Perhaps most importantly, detailed project notebooks were introduced into the process, in order to measure progress against plans, enhance accountability and facilitate audits and testing. This last point is critical. The introduction of project notebooks requiring formal sign-offs by responsible employees and contractors, changes the nature of the process. Once employees are required to stake their reputations on their work with formal sign-offs, the care with which each step is undertaken is significantly enhanced. Where before, an ill-defined group of people might work on various aspects of a system, now each individual software routine has an owner who is responsible to the point of initialing a page in a project notebook to indicate that the routine itself is ready and that it successfully integrates into the larger system.
Testing becomes more comprehensive.
Validation efforts are enhanced to ensure that no unwanted changes have been introduced into the system. Internal auditors and even external auditors have started including review of these project notebooks as part of their Y2K and technology and operations audits. Roll-up reports are generated regularly at each level until an overall summary is available for presentation to the Board of Directors by the Y2K Committee. Visibility and accountability at every level has increased, as compared to maintenance activities of just a couple of years ago. That bank got back on track quickly and I am pleased to report that it completed its acquisition and has impressed bank regulators upon every subsequent visit.