elements will exist in FIBOF : the basic modelling components and the Generic Processes.
Funding SchemeIIF - Marie Curie actions-Incoming International Fellowships