LPM Lesson 3 - Realizing Portfolio Vision through Epics Flashcards
Defining Portfolio Epics Estimating Epic Costs SAFe Lean Startup Cycle
What is a Portfolio Epic?
Signification Solution development initiative that is typically cross-cutting, spanning multiple Value Streams.
Epics are containers of work used to achieve Portfolio-level initiatives.
What are the 2 types of Portfolio Epics?
Business Epic & Enabler Epic
What defines a Business Epic?
Directly delivers business value
What defines an Enabler Epic?
Support the Architectural Runway and future business functionality
What are the 4 components needed for a Portfolio Epic?
- Lean Business Case
- Definition of MVP
- Epic Owner
- Approval by LPM
Ture/False - Epics are another term for Projects.
False. Epics are not Projects.
Who implements a Portfolio Epic?
ARTs
True/False - All Portfolio Epics must be split into Program/Solution Epics for implementation.
False. Some may be split into Program/Solution Epics while others may split directly into Features.
What role is responsible for coordinating Epics through the Portfolio Kanban system?
Epic Owner
True/False - The Epic Owner should know everything about the Epic they are coordinating.
False. Epic Owner should collaborate with Business Owners, Product/Solution management, System Architects/Engineers, and Agile Teams.
What artifact is used to initially describe an Epic?
Epic Hypothesis Statement
What are the 4 major fields of an Epic Hypothesis Statement?
- Value Statement
- Business Outcomes Hypothesis
- Leading Indicators
- NFRs
Define a SAFe MVP
Early version of a new product, service or Solution that requires the minimum investment necessary to validate the Epic hypothesis.
What are the 2 questions posed in Innovation Accounting?
- Is our work achieving the desired outcome?
2. How do we know?
Define Leading Indicators.
Actionable metrics that measure early results and are good predictors of future business outcomes.
True/False - Innovation Accounting focuses on output-oriented metrics, such as # features/delivered, program velocity, or # bugs resolved
False. These are metrics of work completed, not value delivered.
True/False - Epic financial estimates include both Internal and External costs.
True.
What tool is used to estimate Epic cost estimates?
T-shirt sizing.
True/False - There should be a single enterprise-wide definition of T-shirt sizes.
False. Each Portfolio should create its own relevant cost ranges for the t-shirt sizes.
What are the 2 costs identified in a Lean Business Case?
- MVP Cost
2. Full implementation cost
What is purchased in an Agile Contract?
Capacity (not solution/product) - as measured by Agile teams, committed with a fixed cost per PI.
What are the 4 buyer’s responsibilities in an agile contract?
- Participate in SAFe training
- Commit to the availability of key stakeholders
- Define Program Objectives & Strategic Themes
- Provide NFRs
What are the 3 supplier’s responsibilities in an agile contract?
- Deliver the solution that meets buyer’s needs using SAFe
- Define preliminary estimates and feasibility based on info provided by buyer
- Establish resource availability and commit to providing qualified stable Agile Teams
What are the 7 shared responsibilities in an agile contract?
- Establish initial Solution Vision & Roadmap
- Define fixed and variable Solution Intent
- Establish the parameters of the solution’s Economic Framework
- Establish responsibilities and contract boundaries
- Commit to mutual collaboration and transparency
- Create and prioritize the backlog for the first PI
- Clearly define MVP
What is the key to the Lean Startup Cycle?
Customer feedback
True/False - A pivot means to stop work and move on to a new epic.
False. A pivot doesn’t necessarily mean stop; a pivot means you may have another hypothesis worthy of testing.
What is created if a pivot is warrented?
A new Epic
