Estimating Agile Projects.Or Not

Leading Answers

Project managers generally like plans and estimates so we can forecast when things should be done and how much they may cost. " So, when project managers hear about ideas such as "let's stop estimating," it can trigger a knee-jerk reaction.

Risk Analysis 101: How to Analyze Project Risk

ProjectManager.com

Before you’re able to analyze the risk in your project, you have to acknowledge that risk is going to happen in your project. By planning for risks, you begin the process of knowing how to identify, monitor and close out risks when they show up in your project.

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What Is a Risk Register & How to Create One

ProjectManager.com

What is a Risk Register? A risk register is a tool in risk management and project management. There is no time too early to start thinking about risk analysis in your project. Therefore, having a project risk register on hand and ready is essential in managing risk.

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Estimating Projects: What you Need to Know

nTask

Estimating projects is part and parcel of project management for any project. However, estimating projects with accuracy is not always so successful. In fact, many of the issues in project management can be traced back to failed attempts at estimating projects.

How to Package and Price Embedded Analytics

What’s more, these features contribute 54 percent of the overall value of software products, as estimated by independent. for all your users, you risk upsetting customers who don’t care about and may never. unnecessary risk and results in incorrect (and sometimes dangerous) decisions.

Risk Register Template

ProjectManager.com

Plan for project risks with this risk register template for Excel. Define risk priority and the potential impact for each. Risk is going to happen, but with this free risk tracking template handy, you can prepare for it and have a response already thought out and in place.

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The Close Sibling of Communications and Stakeholder Management: Resource Management

MPUG

In one of my earlier articles, The Twins–Communications and Stakeholder Management , I outlined how deeply and closely these two knowledge areas of the PMBOK® guide interact with each other. This is why I call it “the close sibling.”.

Risk Management Plan Example (Comprehensive Guide+Tempalte)

PM Basics

In this article, you’ll find the real-life project risk management plan example. Below the example, you’ll find all the required information and resources to create your Risk Management Plan quickly and for free. Risk Management Plan Definition. Risk Register, WBS).

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Seven Aspects of Project Risk in 2020

Strategy Execution | PMO Perspectives

Ahead of its January meeting in Davos, the World Economic Forum published its Global Risks Report 2020, based on the input of 750 experts and outlining the biggest risks faced by economies over the next 10 years [1]. And if the WEF didn’t see a risk coming, then what hope do we have?

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Principles of Cost and Schedule Estimating

Herding Cats

One of the 4 summary root causes of project performance failures is Unrealistic Cost and Schedule Estimates based on inadequate risk-adjusted growth models. Those making these claims may have their own personal purposes, their own agenda, their own reasons for sell this idea that estimates are somehow no longer needed when we're spending other people's money to produce value in exchange for that money. If you have no uncertainty, then estimates provide no value.

What is an Estimate? What is Estimating?

Herding Cats

I work in a domain where estimates are made every single week. Estimate to Complete (ETC), Estimate at Completion (EAC), Estimated Completion Date (ECD) are the life blood of our software intensive system of systems programs. Since all projects operate in the presence of uncertainty, with the resulting risk - estimates are needed to make decisions that impact the future. When past data is used, empirical estimating is the result.

The Origins of Scrum and Empirical Closed Loop Control

Herding Cats

This took me back since Scrum is derived from an empirical closed loop control system developed in the USAF by Col. And of course: Assessing the outcomes of the feedforward and feedback loops is the basis of all Closed Loop control system. See link below on Closed Loop Control). Making decisions in the presence of this emerging uncertainty requires making estimates of the impacts or outcomes of any decision. Closed Loop Control. IT Risk Management.

Risk Response Strategy (Definitive Guide with Examples)

PM Basics

How to select a Risk Response Strategy? Here you will find examples of risk responses for both threats and opportunities. But there’s a catch: You may have a limited mindset in regards to dealing with risks. So, I would suggest you review examples of dealing with different risks on a real project first. Project Risk Management Overview. Definition of Risk Response Strategies. By PMBOK® Guide the process is called Plan Risk Responses. Risk Rank.

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Simplifying Schedule Risk Analysis Using Microsoft Project Custom Fields – Transcription

MPUG

Please find below a transcription of the audio portion of John Owen’s session, Simplifying Schedule Risk Analysis Using Microsoft Project Custom Fields, being provided by MPUG for the convenience of our members. Well, thank you everybody for joining this webinar, we’re just going to talk about some simple ways of performing Schedule Risk Analysis basically just using Microsoft Project with an add in that we sell called Full Monte. It took 660% of the estimated duration.

Webinar Recap: Analogous and Parametric Estimating Schedule Template

MPUG

Please find below a transcription of the audio portion of Oliver Gildersleeve’s Analogous and Parametric Estimating Schedule Template webinar being provided by MPUG for the convenience of our members. The new schedule template covers both analogous and parametric estimating features.

