Xilytix | Trading Exchange: IV&V

IV&V can be used to reduce the risk in the development of large systems or major system changes. It is a process where an objective third party carries out independent review, analysis and testing of the project to confirm that:

  1. the requirements for the new system are appropriate (verification), and
  2. the development of the new system correctly implements the requirements and satifies its intended use (validation).

While IV&V can add substantially increase development costs, it provides large benefits in complex projects by mitigating risks. The savings in early and more thorough detection of issues can easily cover the cost of IV&V. It also has shown to lower post deployment maintenance costs as the IV&V oversight leads higher quality documentation and training materials.

While IV&V is routinely carried out in large public projects, the private sector is more conscientious of its costs.

Our simulation products are ideal for performing the validation facets of IV&V. By including both simulation and IV&V in your project, you get both: