Operations, Finance, and Accounting for the Development of Software

Herding Cats

A Scrum of people works very well when doing Scrum , but operations, finance, and accounting are not the same as writing software for money. A Scrum of cost accountants, planner, finance, and operations people is called Chaos. It's a Value at Risk thing in my opinion. . IT Risk Management. It's common to hear, projects are overhead, we just need to get the value to the customer as fast as possible. This seems to be a lament from agile developers.

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

Herding Cats

Calculating Value from Software Projects - Estimating is a Risk Reduction Process. The on-going discussions that Decisions can be made in the absence of estimates reminds me of this concept. .

Trending Sources

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. Risk Management is how adults manage projects - Tim Lister. A longer bibliography of Risk Management on Agile Projects. .

Tips for taking over an active project

Kiron Bondale

Make sure you take the time to understand what they expect from you from both a communications and expectation management perspective, but also gauge their willingness to support you when decisions, issues or risks have been escalated to their attention.

Making Decisions in the Presence of Uncertainty

Herding Cats

More can be found on this in Both Aleatory and Epistemic Uncertainty Create Risk. . NoEstimates Decision Making Estimating Management RiskAll project work is uncertain. This uncertainty comes in two forms - Aleatory and Epistemic.

2013 30

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. This process is the basis of all risk management. And Risk Management is How Adults Manage Projects - Tim Lister. IT Risk Management.

Misquotes of Deming

Herding Cats

The antithesis of the rogue agilist currently populating the #NoEstimates community, spending other people's money (which I doubt takes place on anything but de minimis projects) with no consideration for the principles of managerial finance. . IT Risk Management.

10 Top Tips to Make You a Successful Contractor

Arras People

You want your rates to be commercially competitive, to encourage repeat business and entice new clients, but if you price yourself too low, you risk severely undervaluing your skills and experience.

2016 80

Is Retraining an Option for Project Managers?

Arras People

For the project practitioners that want to move sector, they will often choose sectors that might be more open to them i.e., moving from finance to retail say. These include Business Analysts, PMO Managers, Heads of Departments, Portfolio Managers and specialists in areas such as Risk Managers, Quality Managers and Benefits Managers. The other day I was having a chat with a Project Manager who was considering their career options.

The Case for Project Portfolio Management

Jez Lister

What risks does the project introduce and how can these be managed? This ties up resources, delivers poor return on investment and increases organisational risk. a) Prioritises Demand balancing cost, benefit, risk, alignment & achievability. This is Risk.

2015 23

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. IT Risk Management. He looks for existing examples and just sees bad examples. . 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.

Five Immutable Principles of Project Success and Estimating

Herding Cats

All project work is probabilistic (actually statistical and probabilistic), with reducible and irreducible uncertainties that create reducible and irreducible risks to the success of the project. Risk Management is How Adults Manage Projects - Tim Lister. No risk management?

How to avoid a Project

The Lazy Project Manager

Owned by Director & CEO Alex Marson, the organisation works with large FTSE 250 clients including some of the biggest companies in the world in the Asset Management, Professional Services, Software, Automotive, Finance and Pharmaceutical industry.

2014 26

How To Take Over An Existing Project [Free Checklist]

Girl's Guide to PM

You won’t know if the risk log is sound and the resource planning sensible until you investigate. Action if the answer is No: Back to the PMO or your Finance team. Free Template: Project Risk Log Download a free project management risk log template. Consider this.

2016 128

What To Do When Your Team Doesn’t Believe The Project Schedule

Girl's Guide to PM

You’ve just got one day for budget approval,” said Claire from Finance. In turn, you may put more and more pressure on your team to speed up – risking cutting corners and delivering a low quality product that is not fit for purpose. This is an extract from Project Pain Reliever.

2016 126

Decision Making in the Presence of Uncertainty

Herding Cats

Managerial Decision Making Under Risk and Uncertainty Ari Riabacke. Herding Cats: Thoughts on Suggestions That Violate Principles of Finance, Probability, and Statistics. There's another rash of Twitter posters supporting the conjecture that decisions can be made about how to spend other people's money without estimating the impact and outcome of that decision. This is a core premise of #NoEstimates from the Original Poster. Here's a starting point to learn that simply not true .

2008 23

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. IT Risk Management.

Professionalise Project Management

The Lazy Project Manager

Owned by Director & CEO Alex Marson, the organisation works with large FTSE 250 clients including some of the biggest companies in the world in the Asset Management, Professional Services, Software, Automotive, Finance and Pharmaceutical industry.

2014 32

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

Herding Cats

The size of the “value at risk” is also the starting point for estimates. No matter the size of the project, from multi-million’s to smaller, it's actually determined by “value at risk,” and that is determine by those paying not by those consuming. So the fact we work on larger projects does not remove the principle of “value at risk.” From the business side, the final principle is Managerial Finance. Inadequate assessment of unmitigated risk exposure 4.

