• Proceedings of the Korean Operations and Management Science Society Conference
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• 2008.10a
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• pp.455-459
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• 2008

This study defines the Next Generation System(NGS) built by domestic financial businesses and classifies their architecture into two typical types according to the duration of the project and the relative cost of IT investment in the short term: the Big Bang approach and the Phase approach. Herein, we study the two approaches as alternatives in developing the Next Generation System, and derive the factors that are to be considered in the evaluation of the two alternatives for financial businesses. The set of standards for the choice between the two models are grouped into categories that constitute performance evaluation for IT - Cost, Performance and Risk. We drill down further into each category to second and third subordinate levels to derive detailed selection criteria. Based on the criteria drawn from the study, we conduct a survey with information system planners, IT managers and specialists at financial companies who are currently planning, developing or have completed a Next Generation System. Survey results are analyzed using the AHP methodology to compare and understand the different approach in the implementation of NGS for financial business.

• Informatization Policy
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• v.28 no.3
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• pp.95-111
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• 2021

To achieve a data-driven policy decision-making system, the Ministry of Strategy and Finance has formed a marketing team and is actively building upon it. This system, currently under construction, will enable data-driven financial tasks beyond simple financial administration. The U.S. has already enacted The Foundations for Evidence-Based Policymaking Act in the process of similar pursuits. Since last year, the data-driven system administrative law has been enacted in Korea, and a legal framework has been established for data-driven administrative work. The next-generation budget accounting system to fulfill its role as a data-driven system needs public policy support to operate. Innovation and transformation are needed in various areas such as data management, legal system, and installation of related systems. Accordingly, it is very timely to analyze the financial systems and policies of advanced countries such as the U.S. and U.K., which already have established and operates such a financial system. By benchmarking and applying existing financial information systems to the next-generation budget accounting system, a better system will result. In this study, major developed countries, including the U.S., U.K., France, and Canada were benchmarked and analyzed in terms of the main elements of data governance: public policy, systems, legal framework, promotion system, and service level. It was discovered that the role and direction of the national fiscal policy system that the people favor should be able to respond quickly to the recent difficult economic crisis environment such as the digital transformation trend and COVID-19.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.7
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• pp.3194-3200
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• 2012

The aim of the paper is systematically to organize the historical facts of financial IT development process through various tracking and proved knowledge, it is to propose the direction and the advanced frame of core-banking model in next generation for the year 2020s. To achieve it, this study variously analyzed the meaningful pattern of development process of financial IT by backtracking life-cycle of Core-Banking model and it presented new model of Core-Banking for the past 40 years. In research findings, the life cycle of financial IT system and core-banking model have been analyzed about 10 years and the longest model of life cycle is about 33 years. As a result, It proved to be desirable that the advanced frame of the Core-Banking model adds the functions of business hub and product life cycle management to basic frame of its existing model in the future. In addition, big bang development method of new next generation system must be sublated. Also, They need to be initiated more business-oriented than IT-oriented. Along with this, the financial IT should be developed into the convergence industry, and it needs to extend the systematization of Core-Banking model studies and more professionals. Finally, this study has arranged the financial IT development process in domestic and presents new frame through analyzing intensively the Core-Banking model for the first time Therefore, it can be contributed to serve the guideline regarding the direction in new next generation system.

• Journal of Information Technology Applications and Management
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• v.11 no.2
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• pp.167-178
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• 2004

Different from traditional development methodologies like waterfall model, the CBD (component based development) methodology relies on a building block approach in the design and development of information system. The audit procedure and checklist for the traditional IS development methodology are required to be modified to be suitable for CBD. This research reviewed IS audit guidelines for the existing development process and analyzed multiple projects that employed the by component based development process. For the purpose of this study, we chose a governmental project and a next-generation IS project of a financial agency as sample cases. By comparing existing IS audit checklists and items actually reviewed in audit projects, this study identified appropriate check items for the CBD-centric audit program. New items were proposed as additional items such as project control in management phase, usage case and conceptual model establishment, component evaluation and design, in implementation phase, and so forth. The result of the research provides new guidelines for the audit CBD projects for the purposed of increased efficiency and qualify of application development projects.

• The Journal of Information Systems
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• v.20 no.4
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• pp.119-143
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• 2011

Recently, Information System (IS) development projects such as the next generation IS project of the financial business domain have shown tendency to become large and complex. Accordingly, a large number of enterprises have introduced a Project Management Office (PMO) to successfully manage multiple complex large-scaled projects. Many researches and empirical studies have proved the positive results of PMO-based projects. For example, most PMO-based projects have been accomplished successfully without exceeding the planned deadline and budget. However, even in the case of PMO-based projects, participants are still supported by legacy Project Management Systems (PMS) developed without considering the PMO. It implies that recent large projects are hardly performed efficiently because of the large gap between the legacy PMS tools developed only for single small projects and the real process of PMO-based project management. Therefore, we attempt to design and develop a PMO-based PMS in which the role and responsibility of PMO are completely implemented. To demonstrate our systems practicality, we applied the devised system to the real project management cases of "K" bank in The Republic of Korea. According to the results of case analysis, all of the four projects supported by our PMO-based PMS have been completed without exceeding planned deadline and budget, and the quality of their final outcome is appraised to be superior.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.7 no.6
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• pp.1185-1193
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• 2006

The next generation networked information system over unbounded internet is open to various network attacks and incidents, so many users suffer from damage and financial loss. In this paper we propose a survivability management model to evaluate the tradeoffs between the cost of defence mechanisms for information systems with weighted service and the resulting expected survivability after a network attack or occurrence of incidents. By varying the level of defence in the simulation, we examine how survivability changes according to the defense level. We derive a cost/survivability and weighted service/survivability curve that managers can use to decide on the appropriate level of defense for the network system of their organizations.

• Journal of Information Technology Applications and Management
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• v.17 no.4
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• pp.157-180
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• 2010

The IT services industry is considered as the leading industry of the ubiquitous age that raises a nation's overall productivity and efficiency. Therefore, it is receiving increasing attention as the industry that can bring about economic takeoff and successful overseas market entrance for the next generation. In order to achieve successful development, the industry should be competitive and armed with strategies that well demonstrate the characteristics of IT services. Therefore, it is important to explore the competitive factors of the industry for its qualitative development from the perspectives of IT services industry policies and as well as IT services companies. This study categorized IT services into three types-system integration, IT consulting, and IT outsourcing- and then examined the competitive factors of each service type and their relationships with financial and non-financial performances. In conclusion, the current competitiveness of domestic IT services industry is attributed to institutions environment rather than its competitive advantages in technology, quality, know-how, and highly qualified human resources. In order to facilitate the sound growth of the IT industry and seek reasonable market competition, the environment that puts its priority on the improvement of institutions environment and the ability to carry out a project needs to be established. In all, this study can be utilized as an important knowledge for the establishment of polices to foster IT services industry and of strategies that raise competitiveness to maximize the performances of companies.