Commercial Software Development and its relationship to academic computer science Academic computer science, that which is researched and taught in Universities, deals with programming basics, data structures, theory of computation, and so on. Commercial software development, on the other hand, concentrates entirely on different issues such pas project management, quality control, release planning, and the like. This talk presents the process of commercial software development and draws conclusions regarding how the Universities both succeed and fail with respect to it in preparing their students and in conducting research. Where Universities fall short, the results are increased costs and degraded software quality across the industry. Dr. David Penny received his Ph.D. from the University of Toronto, Department of Computer Science, specializing in the Software Engineering area. Concurrent with finishing his Ph.D., he served for two years on the Faculty of Arts and Science as a Lecturer. Dr. Penny then went on to work for IBM in the design and implementation of C++ programming environments. In 1994, Dr. Penny joined Algorithmics Incorporated as a manager of the software development group. In that capacity, he helped further the design, implementation, and productization of Algorithmics' flagship RiskWatch product. Since that time, he has been engaged in building products and helping Algorithmics clients implement these products, and has been instrumental in the rapid growth of Algorithmics as the premier vendor of Enterprise Risk Management software. Dr. Penny currently holds the position of Vice President in charge of Software Development and is a member of the Executive Management Committee at Algorithmics.