Some teams also put a numeric value on the expected ROI of each feature in the backlog. PMI Definition: Aggregating the estimated costs of individual activities or work packages to establish a cost baselineĪgile teams assess the relative size of each item in the backlog. The cost of the project is then established as the product of team size and project duration. There would be a negotiation of scope, team composition, and release duration as everyone comes to consensus around what is possible. The team would then estimate the backlog and calculate how many iterations they expect the work to take. The product owner might approach the team with a high level backlog of features that need to make the next release. While this is true, there should always be some sort of assessment at the beginning of the project to determine what value the customer might expect at what level of investment. We discussed in the last post that agile projects typically start with time and cost as the primary constraints and float scope through the life of the project. PMI Definition: Developing an approximation of the costs of the resources needed to complete the project activities This knowledge area only includes three process, but as you might expect, we are going to put a little different spin on them and see what we can do to make them more agile. According to PMI, cost management includes the processes involved in planning, estimating, budgeting, and controlling costs so that the project can be completed within the approved budget.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |