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Summary and Comments

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Category: 

Domino_Effect

Date: 

1997-07-16 00:00:00

Subject: 

A Banker Describes the Domino Effect: Total

  Link:

http://www.senate.gov/~banking/97_07hrg/071097/witness/iacino.htm

Comment: 

David Iacono is the Senior Manager of the Millennium Project of the Bank of Boston, which is regarded as being at the forefront of y2k repairs. On July 10, he testified before the Subcommittee on Financial Services and Technology of the Senate Banking Committee. (See a more detailed summary under "Banking.") Here is his description of the domino effect:

"The Year 2000 computer problem is pervasive and is global in scope. It affects not only the financial services industry, but all industries. Each business is itself both a customer and a supplier in the food chain of international commerce. Each industry is simultaneously competing for available human resources to complete its remediation processes against a fixed deadline in order to mitigate its Year 2000 risks. The millennium challenge is a significant project management challenge that requires institutionally focused attention as well as addressing dependencies on its suppliers that are facing the very same challenge. These are the parameters that make the millennium challenge unique" (p. 1).

In short, to save anything from the Bug, you must save everything.

But this is an impossible task for anyone but God.

Conclusion.....?

Link: 

http://www.senate.gov/~banking/97_07hrg/071097/witness/iacino.htm

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