Digital Transformation Journey in Finance

Epicflow Blog

are the questions arising in the mind of those who haven’t initiated this process in their company yet. When we talk about digitization, we mean the process of putting analog data into a code that can be easily processed by a computer. Artificial Intelligence in Finance.

Digital Transformation Journey in Finance

Epicflow Blog

are the questions arising in the mind of those who haven’t initiated this process in their company yet. When we talk about digitization, we mean the process of putting analog data into a code that can be easily processed by a computer. Artificial Intelligence in Finance.

Project Management Processes & Phases

ProjectManager.com

If so, it might be time to start implementing proven project management processes and phases at your organization in order to bring your company’s workflow under control. The project plan will include what resources are needed, financing and materials.

Software Estimating Resources

Herding Cats

This blog page is dedicated to the resources used to estimate software-intensive systems using traditional and agile development methods. COSMIC Software Estimation Approach,” Alain Abran, ICEAA Workshop, Portland Oregon, June 6?9, Estimating Probable System Cost,” Stephen A.

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. If you have no uncertainty, then estimates provide no value. Herding Cats: Basis of Estimating Software Development.

Why Johnny Can't Estimate?

Herding Cats

Since all risk comes from uncertainty - reducible (Epistemic) and irreducible (Aleatory), estimating is a foundation of all we do. There is no discussion of the conjecture that estimates are a waste, estimates can't be done, estimates are evil, estimates must be stopped immediately. To be informed how to estimate in this broad range of domains, problems, and impacts - education, exp[erience, and skill are needed. Gow to avoid common estimating mistakes.

Why Johnny Can't Estimate? (Update)

Herding Cats

There is a discussion of the conjecture that estimates are a waste, estimates can't be done, estimates are evil, estimates must be stopped immediately. To be informed how to estimate in this broad range of domains, problems, and impacts — education, experience, and skill are needed. Some colleagues have engineering or finance educations. Through this education process and the hands-on experiences that followed, we all learned an Immutable Principle.

Operations, Finance, and Accounting for the Development of Software

Herding Cats

When us young pups arrived to move the development processes into the next century (minicomputers, high-level languages, integrated development environments) from the previous generation of punching holes in pieces of paper - either card stock or rolls of paper tape - we thought we were clearly superior to those of the past generation and were proud to tell anyone who wold listen how we had a lock on what to do best. The notion that process and overhead are a waste is true in some sense.

Why Johnny Still Cannot Estimate

Herding Cats

He doesn't know how - He doesn't understand how estimates fit into the process of business and managerial finance of product or service development. He doesn't understand why estimates are needed - He doesn't understand the impact on the business for not knowing how long, how much, and what will be produced for the time and money. Coding work is much more fun than making estimates, documenting the requirements, writing tests. NoEstimates Estimating

When to Estimate and When Estimates aren't Needed

Herding Cats

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? What business decision making conditions could be in place where we don't have to estimate the outcomes of our decision in the presence of uncertainty? Then on to the original conjecture for No Estimates from Paul's post. Not principles for NOT estimating.

Thoughts on Suggestions That Violate Principles of Finance, Probability, and Statistics

Herding Cats

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. How to Estimate Any Software Problem.

4 Fallacious Reasons to Estimate and Why Those Are Fallacious

Herding Cats

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.

How to Estimate Any Software Problem

Herding Cats

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? Let's put aside for the moment the missing principles of managerial finance, probabilistic decision making, microeconomics of decision making, Real Options, Bayesian decision networks, and other decision making processes used in modern business when spending other people's money. An estimate is.

GAO Cost Estimating and Assessment Guide Applied to Agile

Herding Cats

The GAO Cost Estimating and Assessment Guide has 12 steps. Again, this is the basis of Managerial Finance. Risk Management has 6 processes, see SEI Continuous Risk Management. Maintain the Baseline with Repeatable Processes.

The Ontological Fallacy of No Estimates

Herding Cats

We can make decisions in the presence of uncertainty without estimating the outcome of that decision on our probability of success. Any criticism of the NO Estimates statement is met with being blocked from the discussion. The introduction to the #NoEstimates paradigm started with .

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. This is basic managerial finance when spending other people’s money. Since software development usually operated in the presence of uncertainty, an estimate of the cost and benefit of the change needs to be made.

The Classic Misunderstanding between Principles, Practices, and Process

Herding Cats

I've since lost my handbook issued at TRW for the Software Development Lifecycle processes used on the programs we worked, but the loop approach of plan, do, study, act was at the basis of that method. A recent Twitter post make the false claim that.

2003 60

How to Speed up Your Project Management Process with 5 SaaS Applications

Paymo App

Project management process bottlenecks. The 3 main things I have so far noticed about project management processes: The more detailed the planned steps, the less likely they will be realized. Let’s look at how GDrive can fit into your project management process.

Book of the Month - IT Project Estimation: A Practical Guide to the Costing of Software

Herding Cats

Estimating is part of all decision making in the presence of uncertainty. Accuracy and precision are two primary attributes of all estimates. We all know estimates are hard. So why is estimating a topic that seems to be the whipping boy for software developers these days?

2016 39

How Do You Create a Strategic Plan? An Overview of the Strategic Planning Process

Teamweek

One of its most robust features is its timeline management tool, which can create the schedule needed to get the strategic planning process started. Finances: All projects need money to acquire the first two resources.