Project Risk Management: 10 Surprisingly Brilliant Tactics to Reduce Risk

Workamajig

Every project has some risk of failure. This guide on project risk management will help you understand and manage risks better. If there is one thing you can be certain about in project management, it's this: Every project carries some risk. As you might know, this process of "planning ahead" is called project risk management. In this guide, I'll share X critical tips for acing project risk management. Project risk is more amorphous.

Risk 80

Risk Management is How Adults Manage Projects

Herding Cats

In a recent exchange in social media, it was clear the notion of risk and the sources of risk, the consequences or risks and managing in the presence of risk was in very unclear, when it was conjectured , we can simply slice the work into small bits and REDUCE risk. . First, the only risk that can be reduced is the risk created by Epistemic Uncertainty. Making things small does not reduce the risk it may make the uncertainty smaller.

2003 38

How to Cash In on Project Opportunities

Project Risk Coach

3 Is an Opportunity a Risk, Really? Project managers may use qualitative and quantitative risk analysis to evaluate opportunities. Consequently, these project managers and team members fail to take advantage of these upside risks. Is an Opportunity a Risk, Really?

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Why Estimates are Needed for Success in the Nondeterministic Universe

Herding Cats

There's a fallacy used by some in the software development business, that estimates are not needed to make decisions in the presence of uncertainty. Of course, the machine in the video wouldn't be able to take a step without falling if it didn't have a probabilistic feedforward adaptive closed loop control system. Closed-loop control systems actively control the system based on state feedback. Why Guessing is not Estimating and Estimating is not Guessing.

Small Batch Sizes are NOT Risk Management

Herding Cats

There is a popular fallacy in the Agile community that small batch sizes are Risk Management. What small batches do is provide information that informs risk management at a fast rate. This approach is a closed loop control system, where the estimates work (in your choice of ordinal units) is the starting point. As the work progresses the TO DO value goes from the original estimate to the new estimate to complete. IT Risk Management.

Risk 36

Risk Management Resources

Herding Cats

Risk Management is essential for development and production programs. Risk issues that can be identified early in the program, which will potentially impact the program later, termed Known Unknowns and can be alleviated with good risk management. requires making estimates) ? Effective Risk Management 2 nd Edition , Edmund Conrow, AIAA, 2003. Risk Management is Project Management for Adults - Tim Lister. Risk Management Papers. “A

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Aleatory Uncertainty Creates Irreducible Risk

Herding Cats

Yesterday's Post Epistemic Uncertainty Creates Reducible Risk and What Is Risk? Risk is not there to be mitigated, it's there to be eliminated. Risk is the result of uncertainty, which comes in two kinds for all projects, for everything actually. Epistemic uncertainty and the risk it creates can be reduced with handling processes. The objective of identifying and managing aleatory uncertainty to be preparing to handle the impacts when risk is realized.

Risk Management is How Adults Manage Projects

Herding Cats

These uncertainties create the risk to the success of all projects. Without managing in the presence of risk, the probability of project success is significantly reduced, most likely reduced to zero. A risk is an issue or event that could prevent a program or project from meeting its technical, schedule, cost, or safety objectives. Management in the presence of risk has the following steps: [1]. Track - is a fundamental step in controlling risks.

2016 53

Managing risk

Scrum.org

Often I hear people say that Scrum does not take care of risk: there is no risk log, risk is not on the agenda of the Sprint Review or Retrospective as a standard agenda-item. That's a risk right there! How is risk managed in Scrum? Scrum is all about risk management. Ken Schwaber talks a little bit about it in this short video: Risk is personal. First let's think about what risk actually means. Different types of risks.

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Five Immutable Principles of Project Success and Estimating

Herding Cats

Risk Management is How Adults Manage Projects - Tim Lister. All risk comes from Uncertainty - reducible uncertainty and irreducible uncertainty. [1] 1] No uncertainty No Risk. . If you're not managing risks You're not managing the project. In order to manage risk - and act as an adult when spending other people's money - you must estimate many aspects of the project. Control in the presence of uncertainty is Closed Loop.

2017 51

12 Principles of Agile with and without Estimates

Herding Cats

When we hear that the next big thing in agile is Not Estimating, let's look to see how those 12 Principles can be applied without those estimates? . How estimates help implement these principles. Without estimates what is missing. Without estimating the delivered value to the business for the estimated cost and time to delivery that value, the balance sheet will be wholly uninformed about when the breakeven date for this expenditure.

A Compendium of Risk Management Resources

Herding Cats

This blog page is dedicated to the resources used to manage the risk encountered on software-intensive systems using traditional and agile development methods. Let's start with a critical understanding of the purpose of managing risk on software development projects. Risk Management is essential for development and production programs. requires making estimates) ? Effective Risk Management 2nd Edition, Edmund Conrow, AIAA, 2003. Risk a Feelings,” George F.

2012 33

Webinar Recap: Risk Management Life Cycle in the Context of Project, Program, and Portfolio

MPUG

Please find below a transcription of the audio portion of Satya N Dash’ session, Risk Management Life Cycle in the Context of Project, Program, and Portfolio, being provided by MPUG for the convenience of our members. Satya N Dash: So first, the framework for risk management.

