Project: FDM 02 — Cognitive Engineering for Financial Decision Making

Dates: September 2002 - May 2003
Participants: Jamieson, G.
Description: This project was one of the first to explore how cognitive engineering principles can be applied to financial systems. The target of analysis was a type of mutual fund called a structured product, which is controlled by a team of portfolio managers. A Work Domain Analysis (WDA) was conducted to model the constraints that shape the actions of the portfolio management team. In doing so, the traditional WDA framework was modified to accommodate the characteristics of a financial system. The resulting work domain representation was used to evaluate the information artifact currently used by mangers of the structured product. The comparison revealed gaps in the information provided by the current system and highlighted target areas for improving the support provided to portfolio managers. Preliminary findings also indicated that the finance industry could benefit from the application of this cognitive engineering precept.

View PDF Achonu, J., & Jamieson, G. A., "Work domain analysis of a financial system: an abstraction hierarchy for portfolio management," Proceedings of the 22nd European Annual Conference on Human Decision Making and Control, pp. 103-109, 2003.

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