2002 REVIEW OF OPERATIONS Cognizant People Power Cognizant has more “people power” than any other company in the industry, enabling us to consistently attract and retain IT and MBA talent and strategic clients. During 2002, Cognizant became the first company to be independently assessed at Level 5 – the high- est level – of the People Capabilities Maturity Model (P-CMM) version 2.0 across all of its key development centers in India. The P-CMM framework, developed by the Software A number of factors contribute to the organi- zational success of our people processes and practices. First, we recruit the top IT talent from India’s leading academic institutions. Our long-standing relationship with these institutions and our “Employer of Choice” standing gives us the ability to ramp up fast with the best people to meet the growing demand for our services. The most innovative thinkers in the industry – the IT elite – are drawn to Cognizant because it is an organiza- tion dedicated to encouraging innovation and providing an environment that is challenging, non-hierarchical and entrepreneurial. This environment is a product of Cognizant’s unique global business culture, which com- bines the best of the U.S., Europe and Asia – as opposed to most IT services companies, which lack the experience needed to success- fully drive a unified global culture.  Engineering Institute at Carnegie Mellon University, rates the organizational maturity of people processes and practices. The Level 5 assessment of Cognizant confirms the success of our best-in-class practices for attracting, developing, motivating, organizing and retaining talent.  To ensure our ability to operate as a seamless extension of our clients’ organizations, Cognizant trains its associates at  The Cognizant Academy , our in-house corporate university, to develop not only their technical expertise, but also their management, leader- ship and cross-cultural skills. Our ability to Innovative, challenging, non-hierarchical and entrepreneurial – Cognizant’s unique global business culture draws the industry’s IT elite. 6