SOQUEL, Calif., Aug. 1, 2018 /PRNewswire/ -- The Business Architecture Guild® is announcing the release of financial services, insurance and common industry reference models for business architecture. These reference models are now available for download in machine readable format in the Guild Online Store. Each reference model represents a baseline for organizations seeking to jump start or augment efforts to establish a formal, principled business architecture and related practice.
The reference models were built and refined by Guild reference model teams, each of which is comprised of volunteer Guild members from various organizations for that industry. Initially published in the BIZBOK® Guide, the downloadable reference models adhere to formal mapping principles and best practices to ensure that they deliver a robust foundation for in-house business architectures.
All industry reference models are built upon a common foundation, as represented by the common industry reference model. The common industry reference model is industry agnostic while the financial services and insurance reference models accommodate a cross-section of industry subsectors. All reference models include a capability map, decomposed to level 3, and a set of widely used value streams. Selected reference models include a basic stakeholder map and organization map. All reference models will evolve in breadth and depth and eventually include expansion of existing content, additional mappings and cross-mappings.
Organizations may apply the reference models in a variety of ways including adopting them as is and modifying them for in-house use, or using the reference models to augment in-house business architectures. Because they share a common foundation, organizations with hybrid or multiple business models, such as an insurance company with financial services, may mix and match multiple reference models to establish best of breed, in-house business architectures.
The Guild will periodically release updates to these and other business architecture reference models as time progresses.
Guild member and volunteer, Andrew Semple, who serves as co-chair of the Guild's financial services reference model team, talked about the process of building the model in this way "The reference models released are the culmination of many months of volunteer effort and input from business architects and industry experts from across the globe."