Model Implementation

Definition

Model Implementation denotes the concrete programmatic realization of a Risk Model

Components

• A core element of the model implementation is the source code (in the form of a collection of files) that represents the abstract model together with any specification choices made at this stage. A Code Repository serves the complete, auditable, model implementation.
• A model implementation is the output of one or more model developers, that is technically skilled persons who translate the Abstract Risk Model and its Model Specification into computer code.
• Implementation may be in a variety of computer languages (or mix or languages) depending on the target IT Infrastructure

Issues and Challenges

• Implementation of risk models can be proprietary (closed source) or open source. Risk model implementations may be available / accessible under an wikipedia:Open-source_license Open Source Licenses as part of Open Source Risk Management Software