High-Tech Yuga

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4 T's - Technology, Time, Teamwork, Transparency

1) Technology: Software development technologies are the tools and methods that developers use to design, develop, test, and deploy software applications. These include a wide range of software technologies, such as programming languages, frameworks and libraries, databases, and cloud computing platforms. 2) Time: A timebox is a fixed time period within which a deliverable must be produced in a project management context. It's a time management technique that involves dividing time into individual time periods, each with its own goal, duration, and deadline. Timeboxes are self-contained calendar events that can't be extended once they've started. The fundamental principle of timeboxing is that time in timeboxes can't shift, and once the time runs out, work must stop, even if the task isn't finished. 3) Teamwork: Teamwork in project management is a measure of how well a project's team works together to achieve a goal. It involves collaboration, communication, a

Capability Based Planning (CBP) in project management

Capability-based planning (CBP) is a business planning technique that helps organizations focus on activities that meet their goals and objectives. It's a business-driven process that involves planning, engineering, and delivering strategic business capabilities. CBP can help businesses allocate resources more efficiently by identifying areas that need investment and reallocating resources accordingly. It can also help organizations determine the highest priority capabilities they need to develop and related initiatives.

Residual Risks and Secondary Risks

Residual risk is the level of risk that remains after all possible measures have been taken to mitigate or eliminate a particular risk. It is the risk that an event will still occur despite the implementation of risk management controls or strategies. Residual risk example in banking: Inability to clear debt Risk of a loan applicant losing their job Guarantor's refusal or delay to pay Here are some steps organizations can take to address residual risk: Identify requirements: Determine relevant governance, risk, and compliance requirements. Evaluate controls: Assess the strengths and weaknesses of the organization's control framework. Acknowledge risks: Recognize existing risks. Define risk appetite : Determine the organization's risk tolerance level. Implement recovery strategies: Conduct recovery exercises that are realistic and rigorous. Transfer risk: Shift the potential loss from an adverse outcome to a third party, such as through purchasing insurance. Accept risk:

Bucket System project estimation

The Bucket System is an Agile estimation technique that uses predefined buckets to group tasks or user stories by size, complexity, or effort. Each bucket represents an estimate range, such as small, medium, or large. The Bucket System is a group activity that helps align the team's understanding of work effort and complexity. It's a good technique for quickly estimating a large number of items with a medium to large group of people. The effort of small, medium, or large bucket size arrived by team based on T-shirt sizing, PERT estimation or Planning Poker. Each bucket represents a level or an estimate range (e.g., small, medium, large). The team compares user stories to one another and places them into the appropriate buckets. This process is a group activity, promoting discussions and aligning the team's understanding of work complexity and effort. To use the Bucket System: Set up a row of cards, or buckets, with values in the Fibonacci sequence or other methods Pres

T-Shirt Sizing for project estimation

T-Shirt sizing is a simple yet effective technique used in Agile project management to estimate the effort or complexity of tasks. Instead of using precise numbers, teams categorize tasks into T-shirt sizes (such as Small, Medium, Large, etc.) based on their relative size or complexity. Here’s how it works: Assigning T-Shirt Sizes : Each task or user story is assigned a T-shirt size (e.g., XS, S, M, L, XL, XXL). These sizes represent a range of effort or complexity. For example: Small (S) : Quick and easy tasks. Medium (M) : Moderate effort or complexity. Large (L) : More involved tasks. Extra Large (XL) : Very complex or time-consuming tasks. Relative Estimation : T-Shirt sizing focuses on relative estimation rather than precise numbers. Team members compare tasks to each other and decide which size best fits. It allows for multidimensional thinking beyond just time estimates.

PERT Estimation Technique Explained with Examples

Introduction: Before the commencement of any project activity, accurate and meaningful time estimates are essential. Project teams must come up with quality and accurate estimation techniques to ensure successful project execution. One such proven method is the Program Evaluation and Review Technique (PERT). In this article, we’ll delve into PERT, complete with examples, to give you a clear understanding of what it entails. What is PERT? PERT, fully known as the Program Evaluation and Review Technique , was created by the US Navy in the 1950s. Initially developed for a Ballistic Missile project involving thousands of contractors, PERT has since been used in many large projects. It is a tool used to handle big projects or programs that entail a series of activities. PERT helps analyze project activities, determine their sequential arrangement, and work out the required time to complete all tasks. The critical path, often known as PERT analysis, plays a crucial role in this methodolo