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Engagement – Model Build and Support
STAGES
BUILD
- Outlining scope (incl. Generic assumptions, and Operational metrics) post discussion with the client
- Build the model from the scratch as per the finalized Scope
- Model encompassing outputs related to internal governance requirements
- Regular interaction with the client on a weekly basis to ensure the WIP model is in sync with the client requirement
4 to 6 weeeks1
UPDATE & REVIEW4
- Update the model as suggested by client (beyond the initial framed scope)
- Review of the model post Update exercise comprises of:
- Unique Formula Extraction – Using in-house software tool, unique formula tab-wise is listed down
- Linking error – leading to significant logic error, potentially significant logic error is identified and corrected
- Data Book Error – Any input data or assumptions which are not consistent with the data book is highlighted
- Labelling/Formatting Error – Inappropriate, Inconsistent, or missing labelling/formatting is corrected
- Sanity Check – Logic checks are done and highlighted, if found any
- Assumptions check – SME challenges the assumption on the basis of his/her expertise
- Stress/Scenario Testing – is done by switching ON the various cases or designated sensitivity input configurations in the model
2 to 4 weeks2
SUPPORT
- On-going Model Update – Any update/tweak required during LIVE project undertaken by client
- Live Project Support – Full time support provided on LIVE project
1 to 2 weeks3
- Effort estimate might change depending upon the model complexity
- Effort estimate might change depending upon the quantum of suggestions made by the client. Run rate of auditing exercise is ~500 unique formula per day.
- Effort estimate depends upon the nature of the project. For complex LIVE bid related projects, the support effort requirement might stretch to 4 weeks.
- Review of the model will be done post the Update exercise