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The '''Y2K problem''' is a problem in computer hardware and software programming where unintended results may take place if a year represented as two digits is not interpreted correctly.  There are two basic aspects to the Y2K problem:<br /><br />  - Determining the correct value of a 2-digit year.  ''Example - does "20" represent 1920 or 2020?''<br />  - Performing date-based calculations correctly.  ''Example - if you subtract "97" (1997) from "07" (2007), will you get 10 years, or minus 90?''

The '''Y2K problem''' is a problem in computer hardware and software programming where unintended results may take place if a year represented as two digits is not interpreted correctly.  There are two basic aspects to the Y2K problem:<br /> - Determining the correct value of a 2-digit year.  ''Example - does "20" represent 1920 or 2020?''<br />  - Performing date-based calculations correctly.  ''Example - if you subtract "97" (1997) from "07" (2007), will you get 10 years, or minus 90?''

The origins of the problem lie in the high cost of data storage in the early days of computing, where  storing a date in 6 digits (mmddyy) versus 8 (mmddyyyy) could result in significant savings.  If the specifications for a piece of software were well-designed this is not a problem, but in many cases the century component of a 2-digit year was assumed instead of being explicitly accounted for in programming.

The origins of the problem lie in the high cost of data storage in the early days of computing, where  storing a date in 6 digits (mmddyy) versus 8 (mmddyyyy) could result in significant savings depending on volume.  If the specifications for a piece of software were well-designed this is not a problem, but in many cases the century component of a 2-digit year was assumed instead of being explicitly accounted for in programming.

As the 1990's progressed, it was determined that there was a significant base of legacy software and hardware that might not work correctly once the default century portion of current dates changed from "19" to "20".  While the code to handle 2-digit years correctly is not complex, the challenge was in identifying every instance of bad code, and correcting & retesting it before January 1, 2000.

As the 1990's progressed, it was determined that there was a significant base of legacy software and hardware that might not work correctly once the default century portion of current dates changed from "19" to "20".  While the code to handle 2-digit years correctly is not complex, the challenge was in identifying every instance of bad code, and correcting & retesting it before January 1, 2000.

The potential risks of devices failing to work after that date ranged were often exaggerated, with visions of aircraft falling from the sky and nuclear missiles launching by mistake.  The more practical concerns were a loss of integrity and confidence in the financial system, and the potential liabilities faced by those who did not ensure their systems to be Y2K compliant.

The potential risks of devices failing to work after that date ranged were often exaggerated, with visions of aircraft falling from the sky and nuclear missiles launching by mistake.  The more practical concerns were a loss of integrity and confidence in the financial system, and the potential liabilities faced by those who did not ensure their systems to be Y2K compliant.

==Challenges in Y2K Remediation==

==Challenges in Y2K Remediation==

There are varying estimates of the total costs related to performing hardware and software analysis, remediation and testing related to the Y2K issue.  Some estimates in the late 1990's put the worldwide cost in the trillions of dollars, but this has been dismissed as hyperbole.  A typical exaggeration was counting hardware/software upgrades that happened to be Y2K-compliant as Y2K-related expenditures, when they would have taken place anyway.  A more accurate estimate of the truly Y2K-driven analysis and cleanup effort would be in the tens of billions of dollars.<ref>[http://www.news.com/2009-1091-232056.html]Everyone pays a price for Y2K hype </ref>

There are varying estimates of the total costs related to performing hardware and software analysis, remediation and testing related to the Y2K issue.  Some estimates in the late 1990's put the worldwide cost in the trillions of dollars, but this has been dismissed as hyperbole.  A typical exaggeration was counting hardware/software upgrades that happened to be Y2K-compliant as Y2K-related expenditures, when they would have taken place anyway.  A more accurate estimate of the truly Y2K-driven analysis and cleanup effort would be in the tens of billions of dollars.<ref>[http://www.news.com/2009-1091-232056.html]Everyone pays a price for Y2K hype </ref>

Prior to the Y2K issue surfacing, software and computer systems had been considered an expense by many entities rather than an asset, and few resources were dedicated to ensuring that these systems were documented, well-managed and auditable after their initial launch.  The cost of achieving Y2K compliance prompted most firms and government agencies to improve the quality of their software life-cycle management.

Prior to the Y2K issue surfacing, software and computer systems had been considered an expense by many entities rather than an asset, and few resources were dedicated to ensuring that these systems were documented, well-managed and auditable after their initial launch.  The cost of achieving Y2K compliance prompted most firms and government agencies to improve the quality of their software life-cycle management.

The shortage of programmers trained in legacy languages like COBOL in the late 1990's provided an opportunity for companies in low-cost nations like India to offer outsourcing services to new markets.  Companies found that commodity-type assignments like Y2K remediation were a good fit for offshore outsourcing under these circumstances.  <ref>http://www.lib.utk.edu/news/readyfortheworld/archives/the_world_is_flat/001189.html</ref>The momentum in using offshore programming continued and accelerated after January 1, 2000 had passed.

The shortage of programmers trained in legacy languages like COBOL in the late 1990's provided an opportunity for companies in low-cost nations like India to offer outsourcing services to new markets.  Companies found that commodity-type assignments like Y2K remediation were a good fit for offshore outsourcing under these circumstances.  <ref>http://www.lib.utk.edu/news/readyfortheworld/archives/the_world_is_flat/001189.html</ref>The momentum in using offshore programming continued and accelerated after January 1, 2000 had passed.