When to Estimate and When Estimates aren't Needed

Herding Cats

Estimates are needed to manage the risks created by these uncertainties. Those risks – reducible and irreducible – must be addressed during the decision making process as part of any management principle. As Tim Lister tells us “Risk management is how Adults manage projects.”. So if we’re going to be adults when managing projects – especially with other people’s money – we need to manage risk. IT Risk Management.

Project Management Interview Questions

Arras People

RISK: How have you managed risks on a project you have run? FINANCES: How do you start costing your projects? What activities/tasks are expected to be completed by a Project Co-ordinator in the area of planning / risks / issues / reporting, etc?

2016 64

Free project management certifications

Moira Alexander

Project Risk Assessment - a self-paced course on how to conduct risk analysis of different projects using both conceptual and practical developments in modern finance. Business Management - covers how to master the essentials of managing a successful business including accounting, finance, marketing, operations, people management, and strategy.

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. IT Risk Management. "This isn't right," "It's not even wrong." — Wolfgang Pauli said of a student's physics paper.

Add to the C-Level

The Lazy Project Manager

Managing the overall portfolio risk to the organisation. 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 12

A View from the Top

The Lazy Project Manager

Owned by Director & CEO Alex Marson, the organisation works with large FTSE 250 clients including some of the biggest companies in the world in the Asset Management, Professional Services, Software, Automotive, Finance and Pharmaceutical industry.

2014 16

Why Johnny Can't Estimate?

Herding Cats

Risk Management is How Adults Manage Projects - Tim Lister. Since all risk comes from uncertainty - reducible (Epistemic) and irreducible (Aleatory), estimating is a foundation of all we do. This would be like saying, risk management is a waste , control system engineering is a waste, thermal analysis of the computer system is a waste, assessment of the reliability, repairable, survivability - all the. Some colleagues have engineering or finance educations.

Preventing Kickbacks to Those with the Power to Purchase

Project Risk Coach

Last week, Harry and I were running, and he told me about his procurement risk blog series. Since I am a fraud prevention guy, we began discussing the risk of vendor kickbacks to those with the power to purchase. Given this risk, what can be done?

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. IT Risk Management. 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.

Know the value of your change

The Lazy Project Manager

To me, these days anyway, for the executive team to be able to view their portfolio also by project sponsor and to see who of these ‘ultimately responsible’ people are performing (and who are not, thereby putting the business strategy at risk) should be a ‘no-brainer’.

2014 17

The 20 Education Venues for Online Master of Project Management

Project-Management.pm

A student can also have the opportunity to select specialized coursework based on their career goals and interests, such as risks and IT Project Management. The online master of project management has a wide array of subjects such as human resources, time, and conflict management , scheduling, and risk analysis. The course includes: Risk Management in Project and Programs. Risk Management. Managerial Accounting and Finance for Leadership.

A collection of #NoEstimates Responses

Herding Cats

The size of the “value at risk” is also the starting point for estimates. The decision is determined by “value at risk,” and that is determine by those paying NOT by those consuming. So the fact I personally work on larger projects does not remove the principle of “value at risk.”

Accountability on a Agile Software Development in the Presence of Governance

Herding Cats

But if there is governance, one place for developers to looks as to WHY governance is needed (rather than saying it's a waste) is Essentials of Managerial Finance , Besley and Brigham. Optimize Risks - this is the of removing the impediments of cost, schedule, and technical performance.

Principle Based Management

Herding Cats

GAAP rules for finance and account. IT Risk Management. It doesn’t matter how beautiful your theory is. If it disagrees with Principles, it’s wrong. Richard Feynman. In that simple statement is the key to Principle Based Management of Other People’s money. †. 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.

2010 16

Best project management software

Binfire

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

Revisiting the Double Pendulum Problem

Herding Cats

In the same way the original posters of #NoEstimates state their case that decisions CAN be made without estimating, when in fact that violates microeconomics, managerial finance, and several other principles. IT Risk Management.

2009 26

A Wrap Up of the #NoEstimating Conjecture Analysis to Date

Herding Cats

No Estimates Mean Better Estimates? - Value at Risk means how much money and time are you willing to risk without understanding how much time and money is at risk. How to get a "D" in the Freshman Finance Class.

Operational Excellence: Your Company’s Future Depends On It

Wrike

On the one hand, you’ve got customers demanding faster turnaround times (at higher quality), and on the other hand, you have a finance team demanding better profitability (e.g. Good Is No Longer Good Enough.

Catsuits and Parachutes

The Lazy Project Manager

Owned by Director & CEO Alex Marson, the organisation works with large FTSE 250 clients including some of the biggest companies in the world in the Asset Management, Professional Services, Software, Automotive, Finance and Pharmaceutical industry.

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.

4 Fallacious Reasons to Estimate and Why Those Are Fallacious

Herding Cats

Root Cause: Failure to understand the managerial finance processes of any business seem to create to condition for this question and answer. IT Risk Management. There's a recent post titled Four Fallacious Reasons to Estimate.