Value Driven Delivery

Question 1

100 point voting

Answer 1

everyone has 100 points across all requirement features.

Question 2

Acceptance test-driven development

Answer 2

ATDD
Has the entire team develop tests before code - ATDD addresses 3 perspectives and their respective questions

Customer: What problem are we trying to solve
Dev Team: How will we solve this problem
Tets Team: What about this hypothetical scenario

Question 3

Actual cost

Answer 3

The actual amount of monies the project has spent so far

Question 4

Continuous integration

Answer 4

CI
Is a way to merge all the code from different developers to confirm that the compiled code is still working successfully. CI aims to build and test the code several times a day from a shared repository

Question 5

Cost performance index

Answer 5

CPI measures the project based on its financial performance. The formula is earned value divided by actual cost (EV/AC). The closer to 1, the better the project is performing financially

Question 6

Cost variance

Answer 6

The earned value of the project minus the actual cost spent reveals the cost variance. The formula is EV-AC

Question 7

Cumulative flow diagram

Answer 7

CFD
Helps identify and track bottlenecks in an agile project. CFD shows how many work items are in the different stages of th eprject, how long each item stays in a stage or queue, when items move into the next queue of the project and when items leave any stage of the project.

Question 8

Earned value

Answer 8

EV
This formula measures the amount of work completed to date and authorized budget for that work. Earned value is the percent complete times the project budget.

Question 9

Estimate at completion (EAC)

Answer 9

This formula predicts where the project is likely to end up financially based on current performance. The formula is EAC=budget at completion (BAC)/Cost performance index (CPI)

Question 10

Estimate to complete (ETC)

Answer 10

ETC shows how much more money will be needed to complete the project. The most common ETC formula is budget at completion (BAC)-(EV) earned value

Question 11

Estimate to complete based on atypical variances

Answer 11

This formula is used when the project has experienced some unusual fluctuations in costs and the project manager doesn’t believe the variances will continue. The formula is ETC=BAC-EV

Question 12

Estimate to complete based on typical variances

Answer 12

This formula is used when the project has experienced some unusual fluctuations in costs and the project manager believe the variances will continue. The formula is ETC=(BAC-EV)/CPI

Question 13

Fixed price work package

Answer 13

This agile approach to contracting enables the vendor to examine each work package and estimate their costs and time to deliver the item. As more information becomes available, such as detailed requirements, risks, and shifting priorities, the vendor can modify their estimate based on the new information. This approach allows the vendor to take on a portion of the project and manage that portion as they see fit - as long as they deliver value on time and as promised

Question 14

Future value (FV)

Answer 14

FV=PV(1+i)^n

i is the interest rate and n is the number of time periods (years,quarters, etc)

Question 15

Graduated fixed-price contract

Answer 15

A graduated fixed price contract allows the buyer and seller to share some risks in an agile project. With this model the hourly rate of the contract value varies on performance within the project. For example - the vendor rate could be 120 if finished on time and planned, 110 if done ahead of schedule and 130 if finished behind schedule

Question 16

Incremental development

Answer 16

By working in increments the development team addresses the most valuable requirements first, incorporates risk management into the project approach, and offers reviews and continued prioritization of the requirements

Question 17

Incremental project

Answer 17

An incremental project delivers value in increments - short pieces of functional deliverables that the business can take advantage of while the project is still in motion

Question 18

Intangible business value

Answer 18

This is derived from the invisible elements that a project creates, such as goodwill, reputation, brand recognition, public benefit, trademarks and strategic alignment for your organization.

Question 19

Iterative project

Answer 19

An iterative project repeats iterations until the project is done. Each iteration builds on the iteration before all the way through the entire project life cycle.

Question 20

Kanban board

Answer 20

Requirements on sticky note cards are moved from the backlog to the different project phases.

Question 21

Kano analysis

Answer 21

This is an approach to sort customer requirements into five categories: must-be quality, one-dimensional quality, attractive quality, indifferent quality, and reverse quality.

Question 22

Key performance indicators (KPI)

Answer 22

KPIs are factors that show project performance. Agile uses 4 KPIS, rate of progress, remaining work, completion date, and costs remaining

Question 23

Little’s law

Answer 23

Theorem that states the more items that are in the WIP queue, the longer it will take the team to complete the items in the queue.

Question 24

Low-tech/high-touch tools

Answer 24

Tools for project management are not technology based, they’re preferred because they are simple, clean, and direct like agile itself. Examples are Kanban boards and WIP limit.

Question 25

Minimal viable product (MVP)

Answer 25

MVP is the smallest thing you can build that delivers value to the customer. You may also see it referred to as MMF - minimal marketable features.

Question 26

Monopoly money

Answer 26

Let participants vote with monopoly money. They spend pretend money on requirements.

Question 27

Net present value (NPV)

Answer 27

The calculation of the time value of money predicts a projects value more precisely than the present value formula. NPV evaluates the monies returned on a project for each period the project lasts and considers the investment into the project

Question 28

Payback period

Answer 28

The duration it will take for the return on the investment to equal or pay back the project investment. This approach shows the management horizon or the breakeven point of the project.

Question 29

Planned value

Answer 29

PV - planned value represents the percent of project completion the project should be at this time. Planned value is found by finding the percentage of planned completion times the budget at completion.

Question 30

Present value

Answer 30

PV is what a future amount of funds is worth today. The formula for present value is PV=FV/(1+i)^n
i is interest
n is the number of time periods

Question 31

Requirements prioritization model

Answer 31

In this model, stakeholders vote on four factors of each proposed requirements on a scale of 1 to 9. The four factors voted on are benefit, penalty, cost, and risk.

Question 32

Risk

Answer 32

Risk is an agile-value in agile projects. In an agile project, risk is anything that threatens the success of the project and must be addressed sooner rather than later.

Question 33

Schedule performance index (SPI)

Answer 33

Measures the project based on its schedule performance. The formula is earned value divided by planned value. The closer to 1, the more on schedule the project is performing.

Question 34

Schedule variance

Answer 34

This is determined by calculating the earned value of the project minus the planned value of the project. EV-PV.

Question 35

Tangible business value

Answer 35

Tangible business value are derived from items like monetary assets, return on investment, stockholder equity, fixtures and tools your project creates or acquires, and the market share your project captures.

Question 36

Task board

Answer 36

This board, like a kanban board, represents the project tasks and their status. Task board more closely associated with Scrum and shows the status of the requirements in the sprint backlog.

Question 37

Test-driven development

Answer 37

Developers write tests before writing the code. They write codes that will pass the test. Once the code passes, the developers refactor the code and try the test once more.

Question 38

Theory of contraints

Answer 38

Theory posits that there’s always at least one constraint that is holding back the system from reaching its maximum potential. You attack the constraint that is most restrictive until it’s no longer the most restrictive constraint and then repeat the process with the next most restrictive constraint.

Question 39

Usability testing

Answer 39

An approach that observes participants using the software. The participants try to complete certain tasks in the software while the project team or a few developers watch, listen, and take notes.

Question 40

WIP limit

Answer 40

You should set a limit to the number of items that are a work in progress.