Can You Make a Decision in Presence of Uncertainty Without Estimating?

Herding Cats

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. If the project is small (de minimis) meaning if we over run significantly no one cares, then estimating is likely a waste as well. Next comes an original post from Woody – “you can make decisions with No Estimates.”

2016 40

Six Steps of Risk Management

Herding Cats

Performance quantitative risk analysis - numerically estimates the effects of risk on project objectives. In the presence of these uncertainties, estimates must be made of all aspects of the risk management process. NoEstimates Estimating Principles Risk

Risk 60

Cost and Value Management for Software Development

Herding Cats

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. Software Project Cost Estimation . The result is the basis of an immutable business decision making process.

2018 64

Quote of the Day

Herding Cats

Finance is a pure information processing game. Managerial Finance and Microeconomics of decision making in the presence of uncertainty is the foundation of project management processes. NoEstimates Estimating Quotes

How to Fund a Software Development Project

ProjectManager.com

What you need instead is advice on what process decisions you should consider, what your options are, and what the associated trade-offs are. Related: Mastering the Decision-Making Process: A Practical Guide. The Secure Funding Process Goal.

2019 363

DDSTOP The Saga Continues

Herding Cats

The result was a safety stand down for everyone on the site (5,000 Steel Works), including all us office workers, to get the message about health, safety, and safeguards of the materials and processes on site. . 40 - Estimation is a Problematic Practice of Companies Doing Dangerous Things.

DDSTOP The Saga Continues

Herding Cats

The result was a safety stand down for everyone on the site (5,000 Steel Works), including all us office workers, to get the message about health, safety, and safeguards of the materials and processes on site. . maybe a read of the resources of Estimating Agile Software Development may help.

The #NoEstimates Paradigm and Response

Herding Cats

This is a good starting point for answering the mail on the notion that decisions can be made in the presence of uncertainty without estimating the impact of those decisions. But his conjecture starts with estimates are a waste , not saying for whom they are a waste for.

2016 64

Project Management of Product Development

Herding Cats

This, of course, is based on the lack of knowledge of Managerial Finance, Systems Engineering and Product Development principles and processes. The Systems Engineering of Products and the management of the processes that produce those products are tightly connected.

Biases in Project Management and How to Remove Them

Herding Cats

There is always lots of complaining about the biases introduced into managing projects and making the estimates needed to make project decisions. Because of that, we don't separate the thinking processes into a dual-system. A process based on tangible evidentiary materials. .

Start with Principles, Not Personal Anecdotes

Herding Cats

I've seen estimates abused by bad managers, so let's NOT estimate and that will fix the behavior of Bad Managers." The "bad management" is itself a symptom of untrained, inexperienced, unskilled decision making processes in the presence of uncertainty. .

2003 50

A Reminder of the Pseudo-Science of #NoEstimates

Herding Cats

That is, ways to make decisions with "No Estimates". How would you assess a decision in the presence of uncertainty without making an estimate of the outcome of that decision. Nothing is going to change in any attribute, process, or people doing the work. When you hear.

2016 61

DDSTOP The Saga Continues

Herding Cats

The result was a safety stand down for everyone on the site (5,000 Steel Works), including all us office workers, to get the message about health, safety, and safeguards of the materials and processes on site. . And, my customer is equally as clueless about the need to estimate as I am.

Project Versus Product in Agile Development

Herding Cats

When an agile advocate says, software development is a product, not a project, and provides all the reasons why the thought process needs to switch from project to products, they may be unfamiliar with how many businesses actually work.

Agile 50

A Wrap Up of the #NoEstimating Conjecture Analysis to Date

Herding Cats

The conjecture that we can make decisions in the presence of uncertainty without estimating the impacts of those decisions is without any principles that can be tested beyond personal anecdotes of I know people who spend other peoples money without providing estimates. Estimating

2016 46

Fallacy of the Week

Herding Cats

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? In the presence of uncertainty, these means making estimates of both the intangible assets and the tangible outcomes. No Estimate needed. Then you'll need to estimate the Value, the Cost to produce that Value, the Time when that Value is needed. Herding Cats: Principles of Cost and Schedule Estimating.

Impacts of traditional project funding models on agile delivery

Kiron Bondale

A key enterprise partner is the Finance department and the organization’s model for project funding will have significant influence over successful agile delivery.

Agile 199

The Origins of Scrum and Empirical Closed Loop Control

Herding Cats

Scrum is) more defined rather than empirical process. So when we hear anything about the current state of Agile or even that Scrum is NOT empirical and needs to be replaced, ask what new process is being suggested that will meet Dr. Carter's definition?

Making Decisions in the Presence of Uncertainty

Herding Cats

Here's a collection of papers that has served me well in defining the processes needed to make decisions in the presence of uncertainty when managing projects using other people's money: " Beyond project decisions. NoEstimates Decision Making Estimating Management Risk

2016 51

10 Knowledge Areas of Project Management (PMBOK 6) With PPT & PDF

Girl's Guide to PM

PMI defines a Knowledge Area in the PMBOK® Guide – Sixth Edition Glossary like this: An identified area of project management defined by its knowledge requirements and described in terms of its component processes, practices, inputs, outputs, tools, and techniques.

2019 409