You are an Agile Coach for a software company that develops financial tools. The current project involves an application that requires adherence to financial regulations and frequent market-driven updates. The team is skilled in agile practices and needs to maintain this agility while ensuring thoroughness and compliance. What recommendation should you make to blend the agile way of working with the necessary controls for financial regulations?
Cancel agile practices in favor of a traditional, sequential project management approach
Implement traditional risk management processes while developing in separate agile workflows
Integrate incremental control points with compliance checks into the agile sprints
Continuously develop using agile without any additional checks, allowing compliance to be met naturally as iterations
The correct answer is to integrate incremental control points with compliance checks into the agile sprints. This means that agile practices should be retained, but with each iteration, opportunities are provided to assess whether the deliverables comply with the applicable financial regulations before proceeding. Tailoring agile towards more regulated industries involves understanding the level of criticality and the unique demands of regulatory standards, then carefully inserting these checks without jeopardizing the iterative, adaptable nature of agile development. Removing agile practices is not advisable as it would reduce the team's agility, whereas not considering regulatory standards could lead to non-compliance.
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