Mellon Financial Corporation's Treasury Systems software engineering team -- the group that supports Mellon's activities in the areas of global cash management; foreign exchange; fixed income securities underwriting, distribution and trading; trade banking; and management of global exposure and risk -- has become the first group within Mellon to renew its CMM(R) (Capability Maturity Model(R)) Level 3 assessment.
This is the first in a series of CMM Level 3 reassessments to be carried out by the software engineering teams that support Mellon's principal lines of business and shared services support groups.
"Reassessments require proving not only compliance with stringent Level 3 requirements, but also the team's commitment to evaluating and improving results since the last assessment. Mellon's willingness to voluntarily conduct such a rigorous reassessment only two years after achieving CMM Level 3 speaks volumes about its commitment to software engineering excellence," said Software Engineering Institute (SEI)-authorized lead external assessor Norman Hammock.
Developed by Carnegie Mellon University's Software Engineering Institute (SEI), CMM provides a five-step model of capability maturity for organizations committed to achieving better quality and higher levels of on-time, on-budget and on-scope performance. Level 3 focuses on institutionalizing effective software engineering and management processes across all projects.
"Our Level 3 renewal program underscores our commitment to maintaining Mellon's tradition of technological leadership, said Allan P. Woods, Mellon vice chairman and chief information officer. "By allowing us to better leverage our software engineering resources, CMM makes an important contribution to our information technology program's ultimate objective of enabling Mellon's businesses to produce measurably superior results for our clients."