Quality Money Management
Quality Money Management (QMM), first proposed by Kumiega and Van Vliet (and also known in some areas as Quality Portfolio Management (QPM) or Quality Investment Management (QIM)), is composed of all the procedures for development, research, testing, implementation, and management of trading/investment systems, including delineation of responsibilities, all deliberately aimed at achieving performance levels consistent with or above the specifications of seed capital providers and investors. This is not a one-time effort. QMM requires ongoing commitment to improve continuously the systems of trade selection, execution, risk management and all other trading/investment system processes and the performance of statistical process control on risk attributes. When these procedures are taken together, they define how management of the trading/investment organization operates.
See also
- Algorithmic trading
- Investment management
- Quality
- W. Edwards Deming
- Six Sigma
- Total Quality Management
- Statistical Process Control
- Software quality
- Agile software development
- New Product Development
- Kaizen
- Project Management
- ISO 9000
References
- Kumiega, Andrew and Ben Van Vliet. (2007) Quality Money Management. Elsevier/Academic Press.
- Kumiega, Andrew and Ben Van Vliet. (2007) From Math to Kaizen. Advancements in Quantitative Finance Conference, presented by Microsoft. New York.
- Kumiega, Andrew and Ben Van Vliet. (2007) A Methodology for Trading and Investment System Development. 2007 Joint Statistical Meetings of the ASA. Salt Lake City.
- Van Vliet, Ben. (2007) The Key Technology Decisions. Automated Trading 2007 Conference. London, England.
- Cernauskas, Deborah, Andrew Kumiega and Ben Van Vliet. (2007) Risk Management for Complex Calculations. EuSpRIG 2007 Conference. London.
- Kumiega, Andrew and Ben Van Vliet. (2006) A Software Development Methodology for Research and Prototyping in Financial Markets. EuSpRIG 2006 Conference. Cambridge, England.
- Kumiega, Andrew and Ben Van Vliet. (2001) A Software Development Methodology for Financial Markets. 11the International Conference on Software Quality. Pittsburgh, PA.