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Cost Controls > Cost Controls > Flashcards

Cost Controls Flashcards

1
Q

How satisfied is the Project Team and Stakeholders? Metrics

A

Motivation

Stakeholders Happiness

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2
Q

Is the Quality aligned with the expectations? Metrics

A

Defect Count

Severity of fault

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3
Q

Are we increasing the work delivered? Metrics

A

Forecast vs Actual velocity
Sprint Burndown
Release Burnup

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4
Q

Is our effort aligned with the Business? Metrics

A

Velocity vs BVE

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5
Q

Are we constantly improving own Team Maturity? Metrics

A

Ratio of successful sprints
Focus Factor
Estimation Accuracy

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6
Q

Are we OK in terms of time and Budget? Metrics

A

Agile EVM

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7
Q

AC

A

Actual Cost

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8
Q

PV

A

Planned Value

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9
Q

EV

A

Earned Value

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10
Q

EAC

A

Estimate at complete

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11
Q

CPI

A

Cost Performance Index

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12
Q

SPI

A

Schedule Performance Index

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13
Q

EPC

A

Expected % Complete

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14
Q

APC

A

Actual % Complete

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15
Q

VAC

A

Variance at Completion

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16
Q

Planned Value Equation

A

PV = Expected % Complete * BAC

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17
Q

Earned Value Equation

A

EV = Actual % Complete * BAC

18
Q

Cost Performance Index Equation

A

CPI = Earned Value / Actual Value

19
Q

Schedule Performance Index Equation

A

SPI = Earned Value / Planned Value

20
Q

Actual Percent Complete Equation

A

Story Points Completed / Total Story Points Planned

21
Q

Earned Value Equation

A

Number of Sprints Completed / Total Sprints Planned

22
Q

BAC

A

Budget at completion

23
Q

CPI Meaning

A

CPI > 1 = Under budget
CPI = 1 = On Budget
CPI < 1 = Over Budget

24
Q

SPI Meaning

A

SPI > 1 = Ahead of Schedule
SPI = 1 = On Schedule
SPI < 1 = Behind Schedule

25
Q

ETC: Estimate to Complete Formula

A 
ETC = (1/CPI)*(BAC-EV)
ETC = (1/0.83)*(250,000-75,000) = 210,000
26
Q

EAC: Estimate at Completion

A 
EAC = ETC + AC 
EAC = 210,000 + 90,000 = 300,000
27
Q

Metric: Team Member Happiness/Motivation

A

Parameter: The Happiness of the Scrum Team Members.

Unit of Measurement: Happiness is commonly measured on a linear scale that ranges from 1-5, where 1 is very unhappy and 5 is very happy.

28
Q

Metric: Stakeholders Happiness

A

Parameter: The Happiness of the Scrum Team Members

Unit of Measurement: Happiness is commonly measured on a linear scale that ranges from 1-5, where 1 is very unhappy and 5 is very happy.

29
Q

Metric: Ratio of Successful Sprints

A

Parameter: The degree to which the team is able to meet their commitment.

Unit of Measurement: We measure the Ratio of Successful Sprints as a percentage by dividing the number of successful Sprints by the total amount of Sprints.

30
Q

Metric: Focus Factor

A

Parameter: The percentage of the team’s effort that results in finished stories.

Unit of Measurement: We measure the focus factor as a percentage by dividing the Velocity by the team’s Work Capacity.

31
Q

Metric: Estimation Accuracy

A

Parameter: The ability of teams to accurately estimate their work.

Unit of Measurement: We measure the Estimation Accuracy as a percentage by dividing the estimated amount of effort by the actual amount of effort.

32
Q

Metric: Reliability

A

Parameter: The ability of teams to meet the Story Points they committed to for a Sprint.

Unit of Measurement: The Reliability is measured as a percentage by dividing the amount of committed Story Points by the amount of earned Story Points.

33
Q

Metric: Relative Return On Investment (Relative ROI)

A

Parameter: The value of the completed work compared to the invested costs, here the amount of Story Points.

Unit of Measurement: A amount in Value points per Story Point.

34
Q

Metric: Total Business Value Earned

A

Parameter: The Total Business Value Earned is an accumulation of all the Business Value that was earned during a sprint.

Unit of Measurement: An amount in Value Points.

35
Q

Metric: End-to-End metric

A

Parameter: The amount of effort spent on specific components of the software product
.
Unit of Measurement: An amount in Value Points.

36
Q

Metric: Velocity

A

Parameter: The velocity is a relative measure of the amount of work delivered during a sprint.

Unit of Measurement: We measure the Velocity in Story Points.

37
Q

Metric: Process Efficiency

A

Parameter: The Process Efficiency shows how efficient the team members spend their time working on committed stories.

Unit of Measurement: The Process Efficiency is measured as a percentage by dividing the actual work time by the calendar time.

38
Q

Metric: Sprint Burndown

A

Parameter: The Sprint Burndown shows how much work the team has left versus the ideal amount of work remaining.

Unit of Measurement: We measure the Burndown in Story Points (or hours). Every day, the remaining amount of Story Points is updated.

39
Q

Metric: Release Burnup

A

Parameter: The Release Burnup show how much a team has left to complete a release versus the ideal amount of work remaining.

Unit of Measurement: We measure the Release Burnup in Story Points (or hours). At the end of every Sprint the Release Burnup is updated.

40
Q

Metric: Defect Count

A

Parameter: The amount of defects.

Unit of Measurement: We calculate the amount of identified bugs in the Backlog.

41
Q

Metric: Severity of Faults

A

Parameter: We measure the severity of the fixed defects.

Unit of Measurement: We divide the faults into three different categories: Minor faults, major faults and critical faults. The Scrum team itself can categorize these faults.

42
Q
  1. Are we under control in terms of time and Budget?

EV metrics provide a measure of cost productivity which does not exist in Agile.

CPI measures how much was developed for the money spent while Velocity only measures how much was developed. Cost productivity measures allow the project manager to show that he or she is managing stakeholder resources effectively even when problems with resource availability are impacting project feature development.

The approach for the Agile EVM will maintain the simplicity of the Agile process. In order to generate the performance metrics we need just a few pieces of data :

A
  1. Total number of story points planned for this release
  2. Total number of planned development weeks
  3. Total budget for the release
  4. Number of development weeks elapsed to date
  5. Number of story points completed to date
  6. Total budget spent to date

Cost Controls (2 decks)

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