Project Management: Employing Iterative Development to Achieve Success

August 4, 2010

Up to half of all internally executed application development projects fail because project managers are either too close to issues to realize the bigger implications to an organization or because they fail to periodically reassess their progress. Although barriers sometimes still arise during YJT's product development projects (be they communication, technical, or logistical), YJT utilizes an iterative development approach to build systems that allow our developers to provide business solutions more quickly. By organizing and managing cross-functional project teams that remain closely integrated with customers, YJT is able to eliminate barriers that sometimes creep into traditional waterfall-based approaches.

It is no wonder that a commonly used math and computing term has been applied to project management. Typically seen as a way to take the output from one repetition and apply it to another, iteration can be used to break projects down into more tangible pieces that, when fulfilled in incremental steps, then flow into the harmonious completion of one project. Functionality immediately begins to improve as soon as the first iterations occur.

A trading firm's lifeblood is its open positions, so good position management is absolutely crucial. While working on a recent position management system, the implemented practices of test-driven development, continuous integration, and two week sprints enabled the team to deliver the most meaningful features to the client. The malleability allowed for just-in-time shifts in priority that resulted in a product that consistently delivered valuable functions on a regular schedule.

Customers are incredibly satisfied by their involvement in the development process and appreciate the transparency and predictability of the results. YJT's project approach is particularly enjoyable to application developers because both the process and the ability to receive regular feedback enables them to better meet client needs and proves to be incredibly rewarding.