- As a portfolio manager, you’re expected to size projects for approval and intake before they have sufficient definition.
- The consequences of initial sizing are felt throughout the project lifecycle.
Our Advice
Critical Insight
- Your organization lacks strong organizational memory upon which assumptions and estimates can be made.
- Definition is at a minimum not validated, untested, and is likely incomplete. It has the potential to be dangerously misleading.
Impact and Result
- Build project history and make more educated estimates – Projects usually start with a “ROM” or t-shirt size estimate, but if your estimates are consistently off, then it’s time to shift the scale.
- Plan ahead – Projects face risks; similar projects face similar risks. Provide sponsors with estimates that account for as many risks as possible, so that if something goes wrong you have a plan to make it right.
- Store and strengthen organizational memory – Each project is rich with lessons that can inform your next project to make it more effective and efficient, and ultimately help to avoid committing the same failures over and over again. Develop a process to catalogue project history and all of the failures and successes associated with those projects.
Refine Your Estimation Practices With Top-Down Allocations Research & Tools
Start here – read the Executive Brief
Read our concise Executive Brief to find out why you should improve your estimation practices, review Info-Tech’s methodology, and understand the ways we can support you in completing this project.Besides the small introduction, subscribers and consulting clients within this management domain have access to:
- Refine Your Estimation Practices With Top-Down Allocations – Phases 1-3
1. Build organizational memory to inform early estimates
Analyze your project history to identify and fill gaps in your estimation practices.
- Refine Your Estimation Practices With Top-Down Allocations – Phase 1: Build Organizational Memory to Inform Early Estimations
- PMO Organizational Memory Tool
- T-Shirt Sizing Health Check Lite
- Project Estimation Playbook
2. Develop and refine a reliable estimate with top-down allocations
Allocate time across project phases to validate and refine estimates and estimate assumptions.
- Refine Your Estimation Practices With Top-Down Allocations – Phase 2: Develop and Refine a Reliable Estimate With Top-Down Allocations
- Planning-Level Estimate Calculator
3. Implement a new estimation process
Implement a lessons learned process to provide transparency to your sponsors and confidence to your teams.
- Refine Your Estimation Practices With Top-Down Allocations – Phase 3: Implement a New Estimation Process
- Project Lessons Learned Template
Workshop: Refine Your Estimation Practices With Top-Down Allocations
Workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn't enough, we offer low-cost delivery of our project workshops. We take you through every phase of your project and ensure that you have a roadmap in place to complete your project successfully.
1 Develop the Foundations of Organizational Memory
The Purpose
Track key performance indicators on past projects to inform goals for future projects.
Key Benefits Achieved
Developed Project History List.
Refined starting estimates that can be adjusted accurately from project to project.
Activities
1.1 Build project history.
1.2 Analyze estimation capabilities.
1.3 Identify estimation goals.
Outputs
Project History List
T-Shirt Sizing Health Check
Estimate Tracking Plan
2 Define a Requirements Gathering Process
The Purpose
Outline the common attributes required to complete projects.
Identify the commonly forgotten attributes to ensure comprehensive scoping early on.
Key Benefits Achieved
Refined initial estimate based on high-level insights into work required and resources available.
Activities
2.1 Develop a list of in-scope project attributes.
2.2 Identify leadership priorities for deliverables and attributes.
2.3 Track team and skill responsibilities for attributes.
Outputs
Identified list or store of past project attributes and costs
Attribute List and Estimated Cost
Required Skills List
3 Build an Estimation Process
The Purpose
Set clear processes for tracking the health of your estimate to ensure it is always as accurate as possible.
Define check-in points to evaluate risks and challenges to the project and identify trigger conditions.
Key Benefits Achieved
An estimation process rooted in organizational memory and lessons learned.
Project estimates that are consistently reevaluated to predict and correct challenges before they can drastically affect your projects.
Activities
3.1 Determine Milestone Check-In Points.
3.2 Develop Lessons Learned Meeting Agendas.
3.3 Identify common risks and past lessons learned.
3.4 Develop contingency tracking capabilities.
Outputs
Project Lessons Learned Template
Historic Risks and Lessons Learned Master Template
Contingency Reserve and Risk Registers
4 Improve Business Alignment With Your Estimation Plan
The Purpose
Bridge the gap between death march projects and bloated and uncertain estimates by communicating expectations and assumptions clearly to your sponsors.
Key Benefits Achieved
Clear estimation criteria and assumptions aligned with business priorities.
Post-mortem discussion items crucial to improving project history knowledge for next time.
Activities
4.1 Identify leadership risk priorities.
4.2 Develop IT business alignment.
4.3 Develop hand-off procedures and milestone approval methods.
4.4 Create a list of post-mortem priorities.
Outputs
Estimation Quotation
Risk Priority Rankings
Hand-Off Procedures
Post-mortem agenda planning