Managing the model design project

In order to design an effective model, you need to first understand the business case for the model. Once you understand the business case, you should be able to determine where the necessary data is coming from and successfully complete your project if you follow a few basic rules.

Rule 1 – gather information

We should know where to gather business information and where to gather technical information.

During the information-gathering phase of a new project, it can be very easy to choose one person or group of people within the business community or technical community and only focus on them. In reality, every project will have different stakeholders and each stakeholder will be able to provide a different type of information. If you work with multiple areas of the business to gather the information, it will become logical who you should contact for different information.

For example, if we are working on a project to design a model on top of an accounting...