AFTAs 2022: Most cutting-edge IT initiative—Morgan Stanley
Project: Data Driven Risk Assessment (DDRA)
Overview
Data Driven Risk Assessment (DDRA) automatically generates Technology Software Change risk scores. Gathering data from multiple systems pertaining to a proposed change, it applies pre-defined weighted points against 12 criteria and calculates a numerical risk score and a “lowest,” “low,” “moderate” or “high-risk” categorization. DDRA moved to general availability in January 2022.
What problem does it solve?
The purpose of DDRA is to increase technology stability by improving the accuracy of Software Change risk assessments, and it aims to do this while reducing human subjectivity and bias in favor of consistent data.
“Thanks to the Data Driven Risk Assessment, we can now fully automate the delivery of low-risk software changes into production, delivering on the promise of DevOps with faster delivery of changes, while increasing operational stability and quality.”
Trevor Brosnan, managing director and distinguished engineer, Morgan Stanley
How does it solve the problem?
Changes assessed as lowest risk can be fast-tracked through the “Systematic Change” process. End-to-end automation with authorization inherited from the Software Delivery Lifecycle process eliminates manual effort. DDRA currently represents over 18% of software development lifecycle (SDLC) change; it is 40 times less likely to cause a major incident; and it encourages the adoption of modern techniques—for example, mid-week releases.
Future developments
Morgan Stanley will override and replace its legacy manual risk assessment process with DDRA by mid-2023. By the end of 2023, the firm expects that 60% of all SDLC change will be conducted through the application and an automated risk assessment for non-SDLC change will be built using DDRA as the foundation.
Why they won
Over the years, these awards have witnessed a number of innovative and genuinely transformative initiatives, but none has held the potential for enterprise-wide change to the extent that Morgan Stanley’s Data Driven Risk Assessment (DDRA) project does. The DDRA initiative currently manages just under a fifth of the firm’s software development lifecycle (SDLC) changes, which by the end of next year is set to increase to more than half, while the framework’s ability to massively reduce the likelihood of major incidents―and therefore operational risk―on the back of introducing software changes is truly impressive.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
BST Awards 2024: Best buy-side execution venue—360T
Product: 360T
Buy-Side Technology Awards 2024: All the winners and why they won
The 39 category winners of the 2024 Buy-Side Technology Awards.
BST Awards 2024: Best buy-side performance measurement and attribution product—FactSet
Product: FactSet Performance Solutions
BST Awards 2024: Best buy-side newcomer (vendor or product)—Exegy
Product: nxFramework
BST Awards 2024: Best buy-side managed data service—S&P Global Market Intelligence
Product: iLEVEL Managed Data Services
BST Awards 2024: Best portfolio accounting platform—SS&C Advent
Product: Geneva and APX