International Monetary Fund
Author/Editor: Hervé Tourpe ; Ashley Lannquist ; Gabriel Soderberg
Publication Date: September 8, 2023
Electronic Access: Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
As central bank digital currency (CBDC) projects progress around the world, there is an increased need for a project management methodology that is appropriate for CBDC.
This paper develops a CBDC-specific project management methodology that establishes a common terminology and offers guidance to development teams on best practices for addressing the complex requirements and risks associated with CBDC.
It is centered on an original five-step approach called the “5P Methodology”: preparation, proof-of-concept, prototypes, pilots, and production.
The methodology emphasizes a phased approach to CBDC research and development, with a strong focus on research preparation, experimentation and testing, risk management, stakeholder engagement, and cyber resilience.
Source: International Monetary Fund