Podcast on Agile Estimating

I listened to a PM Podcast where Cornelius Fichtner interviewed Mark Layton, in Episode 258 of his Podcasts. I enjoy his broadcasts; See more about the Podcasts below.  

Agile Estimation is Faster, Easier and More Accurate.. (Did not say faster than what?)

Layton contrasted Waterfall estimating* and his estimating process that he labeled Agile estimating. Layton explains that Waterfall estimating approach is a holistic view of all your requirements. You start by gathering all requirements that sound like a “good idea” and as long as it sounds “like a good idea”, they will be included in the project. Then you will guess how long it will take to complete all of those requirements. Once you establish how long it will take, you can then determine how much the project will cost.

If one of my students suggested that any idea that sounded good would be included in the project scope they would have a difficult time passing my course.

Layton went on to explain that an Agile approach is the exact opposite. You determine the maximum that can be spent and still deliver the return on investment then you complete the priority items until reach that maximum. The maximum that can be spent is what was promised the funding committee when we got approval. I wonder what was promised to get the funding approved. If you do not deliver on what is promised, is your project successful?

The Project Management Body of Knowledge describes different methods for estimating. The estimating approach depends on the profile of the project. This seems like a much better approach than defining Agile estimating against one perception of an estimating approach. A perception that is inconsistent with project management best practices.

What do you think?

·         Waterfall is a recent term originally found in Agile literature that describes a sequential design, or in this case estimating process,  in which progress is seen as becoming more detailed or flowing downhill, like a waterfall.

http://www.project-management-podcast.com/index.php/about-us

The host of The Project Management Podcast™ is Cornelius Fichtner, PMP.

Cornelius has been working as a Project Manager in his native Switzerland, in Germany and in the USA since 1990 and received his PMP credential in April 2004. He has led projects for a management consulting company, a national retailer, an internet startup company, and for one of the oldest financial service providers in the USA. His passions are Agile, project management methodologies and PMOs.

Cornelius is the 2007 Chair of the Project Management Institute Orange County Chapter. He currently lives in Silverado, California, USA with his wife and their four computers.