Agile Project Budgeting

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PMBOK > Forum > Agile Project Budgeting

Agile Project Budgeting
Hong Sun, Management Consultant, Canada, Premium Member
THE PROBLEM WITH TRADITIONAL PROJECT BUDGETING Traditional project budgeting uses a bottom-up approach that requires a forecast of all involved tasks for the entire project development process and estimates of their corresponding costs and durations, all in the pre-project phase. In today’s fast-paced business world where changes represent the norm and few things are predictable, this approach has resulted in ineffective project budgets. AGILE PROJECT BUDGETING Agile project budgeting is created by combining both a top-down approach and a bottom up approach. A top-down approach is applied by management to set up a budget pocket for each group of projects (i.e. a project category) for a fixed period of time (such as 3 months or 6 months). A bottom-up approach is applied by project teams to detail tasks in their projects for fairly short time boxes (such as 2 weeks per iteration and 2 months per increments) when realistic cost and schedule estimates are possible. As long as the bud (...) Read more? Sign up for free

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  The Precision Alignment Approach for Calculating the Budget of an Agile Project
Hong Sun, Management Consultant, Canada, Premium Member
  (...) 7-5-2020

   
Special Interest Group Leader
Jean-Michel de Jaeger, EMBA, PMP
Management Consultant

PMBOK
Summary
Forum
Agile Project Budgeting
🔥Gold Plating in Project Management
PMBOK Edition 6: What's New?
Best Practices
🥇PMBOK <> PMBOK Guide
🥈Who Initiates and Plans a Project?
🥉I am a project, my life is a program
Project Budgeting Best Practices
Task Reminder Tool / Task Reminder Software
What are the Common Reasons Why IT Projects Fail?
Is the 2013 Version of PMBOK V5 a Real Improvement?
Looking for Internet Collaboration Project Software
Why Projects are Risky?
Shortfall in the PMBOK Framework
When Used for Software Development
Why Project Risk Management?
Why use Project Management Software?
9 Knowledge Areas in PMBOK
PMO in Human Resources
What is Project Lifecycle?
Life Cycle Costing Analysis
Presenting Lessons Learnt
The 3 Processes to Manage the Quality of Projects
Project Management Knowledge Standard(s)
The Meaning of 'Scope' in Project Management
Managing Organization Culture


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