Development of a mathematical model for business process in information technology organizations

Abstract

The world of Information Technology, even though relatively new; has seen newlinetremendous technological, management and global changes. From the early days of newlinecommercial Software Development (around the mid-20th century) when software newlinewas a quick way to do things faster and better to now where the demand of newlinequantitative, mathematical and continual improvements being the in thing, the newlinejourney has been long and complex. newlineMeasurements and quantitative representations of performance have been evolving newlineon a near daily to weekly basis given the availability of newer technologies and tools newlineand better infrastructure and human capital. newlineThe business value of mathematically based predictive models has resulted in its newlinewidespread adoption across IT industry. Mathematical Models identify the pain newlinearea, understand risk and predict outcomes based on empirical data. Implementation newlineof the Mathematical Model s has yielded effective management based on precise, newlineaccurate quantitative data. Quantitative data management controls the processes, newlinereduces the variability, increase process capability, sustainability and stability. As a newlineresult of implementation of customized Mathematical Models , organizations newlineconsistently perform better in the marketplace, earn better market share and build newlinevaluable brand image. Also, Mathematical Model s implementation gives newlineimproved project performance and product quality. Thus, moves the organization up newlinein the value chain . newlineToday, since the onset of IT, a lot many organizations have significant data pool that newlinecan be constructively used for predicting the performance of established processes. newlinePage | - 2 - newlineThe idea is to build a dynamic Mathematical Model that may incorporate past newlineinformation as well as allow it to be tuned to current information thereby re-adjusting newlinethe Mathematical Model for analysis and monitoring the performance of newlineprocesses/sub-processes. Such a Mathematical Model can help a great deal in newlineplanning, execution and forecasting of projects, programs, business units and newlineorganizatio