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LPM > LPM Lesson 3 - Realizing Portfolio Vision through Epics > Flashcards

LPM Lesson 3 - Realizing Portfolio Vision through Epics Flashcards

Defining Portfolio Epics Estimating Epic Costs SAFe Lean Startup Cycle

1
Q

What is a Portfolio Epic?

A

Signification Solution development initiative that is typically cross-cutting, spanning multiple Value Streams.

Epics are containers of work used to achieve Portfolio-level initiatives.

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2
Q

What are the 2 types of Portfolio Epics?

A

Business Epic & Enabler Epic

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3
Q

What defines a Business Epic?

A

Directly delivers business value

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4
Q

What defines an Enabler Epic?

A

Support the Architectural Runway and future business functionality

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5
Q

What are the 4 components needed for a Portfolio Epic?

A
  1. Lean Business Case
  2. Definition of MVP
  3. Epic Owner
  4. Approval by LPM
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6
Q

Ture/False - Epics are another term for Projects.

A

False. Epics are not Projects.

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7
Q

Who implements a Portfolio Epic?

A

ARTs

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8
Q

True/False - All Portfolio Epics must be split into Program/Solution Epics for implementation.

A

False. Some may be split into Program/Solution Epics while others may split directly into Features.

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9
Q

What role is responsible for coordinating Epics through the Portfolio Kanban system?

A

Epic Owner

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10
Q

True/False - The Epic Owner should know everything about the Epic they are coordinating.

A

False. Epic Owner should collaborate with Business Owners, Product/Solution management, System Architects/Engineers, and Agile Teams.

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11
Q

What artifact is used to initially describe an Epic?

A

Epic Hypothesis Statement

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12
Q

What are the 4 major fields of an Epic Hypothesis Statement?

A
  1. Value Statement
  2. Business Outcomes Hypothesis
  3. Leading Indicators
  4. NFRs
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13
Q

Define a SAFe MVP

A

Early version of a new product, service or Solution that requires the minimum investment necessary to validate the Epic hypothesis.

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14
Q

What are the 2 questions posed in Innovation Accounting?

A
  1. Is our work achieving the desired outcome?

2. How do we know?

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15
Q

Define Leading Indicators.

A

Actionable metrics that measure early results and are good predictors of future business outcomes.

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16
Q

True/False - Innovation Accounting focuses on output-oriented metrics, such as # features/delivered, program velocity, or # bugs resolved

A

False. These are metrics of work completed, not value delivered.

17
Q

True/False - Epic financial estimates include both Internal and External costs.

A

True.

18
Q

What tool is used to estimate Epic cost estimates?

A

T-shirt sizing.

19
Q

True/False - There should be a single enterprise-wide definition of T-shirt sizes.

A

False. Each Portfolio should create its own relevant cost ranges for the t-shirt sizes.

20
Q

What are the 2 costs identified in a Lean Business Case?

A
  1. MVP Cost

2. Full implementation cost

21
Q

What is purchased in an Agile Contract?

A

Capacity (not solution/product) - as measured by Agile teams, committed with a fixed cost per PI.

22
Q

What are the 4 buyer’s responsibilities in an agile contract?

A
  1. Participate in SAFe training
  2. Commit to the availability of key stakeholders
  3. Define Program Objectives & Strategic Themes
  4. Provide NFRs
23
Q

What are the 3 supplier’s responsibilities in an agile contract?

A
  1. Deliver the solution that meets buyer’s needs using SAFe
  2. Define preliminary estimates and feasibility based on info provided by buyer
  3. Establish resource availability and commit to providing qualified stable Agile Teams
24
Q

What are the 7 shared responsibilities in an agile contract?

A
  1. Establish initial Solution Vision & Roadmap
  2. Define fixed and variable Solution Intent
  3. Establish the parameters of the solution’s Economic Framework
  4. Establish responsibilities and contract boundaries
  5. Commit to mutual collaboration and transparency
  6. Create and prioritize the backlog for the first PI
  7. Clearly define MVP
25
Q

What is the key to the Lean Startup Cycle?

A

Customer feedback

26
Q

True/False - A pivot means to stop work and move on to a new epic.

A

False. A pivot doesn’t necessarily mean stop; a pivot means you may have another hypothesis worthy of testing.

27
Q

What is created if a pivot is warrented?

A

A new Epic

LPM (7 decks)

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