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PMI-ACP > Value-driven Delivery > Flashcards

Value-driven Delivery Flashcards

1
Q

Definition of Value-driven Delivery

A
  • > Project exist to create business value
  • > PMs goal is to increase business value
  • > goal is to deliver value early in the project
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2
Q

7 Areas of Waste

A 
1->Partially done work
2->extra processes
3->extra features
4->Task switching
5->waiting
6->motion
7->defects
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3
Q

Value (ROI)

A

Value of the project - (minus) the Investment

but ROI does not say a lot about business value

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4
Q

Definition of Present Value (PV)

A

Current Value of a future sum of money given a specified rate of return

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5
Q

Future Value (FV)

A

Sum of money in the future, given a specified rate of growth

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6
Q

Net Present Value (NPV)

A

Current Value of a revenue stream over a series of time periods (High NPV is good)

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7
Q

Value Management in Projects (Definitions)

a) CPI
b) ETC
c) AC
d) BAC
e) EAC
f) TCPI

A

a) Cost Performance Index (earned value / actual costs)
b) Estimate to complete
c) Actual Costs
d) Budget at completion
e) Estimate at completion
f) To-complete Performance Index (BAC-EV)/(BAC-AC)

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8
Q

5 EVM Rules

A

a) EV is first
b) Variance means subtract (-)
c) Index means division (/)
d) Less than one is bad in an index (except for the TCPI)
e) Negative is bad in a variance

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9
Q

Other important KPI’s in Agile

A

a) Rate of progress
b) Remaining work
c) Likely completion date
d) Likely costs remaining
e) throughput / Burn rate / velocity

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10
Q

Risk in Agile

A
  • > Risk is an anti value
  • > it is a threat to the goal
  • > Must be managed iteratively
  • > Must be recorded in a risk log
  • > Features with high risk to be addressed early
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11
Q

Regulatory Compliance in Agile

A

Regulations are linked to requirements and have to be address otherwise they are a risk for the project

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12
Q

5 Customer Value Prioritization concepts

A

a) Team works on high value items first
b) Product owner is responsible for defining the business value
c) Changes in the backlog require reprioritization for value
d) The customer defines what success looks like
e) Team discuss with the customer the priority of the remaining work

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13
Q

Product Backlog Priority

A

Highest Value items first

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14
Q

MoSCoW Prioritization

A
  • > Must have
  • > Should have
  • > Could have
  • > Would like, but not this time
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15
Q

Keno Analysis

A
  • > Must-be quality = expected quality
  • > One-dimensional quality = promised quality (ok)
  • > Attractive quality = Nice to have quality
  • > indifferent quality = not relevant for me quality
  • > reverse quality = some love / some hate feature quality
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16
Q

Dot Voting / Multi Voting

A
  • > Color Stickers represent Opinion, Stakeholders, whatever to achieve some segmenting
  • > Risk, New features can’t be considered
17
Q

Monopoly Money

A

-> Stakeholder Receive Fake-Money equal an amount of the project budget to buy Features

18
Q

100-Point Method

A
  • > Each stakeholder gehts 100 Points
  • > All points have to be distributed among all the requirements
  • > Private vs. Public voting
19
Q

Requirements Prioritization Model

A
  • > Scale from 1 - 9

- > Evaluating Benefit, penalty, cost and risk of every feature

20
Q

Relative Prio Ranking

A

1-> Priority
2-> Simplest from most to least important
3-> Determination to meet budget / schedule
4-> Changes change priority
5-> Changes bump priorities from the list

21
Q

Value in Increments

A

-> Regular deployment, eg. dev stage prod and test in every stage, once things are in prod things get expensive to change

22
Q

Cost of Change

A
  • > Change is least expensive in the beginning of the Project
  • > Change is expected but can be expensive and timely
23
Q

MVP

A

-> Complete enough to be useful

24
Q

Low-Tech / High-touch Tools

A
  • > Don’t over engineer things

- > Use what is there and serves the purpose instead of something highly sophisticated

25
Q

Gulf of Evaluation

A

-> Difference between what’s said and what was understood

26
Q

Avoid Gulf of Evaluation

A
  • > Define the “definition of done”
  • > Frequent Verification and Validation of features
  • > Exploratory Testing
  • > Usability Testing
  • > Continuous integration
27
Q

Test-driven Development

A
  • > Tests are written before the code
  • > Code is developed and edited until it passes the tests
  • > Code refactored (cleaned up)
  • > Red-Green-Clean Concept
28
Q

WIP

A
  • > Work in Progress is Risk

- > Limit the amount of WIP mitigates risk and help reveal bottlenecks

29
Q

Little’s Law

A

-> The duration of a queue is proportional to its size

30
Q

RfP

A
  • > Proposal on how you would do the work and a price
  • > From buyer to the seller
  • > Customer Collaboration is important
31
Q

DSDM Contracting

A
  • > Dynamic Systems Development Method

- > Mix between RAD (Rapid Agile Development) and Waterfall

32
Q

Graduated Fixed-Price Benefit

A
  • > Variable hourly rate based on the time you deliver.

- > On time vs. earlier vs. later

33
Q

Fixed-Price Work packages

A

-> Segments of a Project are estimated and billed separately

34
Q

Examples of Verification and Validation

A
  • > Pair programming
  • > Unit testing
  • > Customer Collab.
  • > Daily Stand up’s
  • > Acceptance testing
  • > Iteration
  • > Product release
35
Q

Unit Testing

A

-> Testing the smallest testable portion of a application code

36
Q

Acceptance Test Driven Development

A
  • > Discuss
  • > Distill
  • > Develop
  • > Demo
37
Q

14 Tasks of Value Driven Delivery

A

1->Plan work incrementally;
2->Gain consensus on just in time acceptance criteria; 3->Tune process to organization team and project;
4->Release minimal viable product;
5->Work in small batches;
6->Review often;
7->Prioritize work;
8->Refactor code often;
9->Optimize environmental operational in infrastructure factors;
10->Review and checkpoint often;
11->Balance value and risk;
12->Re-prioritize to maximize value;
13->Prioritize non-functional requirements;
14->Review and improve the overall process and product.

PMI-ACP (7 decks)

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