The Case for Agile Methodologies against Traditional Ones in Financial Software Projects

Abstract

Agile methodologies have emerged to challenge traditional ones and overcome their limitations. Increasingly, software development organizations are scaling agile practices in order to meet the requirements of the quickly changing and regularly developing business environment. The main objectives of this study are to investigate the main differences between the traditional project management methodologies and agile methodologies, as well as to identify some key advantages and challenges of applying agile development in a financial software environment. The findings clearly show that using Agile methodologies in a financial software development environment increases the efficiency and transparency of the development process, as well as the stakeholders’ satisfaction, but the project managers must know how to adapt different Agile frameworks to the given context of their organization.