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Showing posts from June, 2023

Agile Manifesto - An Interpretation

As we know, Manifesto for Agile Software Development cites. We are uncovering better ways of developing software by doing it and helping others do it. Through this work we have come to value: Individuals and interactions over processes and tools Working software over comprehensive documentation Customer collaboration over contract negotiation Responding to change over following a plan That is, while there is value in the items on the right, we value the items on the left more. Agile techniques place a high focus on cooperation, collaboration, and excellent communication between those involved in the software development process. Although protocols and technologies are required, the emphasis is on enabling people to collaborate effectively. So people makes an impact, not the process and tools used, a simple white board is enough if we have a great team, right? Agile development approaches place a higher priority on producing functional, usable software than lengthy documentation. The f

Earned Value Management (EVM) in Project Management

Earned Value Management (EVM) is a management strategy that gives any sort of project early visibility into cost and time-related difficulties. By giving managers useful data beyond those of conventional project tracking, EVM empowers proactive management activities and speeds up wise decision-making. Using the notion of earned value, which stands for the budgeted cost of work completed, earned value analysis (EVA), assesses the progress and performance of the project and helps project managers evaluate the success of the project's cost and schedule, create performance indices, and anticipate future costs and completion dates by comparing the earned value to the projected budget. EVM utilizes three key metrics to assess project performance: Planned Value (PV) : This represents the approved budget allocated for the work scheduled to be completed by a specific date. PV serves as a benchmark for measuring progress and determining if the project is on track. Earned Value (EV) : EV ref

Costs in Project Management - Sunk Cost and Opportunity Cost

In the world of business, costs are an inevitable part of everyday operations. While minimizing costs is a key objective, it's essential to recognize that not all costs are created equal. Some costs have the potential to help organizations turn a profit, give them vital industry insights that boost profitability, foster innovation, and lead to profitability. Today let's talk about two such costs we speak about in industry, sunk cost and opportunity cost. Sunk costs are out-of-pocket expenses that can never be recovered. Businesses may need to deploy resources more efficiently and make wiser financial decisions when they understand the nature and importance of these factors. No matter what decisions or acts we make in the future, sunk costs cannot be recovered. They comprise of prior project investments, advertising, market research, installation costs, development, and extra inventory. Future choices shouldn't be influenced by these expenses, and businesses shouldn't b

Project Estimation Methods - Parametric and Analogous

Project estimation is a critical step in the software development process that involves estimating the time, cost, and resources required to finish a project successfully. Making accurate predictions and developing a sound strategy for project execution includes analyzing the data that is currently available, including project requirements and historical data from previous similar projects. The complexity and unpredictability of software development, however, provide additional difficulties for project estimation. Accurate estimation might be challenging due to unique projects and a lack of prior data. Todays let's discuss about two such estimation methods used in project management ie; Parametric and Analogous estimation. Parametric Estimation : In order to estimate project costs, duration, and effort, project managers often use the statistical technique known as parametric estimating. Through parametric estimating, deterministic estimates and probabilistic estimates of results c

Transformation - Waterfall to Agile

Nowadays, Agile adoption is highly sought after by many businesses as a way to boost productivity and quicken the delivery of products. With potential barriers including skill deficits and reluctance to cultural change, this move could be difficult. It is essential to approach the change strategically in order to overcome these difficulties. Careful preparation and execution are necessary for a successful switch from a waterfall project to agile. Accept the Agile Mindset First : Agile is a cultural revolution, not just a procedure. The Agile mindset, which emphasizes cooperation, being open to change, and continuous improvement, must be adopted by teams. The key to success is for everyone to comprehend and embrace the Agile concepts, to be patient, and to adjust to new working methods. Responsibilities and Roles to Adapt : Roles and responsibilities inside the organization must be redefined in order to make the transition to Agile. It goes beyond simply having developers and testers c

Prioritizing Techniques used in Project Management

Here are some prioritizing techniques used in project management. 1) Kano model analysis : This is a customer satisfaction framework developed by Professor Noriaki Kano that categorizes product features into five types of attributes: basic, performance, excitement, indifferent, and reverse. Basic attributes are expected by customers and their absence can lead to dissatisfaction, while performance attributes directly correlate with satisfaction when fulfilled. Excitement attributes are unexpected and innovative features that generate delight and differentiate products in the market. Indifferent attributes have little impact on satisfaction, and reverse attributes can result in dissatisfaction when present. By understanding these attribute types, businesses can prioritize their efforts, satisfy customer expectations, and make products that not only satisfy but also delight their customers. 2) Weighted prioritization : This is a decision-making technique that involves assigning relative

Shu-Ha-Ri - Learning to Mastery

Shu-Ha-Ri is a Japanese martial arts concept that has been adapted in the field of software development as a way of understanding how one progresses in mastery. The words Shu, Ha, and Ri represent three stages of progression: 1. Shu - In this stage, the individual is a beginner and follows an established set of rules or practices without deviation. The emphasis is on learning the fundamentals and developing a basic understanding of the methodology. 2. Ha - At this stage, the individual has gained a solid understanding of the methodology and can begin branching out and adapting techniques to suit their own needs. The emphasis is on experimentation and exploring new ideas. 3. Ri - In this final stage, the individual has achieved mastery and can innovate and create new techniques or practices. The emphasis is on intuition and using instinct to guide decision-making. By understanding these stages, individuals and teams can approach their work with a better understanding of their own lev

Valuable and Useful Increment is the Ultimate Goal of every Sprint

In Scrum , the accountability for creating a valuable and useful Increment every Sprint lies with the entire Scrum Team. Apart from this, each role has their own distinct responsibilities as well. The Product Owner who is the face of the customer is responsible for maximizing the product's value and acts as the connect to the stakeholders. He prioritize and manage the Product Backlog, and decides on what should be included in the Increment to ensure it has a value. He also decides the time to market for a product and also the needed MVP (Minimum Viable Product), hence we call him the value maximizer. The Scrum Master plays a vital role in the Scrum framework, with responsibilities that include facilitating Scrum events, coaching and mentoring the team, removing impediments, fostering collaboration, protecting the team from distractions, monitoring progress and reporting to stakeholders, and promoting a culture of continuous improvement. As a servant-leader (true-leader), the Scrum

Project Management - In a Nutshell

Project management is a systematic approach to planning, organizing and monitoring the execution of projects with the aim of achieving specified goals and objectives within a defined scope, timeframe and budget. This includes applying knowledge, skills, tools and techniques to effectively manage and control all aspects of a project from start to finish. The project management process can be divided into five main phases. 1. Initiation : This phase includes defining the project purpose, goals and scope, identifying stakeholders and understanding their expectations. 2. Planning : At this stage a comprehensive project plan is created. This includes defining tasks, determining required resources, estimating budgets, creating schedules, and identifying potential risks. In addition, project services are defined and communication and reporting structures are established. 3. Execution : As soon as the project plan is available, the project moves into the execution phase. This includes coordin