Herding Cats

DECEMBER 30, 2017

One of the 4 summary root causes of project performance failures is Unrealistic Cost and Schedule Estimates based on inadequate risk-adjusted growth models. One notion in a governance paradigm is It's Not Your Money . If you have no uncertainty, then estimates provide no value. This can only be ignored on de minimus projects.

Estimate 61

Estimate Governance Government Risk Management 61

The Lazy Project Manager

FEBRUARY 18, 2020

Project Businesses need to govern their business activities in the same way traditional industries have. and became Microsoft’s ERP offering, now called Dynamics 365 Finance & Operations. More specifically, they need to be able to control their business processes to optimize business performance.

Retail 344

Retail Manufacturing 2002 Construction 344

Leading Agile

FEBRUARY 5, 2024

Today, we’re exploring what it looks like to transform the way your company finances itself in a new, agile world. But you can’t just wave a magic wand and expect the finance team to forget everything they know and start trusting that you’ll deliver what you say you’re going to deliver based on just a wink and a handshake.

Finance 75

Finance Governance Government 2025 75

Inloox

JANUARY 14, 2021

In some cases the difference between actual and estimated numbers was up to 40 percent. As a result, a large proportion of privately financed projects went bankrupt after the study. Especially in the case of government-financed large-scale projects, the pressure from outside is enormous. But who is to blame?

Construction 164

Construction Sustainability Finance 2015 164

Rebel’s Guide to PM

AUGUST 29, 2021

Monitoring the project’s finances and cost throughout the project lifecycle is a key responsibility. Poor estimating. Sometimes the estimates are just rubbish. More and more, estimating is getting harder (in my opinion). Sometimes the estimates are wrong; other times something else happens to disrupt your estimate.

Risk 320

Risk Technical Review Risk Management Estimate 320

Rebel’s Guide to PM

JULY 18, 2023

Here are some examples of lessons learned on my projects: We should engage Finance earlier so leasing arrangements can be made in a timely fashion. And the Government Accountability Office does the same function in the USA. You can’t find the notes because they’ve been archived. So what can you do differently?

PMO 322

PMO Software Review Initiating Finance 322

Herding Cats

NOVEMBER 22, 2017

Paul Boos has a post about estimating and makes a case for the Principles of when NOT to estimate. This struck a cord around a bigger topic - the inversion of estimating. When should we NOT estimate? Then on to the original conjecture for No Estimates from Paul's post. That is, to make decision with “No estimates”.

Estimate 34

Estimate Governance Government Risk Management 34

Kiron Bondale

SEPTEMBER 4, 2017

This makes it impossible to accurately estimate capacity during iteration planning and usually contributes to a team missing their iteration commitments resulting in delivery delays. Instead of having a dedicated team of primary roles for a project, most team members will be multitasking between multiple projects.

Agile 153

Agile Governance Government Finance 153

ProjectManager.com

OCTOBER 18, 2022

There’s a timeline and planned hours, too, to estimate how long the work will take. This governing document also sets the pricing for the work contracted. You can’t complete a project if you don’t have the money to finance the manufacturing. Work Order Template. Project Budget Template.

Manufacturing 326

Manufacturing Software Review Risk Management Underperforming Technical Team 326

Henny Portman

OCTOBER 18, 2020

It starts with a discussion about the need for realistic estimates and assumptions, and clear project plans for mitigating know risks to make the right decisions. The next part is about project optimism bias and its effect to inaccurately estimate time and cost requirements. The whitepaper is divided into four parts. Conclusion.

Estimate 82

Estimate Finance Governance Government 82

Herding Cats

MAY 23, 2016

The on-going discussions that Decisions can be made in the absence of estimates reminds me of this concept. . So the decision to estimate or not estimate rarely belongs to the developers spending the business's money. Calculating Value from Software Projects - Estimating is a Risk Reduction Process. Related articles.

Finance 31

Finance Governance Government Estimate 31

Herding Cats

JUNE 18, 2017

Can you make a decision without an estimate? There are NO means of making a credible decision in the presence of uncertainty without estimating the outcome of that decision. Let's look at each of these from the point of view of Managerial Finance and Economics of Decision Making the presence of Uncertainty. First a principle.

Estimate 37

Estimate Risk Management Finance Risk 37

Planview

JANUARY 2, 2020

Even in organizations where teams were already practicing Agile, it was common for senior leadership to favor the more traditional portfolio management due to their comfort with detailed project plans and heavier governance. Agile teams are largely self-governing. Read the Lean Portfolio Management: Lean-Agile Governance Blog.

2019 103

2019 Agile Lean Governance 103

Herding Cats

AUGUST 27, 2017

There's a recent post titled Four Fallacious Reasons to Estimate. It lists the usual suspects for why those spending the money think they don't have to estimate how much they plan to spend when they'll be done producing the value they've been assigned to produce for that expenditure. Let's look at each one in more detail.

Estimate 46

Estimate Software Review Underperforming Technical Team Technical Review 46

Project Bliss

FEBRUARY 21, 2018

Budget – estimated cost of the project. Finances – funding to complete the project. Budget – estimated cost of the project. Finances – funding to complete the project. Project will follow team governance guidelines and requirements. Categories. Delivery – what’s intended to be delivered.

Technical Review 208

Technical Review Software Review Finance Monitoring 208

Herding Cats

MAY 8, 2016

ways to make decisions with No Estimates. can we make a decision in the presence of Uncertainty without making an estimate of the impact or outcome of that decision? What would be the evidence that we could make decisions in the presence of uncertanty without estimating the impacts and outcomes of those decisions? . Start here.

Estimate 28

Estimate Underperforming Technical Team Software Governance 28

Planio

APRIL 22, 2024

According to some estimates , PMs spend 90% of their time communicating with team members, sponsors, and stakeholders. He asks colleagues in finance to review and provide additional inputs and context where required. Project managers are born communicators.

Executing 88

Executing Fractional CTO Technical Review CTO Hire 88

nTask

MAY 5, 2021

Such analysis is used in project management, in business, finance, government, and even for non-profit projects. Usually, costs are easy to estimate and quantify. You need to determine if your benefits outweigh the costs you have estimated. Calculate your total costs and then your total benefits.

Risk Management 136

Risk Management Estimate Risk Finance 136

TrustRadius Project Management

OCTOBER 27, 2022

You can also take a look at Enlyft’s list of ERPs and their estimated market shares here. Estimating the time your team will actually spend on the software can be a helpful number to weigh against the price tag. You need to estimate the total cost of ownership (TCO) and how much you think the return on investment (ROI) will be.

Software Review 62

Software Review Software Technical Review Artificial Inteligence 62

TrustRadius Project Management

OCTOBER 27, 2022

You can also take a look at Enlyft’s list of ERPs and their estimated market shares here. . Estimating the time your team will actually spend on the software can be a helpful number to weigh against the price tag. You need to estimate the total cost of ownership (TCO) and how much you think the return on investment (ROI) will be.

Software Review 62

Software Review Software Technical Review Artificial Inteligence 62

Herding Cats

JULY 16, 2017

The GAO Cost Estimating and Assessment Guide has 12 steps. Again, this is the basis of Managerial Finance. These describe the increasing maturity of the project's artifacts. There are not specific to Agile Software Development. But here's how they are connected. Capture All Activities.

Estimate 35

Estimate Agile Cadence Risk Management 35

Planview

JANUARY 8, 2019

Forward-thinking organizations incorporate business processes for governance and decision-making, particularly regarding which investments should be made during the strategic planning process and ongoing checkpoints. This becomes unrealistic if the plan is disconnected from Finance and operations.

Executing 60

Executing Finance Governance Government 60

Function Point

NOVEMBER 23, 2017

To improve your time estimates, break projects down into individual tasks (ie. wireframing the website, content mapping the website, copywriting the website, and so on), and estimate the time needed for each item. Finance & Business Operations Manager. Ensure your Creatives Track Time. Download the Fact Sheet.

Budget 74

Budget Finance Estimate Governance 74

Productivity Land

MARCH 21, 2023

It is estimated that the data science market in the US will reach $116 billion by 2027 from an estimated $31 billion in 2019. The market is also being driven by the increasing demand for data-driven solutions in various industries, such as healthcare, finance, retail, and manufacturing.

Artificial Inteligence 66

Artificial Inteligence 2027 2019 Certification 66

Herding Cats

APRIL 26, 2016

They started with “Estimates are a waste, stop doing them.” Those advocates also started with the notion that estimates are a waste for the developers. The size of the “value at risk” is also the starting point for estimates. Next comes an original post from Woody – “you can make decisions with No Estimates.”

