The implementation of a model must be treated as a project with clear governance, planning, funding, resources, reporting and accountabilities.
7.2.2
The implementation of a model must be approved by Senior Management and must only occur after the model development phase is complete and the model is fully approved.
7.2.3
The implementation project must be fully documented and, at a minimum, must include the following components:
(i)
Implementation scope,
(ii)
Implementation plan,
(iii)
Roles and responsibilities of each party,
(iv)
Roll-back plan, and
(v)
User Acceptance Testing with test cases.
7.2.4
The roles and responsibilities of the parties involved in the model implementation must be defined and documented. At a minimum, the following parties must be identified: (i) the system owner, (ii) the system users, and (iii) the project manager. All parties must be jointly responsible for the timely and effective implementation.
7.2.5
For model implementation, institutions should produce the following key documents, at a minimum:
(i)
User specification documentation: this document should specify requirements regarding the system functionalities from the perspective of users.
(ii)
Functional and technical specification documentation: this document should specify the technological requirements based on the user specifications.
(iii)
A roll back plan: this document should specify the process by which the implementation can be reversed, if necessary, so that the institution can rely on its previous model.