Turbocharging Your Estimation Process Using Data You (Probably) Already Have – Kwame
Abstract:
Good, reliable data combined with practitioner/expert experience are the cornerstones of a solid estimation process. Unfortunately, many organizations often ignore the good data part of the equation or misuse/misapply it in their estimation processes. Without good, reliable, historical data upon which to base their estimates, organizations will inevitably run into challenges delivering their project & programs on time, on budget, to the satisfaction of their stakeholders and will likely not fully realize the intended benefits.
This presentation will focus on how organizations can put in place a robust program that:
- fully automates the process of collecting data from in-flight projects/programs, completed projects/programs and estimates for new ones
- organizes this data in a relational database for easy access, analysis and manipulation
- utilizes the data in the database to generate estimates at a task, resource, phase, sprint, project, and program level in an automated way
- determines the probability that the generated estimates will actually materialize in an automated way
- uses the probability to communicate effectively communicate to executives and team members the likelihood of the estimates materializing
- based on the probability, determines how to set the appropriate contingency at a task, resource, phase, sprint, project, and program level and manage estimation risk
- benchmarks data in the database against others in the industry
While some of the concepts in this presentation are advanced, I will show ways to simplify implementation of this program using tools like spreadsheets, reporting platforms and enterprise project & portfolio (EPPM) systems. The examples in this presentation will be from real life projects, programs and portfolios.
PMI Talent Triangle: Ways of Working
PDUs: 0.75
