The Lean Epic

 Notes from this article 


The article goes over several things, but applied specifically to Lean Project Management. 

Epics are used in Lean to create Minimum Viable Product (MVP), the simplest working-grade product that may be presented to the market. Epics are (as a rule of thumb) projects but have the addition of a few factors that distinguishes them. They are measured against the anticipated outcome, as opposed to the desired outcome, tracks the benefits of the project as opposed to the ROI, and is used to evaluate the decision as opposed to the follow-through of the scope. 

Epics are budgeted in advance with a hard-line STOP when the budget has been hit. It is then evaluated on whether or not the project is profitable and worth pursuing. In other terms, it may be used as a litmus test for a new venture.  Below is a template where you can use to create an Epic. 











Template 

Comments

Post a Comment

Popular posts from this blog

Notes from The Five Traditional Process Groups Explained

Image
 Original article here 1 - Initiating - This is where the project is formally authorized by the sponsor, initial scope defined, and stakeholders identified. - It is important that the PM is formally authorized at this point, as PMs have a lot of accountability and little authority.  2- Planning  - PMBOK outlines 24 discrete processes involved in planning  - Significant idea is to think through the process in advance 3 - Executing  - Since the project team is important in execution of the process, it is also important that cultivating the team is as well. 4 - Monitor and Control - One way to think about monitoring and controlling is to imagine that you were driving across the country according to your plan or a roadmap. But if you got lost and you didn't have a GPS you'd stop, ask for directions and get back on track, or maybe based on new information, such as a new road that would cut hours off the trip, you'd change or update your plan. 5 - Closing  -  The project manage
Read more

XP: Card, Conversation, Confirmation - The three C's

Image
  This is a technique lifted from XP (Extreme Programming).  Card On each card is enough text that identifies a requirement. Notes of priority and cost are written on it as well. They serve as tokens for requirements and are handed to developers during implementation and returned to customers when completed. Conversation  Conversations are collectively exchanges of thought between customers and programmers. It is largely verbal, but may be communicated with supplemental examples. Confirmation Confirmation, in other words, acceptance tests, are defined at the start with the customer and shown to customer at the end of the iteration to confirm the story's completion. Note that extra documentation, while seemingly helpful, hardly "confirms" anything and cannot replace acceptance tests. 
Read more

Notes: 10 Knowledge Areas of Project Management (PMBOK 6)

Image
 Notes from here  There are 10 knowledge areas, as outlined in PMBOK 6, that are to be remembered sequentially. It is presented in logical order (with exception to Stakeholders which is tacked on at the end).  Integration: In other words, you can’t ‘do’ schedule management and ignore what the impacts of that might be on people, risk, communications, cost and the rest. Scope: Knowing what the project will deliver Schedule: all about making a detailed plan to tell everyone when the project will deliver what is in the requirements. Cost: Managing project fund Quality: Although quality varies project to project and many aren't as regimented, it is important to be aware and use appropriately Resource: Working out the resources needed to get the project done Communication: Creating a communication plan and monitoring for adjustments Risk: Covers an adequate overview of managing risks  Procurement: Depending on any purchases involved, there is a lot of contracting and negotiation Stakehol
Read more