Question 1
Q1A financial services firm is in Phase IV (Model Development) of a CPMAI project to create a real-time fraud detection system. The data science team has developed a highly accurate deep learning model. However, during a review, the compliance team raises a concern that the model's decisions are completely opaque, violating new regulatory requirements for 'Right to Explanation'. What is the most appropriate next step for the project manager according to the CPMAI methodology?
Show answer & explanation
Correct answer: C
The CPMAI methodology is iterative. A critical new requirement, such as regulatory compliance for explainability, discovered in a later phase necessitates an iteration. The correct action is to loop back within the current phase or a previous one to address the gap. In this case, returning to Model Development (Phase IV) to build a compliant model is the right approach. Ignoring the requirement (A) or trying to change the project's fundamental goals (B) is inappropriate. Scrapping the model entirely (D) is too drastic; iteration is preferred.