Business critical model
Should cost modelling, Development Guidance, Version 1.0, published by Government Commercial Function in May 2021 sates: ‘A ‘Business Critical Model’ (BCM) is one that informs and is essential to financial decisions or the achievement of business priorities where errors could result in significant financial damages, legal damages, reputational damages and/or penalties.’
And a BCM list is: 'A list or inventory of all ‘Business Critical Models’ maintained within the contracting authority. It will include information such as model name, production date, developer name, quality assurer name, Model SRO name, development status, current QA status and planned QA and testing activities.'
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