Choose one estimation practice from the resources provided in module readings and review its pros and cons.

address each of the following:

· Choose one estimation practice from the resources provided in module readings and review its pros and cons.

· Consider a project from work or school that you estimated poorly before. Briefly describe the project, then identify one or two agile estimation practices that could have helped you improve the project estimate.

identify additional agile estimation practices that could have helped improve the project estimates. Explain how the practices could work with the practices already defined.

TidBIT

Estimating the time necessary to complete a project is a challenging task, whether you are estimating how long it will take you to develop a program or even just to complete an assignment for your schoolwork! Agile estimation strategies can be helpful in different types of work, and will hopefully reduce the stress that normally comes along with planning projects.

Panel 1: Person sitting at a computer. Text reads, 'Aaaa! I'm so bad at estimating how long projects will take...' Panel 2: Friend comes by, 'Don't panic. There's a simple trick for that! Take your most realistic estimate, then double it.' Person replies, 'Okay, but...' Panel 3: Friend continues, 'Now double it again. Add five minutes. Double it a third time.' Person replies, 'Okay...' Panel 4: Friend continues, '30 seconds have gone by and you've done nothing but double imaginary numbers! You're making no progress and will never finish! Panic!' Original person gets up from computer and runs yelling 'Aaaaa!'

Image Reference

Munroe, R.  Estimating time. XKCD webcomic. Retrieved from: https://xkcd.com/1658/.

Textbook:  , Chapter 7Chapter 7, Agile Estimation, provides you with knowledge about how to estimate a project scope using the agile model. The chapter outlines the differences between a typical plan-driven or waterfall estimation process and the more desirable agile estimation process. This chapter also describes agile estimation practices such as story points and burn-down charts. As you read, consider the following:

· How do waterfall and agile estimation processes differ? How do agile processes allow for more flexibility?

· How are story points determined?

· What do the burn-down and burn-up charts show?

Reading:  This short reading discusses  why and how change is “embraced” by agile teams, especially those working with the Scrum framework. This reading will help you understand the context behind the scenario in the Module Five assignment. As you read, consider the following:

· How does change work in an agile process? Why is this important?

· Who is responsible for prioritizing the requirements for a project? Who is responsible for estimating the requirements for a project?

· What are the benefits to being open to changing requirements? What are the challenges?

A   of Figure 1 from this reading is available.

Note: This reading uses the term “iteration” in a few places. In this case, consider the term a synonym for the Scrum word “Sprint”.

Reading:  This article supports the module discussion.

Choose one estimation practice from the resources provided in module readings and review its pros and cons.

Introduction

You’ve taken the first step toward choosing an estimation practice by reading the module readings. Now it’s time to review your options and choose the one that fits your needs best. In this section, we’ll walk through some of the popular estimation practices and explain why they work for different organizations. We’ll also show you how to evaluate them so that you can choose the approach that will work best for your situation.

Benchmarking

Benchmarking is a method for comparing your performance to that of other companies. You can use benchmarking to identify areas where you are performing well and areas where you need improvement.

Benchmarking involves collecting data from competitors and other companies in the same industry, then analyzing these results to determine how they compare with yours. For example, if your company has been growing faster than most companies in its industry over time, then this would be an area for improvement—you should look at ways you could improve or innovate so as not only to stay competitive but also keep up with changes in technology and customer expectations

Scenario Planning

Scenario planning is a technique that helps you to identify and prioritize the risks in your project. It is based on the principle that stakeholders are more likely to buy-in on projects they believe will have a positive impact, rather than those that simply reduce costs or increase profits.

To create scenario plans, you must first define what it would mean for each stakeholder group (for example: customers) if something went wrong with your product during its development phase. Then craft possible scenarios for how these outcomes could unfold based on past experience (e.g., what if we get stuck making changes to our software code because of an unexpected bug?). From there, select one or two key risks and add more details about them so everyone understands why this risk matters—and why it’s worth taking action now instead of waiting until later when things might already be too late!

Activity-Based Costing

Activity-based costing (ABC) is a method of assigning overhead costs to products and services based on the activities that cause them.

ABC assigns overhead costs to products and services based on the activities that cause them. For example, if you have an activity called “receiving materials”, then this would be assigned as an expense because it causes other expenses such as manufacturing or shipping.

ABC allows companies to better understand their business processes by breaking down their expenses into smaller chunks so they can see where money is spent most frequently within their organization.

Future State Estimation

Future State Estimation

This is a method of estimating the future behavior of a system. It assumes that you have a model for your system and can predict how it will behave in the future. For example: if you have an idea for a new product, then you need to consider what kind of problems could arise from this product being released on the market. You may need to deal with bugs, or customer complaints about features that don’t work as expected; therefore, having an idea of these potential issues beforehand will help prevent them from happening later on down the line (or at all). In addition, if there are any other factors affecting how well sales go—such as how many competitors there are in your market space—then knowing this information could help inform decisions about which direction things should go so they don’t end up costing too much money in terms of lost sales opportunities due to poor planning/management practices.”

Choose one estimation practice from the resources provided in module readings and review its pros and cons.

  • Choose one estimation practice from the resources provided in module readings and review its pros and cons.
  • Review pros and cons of the practice you choose.
  • Explain how the practice you chose is relevant to your project

Conclusion

I hope you’ve found this review useful and that it will help you choose which estimation practice is best for your team. If you have any questions, feel free to reach out!

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