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. .

A Real-World Success Story: New Zealand Government Improves Project Delivery

Planview

Meeting the demands of ever-changing priorities within a government can lead to inconsistent processes, departments with limited visibility into what is being worked on, and no ability to monitor investments. The New Zealand Government Case Study.

Accountability on a Agile Software Development in the Presence of Governance

Herding Cats

So for projects that spend other people's money in the presence of uncertainty - Governance is a means to establish those shared principles. Governance is about Decision Rights. You don't need governance, a Product Roadmap, and Release Plan.

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 Project Portfolio Management agile project management Change management governance

Agile 207

Project Status Reporting – 6 Key Considerations

Project Health Check

The Project should then be reporting its status regularly to senior management via a Status Report, as part of its overarching Governance arrangement. So there you go, some basic high level considerations for Status Reporting and Governance that we’ve used.

2017 205

Quote of the Day

Herding Cats

But do this within establish governance frameworks, principles of microeconomics of decision making and managerial finance. Business Decision Making Economics Governance Management PrinciplesAdapt what is useful, reject what is useless, and add what is specifically your own.

Project Versus Product in Agile Development

Herding Cats

When you hear that they are separate, and we need to move to a product point of view, you're likely talking to a coder, that hasn't taken that Managerial Finance class in his educational institution. Agree, and focus more on discovery since in *delivery* you have 4 problems: 1.

Agile 51

Quote of the Day

Herding Cats

There are mysteries to managing in the presence of uncertainty for those who understand the principles of Risk Management of cost, schedule, and technical performance and know how to apply them using Managerial Finance, Microeconomics of Software Development, and Probabilities Decision making.

Biases in Project Management and How to Remove Them

Herding Cats

Managerial Finance - the branch of finance that concerns itself with the managerial significance of finance techniques. There is always lots of complaining about the biases introduced into managing projects and making the estimates needed to make project decisions.

An Introduction to Project Steering Groups

Girl's Guide to PM

You might use the term Project Board or Governance Committee, or something else that means a similar thing. Here’s an introduction to project steering groups as part of the governance framework so you can get yours set up and working on your project. The Governance Framework.

2018 225

Black Swans

Herding Cats

This advocate continually confuses Macroeconomics of financial markets and sovereign finance with Microeconomics of software development. NoEstimates Agile Books Decision Making Governance Management Product Management Project Management

2002 42

Improving portfolio management must be part of an agile transformation

Kiron Bondale

When we think of an agile transformation, improving portfolio management might not be high on the organization’s list of priorities. But what happens if your organization doesn’t have an effective and efficient portfolio management capability?

Agile 184

GAO Cost Estimating and Assessment Guide Applied to Agile

Herding Cats

Again, this is the basis of Managerial Finance. Agile Capabilities Decision Making Estimating Governance Management Performance-Based Project Management® Project Management Requirements Risk Root Cause Analysis SchedulingThe GAO Cost Estimating and Assessment Guide has 12 steps.

Fallacy of the Week

Herding Cats

This decision is a Managerial Finance process operating in the presence of the Microeconomics of decision making with all the uncertainties of the market, development cost and of course risk created by uncertainty. That statement violates the principles of Microeconomics, Managerial Finance, the Probability and Statistics of decision making, and common sense. Five Different Decision-Making Strategies That Don't Need Estimates. This is from a #Noestimates presentation.

The #NoEstimates Paradigm and Response

Herding Cats

When we hear a suggestion about a process that inverts the logic of normal business activities based on a governance framework - say Microeconomics of Software Development, we need to ask who benefits? Governance is about decision rights. NoEstimates Business Estimating Governance

2016 65

Biases in Project Management and How to Remove Them

Herding Cats

Managerial Finance - the branch of finance that concerns itself with the managerial significance of finance techniques. Decision Making Economics Estimating Governance Management Mathematics Performance-Based Project Management® Planning Principles Product Management Project Management Scheduling Technical Performance MeasuresThere is always lots of complaining about the biases introduced into managing projects and making the estimates needed to make project decisions.

Program Manager Job Description – Plus! Cut & Paste Example

ProjectManager.com

These courses tend to be no longer than half-a-year in duration and teach how to define, measure and sustain a planned program, while covering topics like program governance, stakeholder engagement and strategies related to managing a program of projects.

2018 206

Value, Cost and Business Decision Making

Herding Cats

So another conjecture heard from #Noestimates advocates of Focus on Value not on Cost must be assessed from the Managerial Finance point of view, informed by the market dynamics of the offering. This is an immutable principle of business managerial finance, and it must be followed if we have any hope of staying in business. In Software Value of something is totally unrelated to Cost. This is a popular fallacy in the #Noestimates advocates vocabulary.

Decisions Without Estimates?

Herding Cats

Let's look at each of these from the point of view of Managerial Finance and Economics of Decision Making the presence of Uncertainty. NoEstimates Balanced Scorecard Business Capabilities Decision Making Economics Estimating Governance Management

DDSTOP The Saga Continues

Herding Cats

We were on of the first users of eXtreme Programming, long before Scrum was around and presented that early work in 2003, " Making Agile Development Work in a Government Contracting Environment, Measuring velocity with Earned Value." .

Risk 37

The Origins of Scrum and Empirical Closed Loop Control

Herding Cats

Anyone suggesting otherwise either hasn't the knowledge of closed loop control systems or is try to sell you something that violates the principles of closed loop control, microeconomics of decision making, or managerial finance. I came across a couple of interesting tweets over the weekend.

4 Fallacious Reasons to Estimate and Why Those Are Fallacious

Herding Cats

This notion shows that governance is not considered a requirement for the business. Root Cause: Failure to understand the managerial finance processes of any business seem to create to condition for this question and answer.