Estimate 28

Estimate Finance Risk Management Governance 28

Herding Cats

NOVEMBER 21, 2018

This, of course, is a violation of the principles of Managerial Finance and Microeconomics of software development in the presence of uncertainty and scarce resources. Since each of these elements operates in the presences of reducible (Epistemic) and irreducible (Aleatory) uncertainties, estimates are needed to make any credible decisions.

Software Developers 60

Software Developers Software Development Software Finance 60

nTask

SEPTEMBER 2, 2021

Track billable and non-billable hours for cost estimating. Generates accurate project quotes, forecasting, estimation, and scope. International Financial Reporting Standards make finance management easier. Optimize the utilization of your resources with resourcing insights, scheduling, governance, and skills matching.

2021 78

2021 Software Review Retail Finance 78

Wrike

JUNE 11, 2023

These frameworks involve the use of statistical techniques, probability theory, and mathematical formulas to estimate the likelihood and impact of risks, calculate expected values, and determine risk exposure. It provides a set of control objectives, best practices, and management guidelines for effective risk management and IT governance.

Risk Management 36

Risk Management Risk Underperforming Technical Team Technical Review 36

Planio

MAY 8, 2023

In fact, the digital transformation market was estimated at a whopping $731.1 By the end of the planning phase, you’ll have a detailed project and risk management plan and establish a governance structure between you, your team, and your sponsor. Real world example: Georgia puts good governance in place to help her monitor the project.

Technical Review 78

Technical Review Software Review Development Team Review Infrastructure 78

Herding Cats

SEPTEMBER 24, 2017

Those that objected to the early XP approaches were right to criticize the lack of governance and actionable outcomes. Since we and I was one of them, saw XP as essentially hacking in the absence of those governance processes. The criticism of #NoEstimates is simple.

2003 56

2003 Process Governance Government 56

Bridge the Gap Consulting

APRIL 18, 2023

If you’re doing T&E and/or training of staff, understand how those expenses should be estimated and tracked. This answers the question of “So, what’s the PMO gonna actually do?” ” You could easily go down a rabbit hole here, but don’t. Keep it high level. That’s good info to know! Operations?

PMO 52

PMO Executing Finance Risk Management 52

Bridge the Gap Consulting

MARCH 11, 2021

” These were labeled as 1,000 hours or more of estimated effort and/or $10,000 of total cost. Once the projects were in the right bucket, there were only three KPI’s the exec and governance teams wanted to see; Schedule, Budget, and Personnel Availability. Value Proposition. Give It Away For Free.

Planning 52

Planning PMO Governance Government 52

Function Point

NOVEMBER 23, 2017

To improve your time estimates, break projects down into individual tasks (ie. wireframing the website, content mapping the website, copywriting the website, and so on), and estimate the time needed for each item. Finance & Business Operations Manager. Ensure your Creatives Track Time. Download the Fact Sheet.

Budget 40

Budget Finance Estimate Governance 40

Herding Cats

JANUARY 22, 2018

Five Different Decision-Making Strategies That Don't Need Estimates. How can you know what is strategic without estimating the strategic value to those paying? How can you know what is strategic without estimating the strategic value to those paying? No Estimate needed. This is from a #Noestimates presentation.

Estimate 37

Estimate Finance Risk Management Manufacturing 37

Herding Cats

SEPTEMBER 12, 2017

Most business departments have a set of standard operating procedures or guidelines that govern how we should respond to standard and even some not-so-standard occurrences we face throughout our workday. It starts with the organization and the governance practices and framework for that organization. GAAP rules for finance and account.

2010 34

2010 Governance Government Estimate 34

Herding Cats

MARCH 21, 2016

A burst of Tweets of No Estimates fixes these problems came across Twitter this morning. But here's a core concept that is totally missing from not only the No Estimates conjecture, but from most every discussion, where a solution is proposed before the problem has been actually defined. Are Estimates Really The Smell of Dysfunction?

Estimate 43

Estimate Finance Manufacturing Governance 43

Herding Cats

OCTOBER 11, 2017

Why Guessing is not Estimating and Estimating is not Guessing. Related articles. Architecture -Center ERP Systems in the Manufacturing Domain. Architecture -Center ERP Systems in the Manufacturing Domain. IT Risk Management. Herding Cats: Quote of the Day - #NoEstimates is a Fallacy.

Finance 35

Finance Manufacturing Governance Government 35