This portfolio management approach addresses the full life cycle of standards, from initial assessment and development, through value realization.
Energistics uses a life cycle, portfolio management approach to develop and manage standards and related materials. In addition to development and management of the standards, this approach emphasizes promoting deployment, adoption, and realization of intended value.
The process spans initial opportunity recognition and assessment, development, early deployment, full deployment, re-assessment and revision, and retirement. The process is composed of nine stages, each defined by its major activities and the decision process that completes it.
The linear presentation of the process should not be misinterpreted. Many stages in the cycle call for iteration of a stage or stages, splitting of activities into multiple, separate activities, which help to refine and improve the resulting standards, helping to ensure their quality and efficacy.
This life cycle process should not be confused with any software or technology development methodology. Specific technology-oriented techniques and specific resource-organizing approaches are applied as appropriate within this structure.
BENEFITS OF THIS APPROACH
The key benefits of this full life cycle approach include:
- Assures that standards will meet industry needs, because the process is inclusive, providing several opportunities for industry and interested public to review, comment, and provide input and feedback.
- Ensures quality, fit-for-purpose standards through an iterative process that challenges and refines results.
- Improves adoption and uptake through stages that address deployment, effectiveness.
- Helps ensure that standards remain current and relevant with stages that address review, evaluation, and revision of previously approved standards.
BUSINESS PROCESS REFERENCE MODEL
The Energistics E&P Business Process Reference Model identifies the main business, operational, and management processes used to execute the work of E&P.
The purpose of this model is to serves as a source for defining common processes, concepts and vocabulary for which standards are developed and applied. As such the model plays a key role in the planning and requirements stages of the Standards Development Life Cycle.
For more information, see E&P Business Process Reference Model.