Black Swans

Herding Cats

This advocate continually confuses Macroeconomics of financial markets and sovereign finance with Microeconomics of software development. NoEstimates Agile Books Decision Making Governance Management Product Management Project ManagementOne of the books used by a vocal No Estimates advocate is Black Swans by Nassim Taleb. They are not the same, the processes of decision making are not the same.

2002 28

Value, Cost and Business Decision Making

Herding Cats

So another conjecture heard from #Noestimates advocates of Focus on Value not on Cost must be assessed from the Managerial Finance point of view, informed by the market dynamics of the offering. This is an immutable principle of business managerial finance, and it must be followed if we have any hope of staying in business. In Software Value of something is totally unrelated to Cost. This is a popular fallacy in the #Noestimates advocates vocabulary.

How to Scale Your Business

ProjectManager.com

Finance: When and if you get investment, you’ll need to look at those deal structures and payment requirements. And you wanna be sure that human resources requirements that are regulated by the government are met. And then number six, finance.

2018 186

What Can a Project Manager Do Next? The Project Manager Career Ladder

Project Bliss

You need to understand risk and finances, and evaluate projects based on ROI. The Portfolio Manager may also establish portfolio governance standards and procedures for approvals, reporting and other needs.

2017 258

Project Cost Management – The Essential Things to Know and Do

Online PM Courses

But there’s little your project sponsor, your client, or their Finance Director care about more than your budget and how closely you can stick to it. The governance considerations for project cost management. The PMI’s PMBOK is weak on governance throughout.

Tax Planning for PM Contractors in 2016

Arras People

Changes to the personal finance policy and legislation will continue throughout the year, therefore it is important that you are clued up on what is to come. The government estimate that this will lead to 95% of people not paying tax on interest gained from these savings. The amount of money that the government will protect will be reduced from £85,000 to £75,000. An additional stamp duty on second homes was announced during the Government’s Autumn statement.

2016 127

How to Create a Project Assumptions List: Examples and Template Included

Project Bliss

Finances – funding to complete the project. Finances – funding to complete the project. Project will follow team governance guidelines and requirements.

2018 208

Preventing Kickbacks to Those with the Power to Purchase

Project Risk Coach

He is the author of The Little Book of Local Government Fraud Prevention and Preparation of Financial Statements & Compilation Engagements. It’s much easier to detect fraudulent payments made to the finance director, for example.

2017 265

Project Management Keywords in CVs

Arras People

Technical experience of building a Digital Portal into a secure, government, landing page is desirable and you will be able to show experience of delivering in both an Agile and PRINCE2 environment.’ We all know how ‘modern’ recruitment works in the UK. Keywords.

2016 253

Add to the C-Level

The Lazy Project Manager

They experience the company as broadly as possible with experiences in finance and in sales and in marketing and in manufacturing and even sometimes in services perhaps.

2017 155

The 5 Biggest Project Management Trends Shaping 2018

PM Basics

2018 isn’t going to be the year of breakout technology or an influx of government-hired project management professionals. Marketing, finance, and even construction are now adopting an Agile development framework. Marketing, finance, and construction have already hopped on board.

2018 52

What is a Stakeholder in Project Management?

Planio

Project sponsor: The person or group who is financing the project. This could mean partners, users, competitors, or even government groups who will be impacted by what you’re doing. If it takes a village to raise a child, then it’s safe to say it takes a whole city to run a project.

2018 176

How To Take Over An Existing Project [Free Checklist]

Girl's Guide to PM

Check #5: Governance. Is there a governance structure? For other areas of governance such as reporting and approval levels, talk to your PMO and get these in place. Action if the answer is No: Back to the PMO or your Finance team. Consider this.

2016 277

The Classic Misunderstanding between Principles, Practices, and Process

Herding Cats

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. A recent Twitter post make the false claim that.

2003 52

7 Realistic Ways to Up Your Project Budget Management Skills

Function Point

Finance & Business Operations Manager. Brittany keeps the inner workings of Function Point ticking in her role in Finance and Operations. A BA grad from UCSB, Brittany has worked in Finance with non-profits, international tourism, and government agencies.

The Case for Project Portfolio Management

Jez Lister

Project Portfolio Governance. Portfolio Management Variables: Demand, Capability (inc Finance) & Risk. Project Portfolio Management is a governance driven process that requires both knowledge of the organisation’s strategic plans, and awareness of its capabilities and limitations.

2015 56

Misquotes of Deming

Herding Cats

I spent the week speaking at the College of Performance Management conference where government and industry come together to work on the issues of cost, schedule, and technical performance management process improvement needed to increase the probability of program success.

2016 52

Digital Transformation & Artificial Intelligence: Is your Organization ready?

Digite

It is being applied to help in the improvement of performance of Government agencies, in their service levels and accountability and develop solutions focused on the well-being of Citizens.

2019 82

Principles of Cost and Schedule Estimating

Herding Cats

One notion in a governance paradigm is It's Not Your Money . Microeconomics of decision making with Managerial Finance and Behavioral Economics are all part of credible business management processes when spending other people's money.

7 Realistic Ways to Up Your Project Budget Management Skills

Function Point

Finance & Business Operations Manager. Brittany keeps the inner workings of Function Point ticking in her role in Finance and Operations. A BA grad from UCSB, Brittany has worked in Finance with non-profits, international tourism, and government agencies.

The Fallacy of Beneficial Ignorance

Herding Cats

Read the paper, discover how to reject the notion of #NoEstimates, not only by its ignorance of managerial finance, probabilistic decision making, business governance violations, but foundational mathematics.