REPLY Ensuring Quality of Models (SD6661)

[SDMAIL]

Posted by  <richard.dudley at attglobal.net>

I thank everyone for the responses regarding my "ensuring the quality of models"
question.   

However, I still didn't get an answer to what I was asking.  Perhaps I was not
clear enough, or perhaps there is no clear answer.

I am somewhat familiar with the various possible procedures for model
verification/validation and for checking model quality, but...

What I was really asking was: What are the internal procedures used to ensure
that verification and checking procedures are actually used.  Is there a
committee that gives a final OK to a model?  Is there a team procedure that is
followed to OK the "final version" of a model?  Is the model reviewed by an
"model auditing group"?  Is it left to the modeling team to determine when a
model is good enough?  Is it only via negotiations with a client that a model is
determined to be OK?

I am wondering if firms or organizations have procedures that are used to
(attempt to) avoid the release of faulty or unfinished models.... 

Or maybe my question doesn't make sense?

Richard
Posted by  <richard.dudley at attglobal.net>
posting date  Fri, 16 Nov 2007 03:21:26 +0700