2021 52

Order to Delivery Work and Project Management: Improve Profitability and Reduce Risks Across Enterprise-Sized Projects

Leankor

To gain the critical insights and collaboration needed to improve profitability and reduce risks, business as usual will no longer cut it. The post Order to Delivery Work and Project Management: Improve Profitability and Reduce Risks Across Enterprise-Sized Projects appeared first on Leankor.

An Introduction to Rescuing At-Risk Projects

MavenLink

This blog post is an excerpt from our latest Rescue Guide , which was created to help you become a better project manager — one that is aware of potential problems, can identify when a project is at risk, feels comfortable and confident sending out that SOS, and can confidently course-correct, getting projects back on track. Miscommunication, unclear objectives, poor estimates, scope creep, lack of resources — the list goes on, and on, and on.

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Vendor Showcase Recap: Making Light Work of Schedule Risk Analysis – By Barbecana

MPUG

Please find below a transcription of the audio portion of John Owen’s showcase session, Making Light Work of Schedule Risk Analysis, being provided by MPUG for the convenience of our members. I’m going to talk about schedule risk analysis. This is the contingency for risk.

Vendor Showcase Recap: Making Light Work of Schedule Risk Analysis – By Barbecana

MPUG

Please find below a transcription of the audio portion of John Owen’s showcase session, Making Light Work of Schedule Risk Analysis, being provided by MPUG for the convenience of our members. I’m going to talk about schedule risk analysis. This is the contingency for risk.

A Compendium of Works to Increase the Probability of Project Success

Herding Cats

Business, Technical, Systems, Risk, and Project Management. Open Loop / Closed Loop Project Controls. Risk Management. Five Easy Pieces: The Essentials of Managing Programmatic Risk , 10th Annual Rocky Mountain Project Management Symposium, Denver Colorado, April 2008. Managing in the Presence of Uncertainty and Resulting Risk. Programmatic Risk Management, Program Planning and Controls Workshop , Denver, Colorado, 6-14, October 2008. Risk Management.

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Increasing the Probability of Project Success

Herding Cats

and the connections between each Process are made to form a Closed Loop control systems needed to manage any project. How to Avoid the "Yesterday's Weather" Estimating Problem. Capabilities Earned Value Estimating Governance Management Performance-Based Project Management® Principles Requirements Risk Root Cause Analysis Technical Performance MeasuresIncreasing the Probability of Project Success Simple in Theory, Complex in Practice.

2017 69

Compendium of Works to Increase Probability of Project Success

Herding Cats

Business, Technical, Systems, Risk, and Project Management Briefings and Presentations. Risk Management (#RM). Business, Technical, Systems, Risk, and Project Management. Managing projects in the presence of uncertainty means making decisions about cost, schedule, and technical performance all risk-adjusted , from the uncertainties that create risk. Open Loop / Closed Loop Project Controls - project management is a closed loop control system.

2015 37

Stakeholder Engagement for Your Project Success

Epicflow Blog

The success of any project is dependent on a number of factors such as clear goals, realistic project schedule, budget, resource, risk, and uncertainty management. Proper Stakeholder Management Ensures Risk-Free Project Delivery.

2020 70

Misunderstanding Making Decisions in the Presence of Uncertainty

Herding Cats

What happens if you shift focus from "accurate estimation" to "reliably shipping by a date"? . If your project has no uncertainty, there is no need to estimate. The risk is created when we have not accounted for this natural variances in our management plan for the project. Dealing with Aleatory (irreducible) uncertainty and the resulting risk requires we have margin. An aleatory risk is expressed as a relation to a value. Papers on Risk Management.

The perils of percentage availability…

Kiron Bondale

at least 20% of the month before fiscal year end has been proven to be spent on annual performance review activities) and personal plans such as team vacation calendars to provide confidence about those estimates. Or (and this is the most likely case) is it that at the end of the project, if I divided Bob’s actual hours spent working on my project by the potential hours he might have worked if he had been allocated full time, it will be close to 50%?

2018 156

3 Questions That Must Be Asked at Every Project Management Meeting

Herding Cats

Of course, each of these questions and answers must be risk-adjusted since. Risk Management is Project Management for Adults - Tim Lister. And finally, since all project work operates in the presence of uncertainty, we must make estimates in order to execute the project in a Closed Loop manner. Risk-Informed Decision Making , NASA/SP-2010-576. NoEstimates Capabilities Decision Making Estimating Governance IMP/IMS Management Principles Project Management Risk

2018 35

Definition of Done

Herding Cats

Do those capabilities meet the Measures of Effectiveness needed to accomplish the mission of the system in operational units of success closely related to the achievements of the mission or operational objectives evaluated in the operational environment, under a specific set of conditions? Do those capabilities meet the Measures of Performance that characterize physical or functional attributes relating to the system operation, measured or estimated under specific conditions?

2017 38