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. .

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.

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.

Agile Project Management Methods for Corporate IT Projects

Herding Cats

This definition for single scrum teams needs to come in contact with Corporate Governance, managerial finance, decision making in the presence of uncertainty when spending the firms money that has impacts beyond the team and their natural desire to control their own destiny.

Agile 105

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.

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

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 94

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 153

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.

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 188

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 159

A Cheat Sheet for Project Manager Knowledge Transfers


Project Governance. Project Governance. This checklist item includes reviewing the communication plan but it also includes all the governance processes to ensure the project is executing correctly. Related: Project Governance for Distributed Teams.

2018 61

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 107

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 219

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.

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 74

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.

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

Not Even Wrong

Herding Cats

So of course when we hear some theory in the project management domain that has no basis in principle, no testable evidence and is essentially a cockamamie idea violating the rules of managerial finance, microeconomics of decision making in the presence of uncertainty, and any sense of business governance of other people's money - think of Pauli and his student. "This isn't right," "It's not even wrong." — Wolfgang Pauli said of a student's physics paper.

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.

When to Estimate and When Estimates aren't Needed

Herding Cats

Question the governance of the business? Governance is about decision rights ( [link] ). But those practices are “informed” by the principles of Microeconomics, Managerial Finance, and Business Governance. Your domain may be much different than the broader domains where governance is the basis of decision making. Paul Boos has a post about estimating and makes a case for the Principles of when NOT to estimate.

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 198

Antifragile, Macro and Micro Economics and the Misuse of Terms (Again)

Herding Cats

The books of Taleb are focused on the Macroeconomics of public finance and the institutions that serve them. Government and corporations use macroeconomic models to help in formulating of economic policies and strategies. [2].

2018 56

A collection of #NoEstimates Responses

Herding Cats

From the business side, the final principle is Managerial Finance. In what governance frameworks? The question of the viability of #NoEstimates starts with a simple principles based notion.

Principle Based Management

Herding Cats

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. If the organization doesn’t buy into this governance framework, it won’t work. GAAP rules for finance and account. It doesn’t matter how beautiful your theory is.

2010 46

Insider Perspectives on Recruiting With Ronald Yoon

Project Management Hacks

There are conversations with clients in Finance, Telecom, health sector, Government, IT and engineering. In general, older technologies naturally gain less attention in the IT market and Finance which means declining in demand. How does recruiting work? What do recruiters want?

Start with Principles, Not Personal Anecdotes

Herding Cats

We can estimate the total cost, total duration, and the probability that all the Features will be delivered on the program we are working for the US Government.

2018 81

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.

2014 41

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.

COTS – Commercial off the Shelf Lifecycle Model

Jez Lister

Since then I have implemented numerous COTS Commercial off the Shelf packages in sectors such as central government, local government, law, housing and higher education. If you were to ask a group of subject matter experts (Finance, HR etc.)

2014 52

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

Herding Cats

From the business side, the final principle is Managerial Finance. These three principles Value at Risk, MicroEconomics of Decision Making, and Managerial Finance appear to be ignored by the NE advocates when they start with the conjecture that “decisions can be made with estimates,” and continue on with “estimates are a waste of developers time, they should be coding not estimating.”. In what governance frameworks are they exploring?

Releases and Deadlines in Agile

Herding Cats

This is the basis of managerial finance and decision making in the presence of uncertainty - Microeconomics of Decision Making. The Release Plan is built during the Release Management process which plans, manages, and governs release of products resulting from the development effort.

The Open Mindedness and Logical Fallacy

Herding Cats

A Pseudo-Open Minded person would say Sasquatch exists because the Federal Government is suppressing the evidence. Every once in awhile a reasonably intelligent No Estimates advocate shows up in a Twitter discussion.

2018 86

Find the Root Cause Before Assuming Your Fix Can Actually Fix Anything

Herding Cats

When we have willful ignorance of the Microeconomics of decision making, managerial finance as a governance process for managing other people's money, denial that the uncertainties of projects - aleatory and epistemic uncertainty - can be addressed without estimates the impact of those uncertainties. A burst of Tweets of No Estimates fixes these problems came across Twitter this morning. I won't repeat who they are attributed to, to protect the guilty.

Becoming a Project Manager – A Complete Guide for 2018

Paymo App

The UK government developed PRINCE2, so if you’re planning on working in the UK, you might want to give this certificate a go. Maintain full control of resources and finances. Are you preparing to become a project manager but you don’t know where to start?

2018 83

Do You Actually Need a Project Management Certification?


Degrees are awarded by universities and governments, take much longer to complete, and require students to take general education courses in addition to profession-specific ones. PRINCE2 (Projects IN Controlled Environments) is a project management methodology for which you can get a certificate, which issued by the government of UK. If you work in construction, finance, government, or healthcare - industries with a lot of bureaucracy - having a certificate is a plus.

Best project management software


Finance / budget management software (Quicken, Mint etc.). Projects in government. What is the best project management software for your team and your project? Is there a project management app that fits everybody’s requirements?

How to Estimate Any Software Problem

Herding Cats

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. Governance drives processes in Agile at Scale. Governance can be ignored or even flaunted for small self contained teams. Spending other people's money involves governance of those decisions.

“Pros” and “Cons” of the Best 65 Free Tools for Freelancers

Paymo App

Web-based financial service that provides invoicing and personal finance management to business with 1-9 employees. To stay on track with your government’s laws, you’ll need a tool to help you legally sign contracts with your clients.

2018 40

A Wrap Up of the #NoEstimating Conjecture Analysis to Date

Herding Cats

How to get a "D" in the Freshman Finance Class. Project Finance - all project is guided by managerial finance and microeconomics of decision making, whether you know it or not.

2016 65