Acuity Risk Management LLP is a provider of Risk Management consultancy and software solutions. The company was set up with the intention of creating a software product (STREAM) which would enable the easy visibility and management of enterprise-wide risks. The STREAM product uses proprietary algorithms to calculate the risk an organisations is exposed to at any given point. Acuity required a product which could also be configured to fit into any organisational structure. It can also be configured to incorporate any management standard, such as ISO27001.
An Iterative Approach to Maximise Flexibility and Business Benefit
As a new business created with the intention of producing the STREAM product, it was important to release STREAM quickly to maximise income from sales, so SFW used the traditional waterfall methodology which delivered a complete marketable product.
Going forward, Acuity wanted to use its expanding knowledge of current and future client requirements to make continuous improvements to the product. As such, the iterative style of the Agile methodology, which allows for more regular feedback and more precise control, was selected for the further development phases. Because each iteration could be deployed at any point, Acuity could deliver the product to clients without delay. It could also prioritise key additional functionality required by clients as a condition of sale for the next fortnightly iteration, allowing Acuity to be flexible and responsive.
The STREAM product, now two years old, has already been incredible successful and is being used for Risk Management in areas as diverse as oil terminals, banking and hospital services. The Agile development process gave Acuity the flexibility and control over STREAM and, crucially, presented an early opportunity to offset development costs with sales and swiftly address client needs.
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