Agile projects involve different considerations and review points for budget management. This video provides an overview of those changes and discusses how to accommodate the principles of this course to the agile environment.
- I have a difficult time communicating…with friends from Brazil who speak Portuguese…because I know a bit of Spanish.…That may sound strange,…but the languages have similar sounds…and some similar words.…My attempts to try to communicate…in my friends' native tongue cause confusion…because though they sound similar,…there are several differences.…With the emergence…of agile project management methodologies,…you might run into a bit of the same language…and communication problem I have with Portuguese.…
Managing budgets and controlling costs…in an agile environment uses some of the same language…and similar techniques, but the approach is a bit different.…Let's take a look at effective ways…to manage costs in an agile project environment.…Traditional project management focuses on building scope,…then working out the time and the funding required…to deliver that scope.…Agile methodologies take a different approach.…Scope is usually defined at a high level,…then translated into distinct pieces…of functionality called features.…
Note: This course follows the latest guidance from Project Management Institute, Inc., as outlined the PMBOK® 6 Guide.
- Recall best practices for project budgeting and estimation.
- Distinguish common estimation approaches used to build project budgets, and understand when to use them.
- Identify best practices for budget expectation management, while utilizing sound budget refinement techniques.
- Describe and explore agile project budgeting techniques.
- Review various approaches for correcting project budget overruns.
- Review sound budget reporting approaches, including how they can be used to report project status.
- Recognize the issues and changes that can put a project budget in jeopardy.