Keep Tabs On The Real Status Of All Projects Including Agile Projects

Managing multiple projects can be a daunting task, especially when they are agile projects. With different teams working simultaneously, it becomes crucial to keep track of the real status of each project to ensure their successful completion. In this article, we will discuss the importance of tracking project progress, particularly in the context of agile projects, and provide strategies and tools that can help you keep tabs on all your projects effectively.

The Importance of Tracking Project Progress

Project managers are responsible for overseeing projects from initiation to completion. However, as projects become more complex and dynamic, keeping an eye on project progress becomes essential to identify risks, address issues promptly, and make informed decisions. By tracking the real status of projects, managers gain better visibility into their teams' work, enabling them to allocate resources efficiently, set realistic deadlines, and ensure project objectives are met.

Earned Value Management in easy steps: Keep tabs on the real status of all projects, including agile projects

by Latéfa Faïz (Kindle Edition)

4.5 out of 5

Language	:	English
File size	:	12465 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	208 pages
Lending	:	Enabled

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Challenges in Tracking Progress of Agile Projects

Agile methodology, known for its iterative and incremental approach, presents unique challenges when it comes to tracking progress. Unlike traditional project management approaches, agile teams focus on delivering valuable increments of work frequently, making it challenging for managers to monitor progress accurately. The absence of rigid timelines and the continuous incorporation of feedback during agile projects further complicate tracking efforts. Managers must employ suitable strategies and tools tailored to the agile framework to overcome these challenges.

Strategies to Keep Tabs on Agile Projects

1. Define Clear Project Goals and Metrics

To keep tabs on agile projects, it is crucial to establish clear project goals and metrics from the beginning. By clearly defining what needs to be achieved and how success will be measured, you provide a baseline against which progress can be evaluated. Moreover, setting specific metrics related to individual sprints or iterations allows you to track progress at a granular level.

2. Encourage Regular Communication and Collaboration

Effective communication and collaboration are vital for tracking progress in agile projects. Encourage team members to have regular stand-up meetings, where they can share updates, discuss challenges, and identify dependencies. This fosters transparency and keeps everyone on the same page, making it easier for managers to track progress and detect any roadblocks.

3. Utilize Agile Project Management Tools

There is a wide range of agile project management tools available that can significantly aid in tracking project progress. These tools offer features such as task management, Kanban boards, burndown charts, and real-time reporting, allowing managers to visualize project status, identify bottlenecks, and track the progress of individual tasks or user stories. Choose a tool that aligns with your team's needs and processes.

4. Implement Agile Project Metrics and KPIs

Metrics and Key Performance Indicators (KPIs) play a crucial role in tracking progress in agile projects. Identify suitable metrics to measure team performance, such as velocity, cycle time, or lead time, and track them regularly. These metrics provide valuable insights into team productivity and help identify areas for improvement. However, it is important to select metrics that align with the project's goals and avoid overwhelming the team with excessive metrics.

5. Conduct Regular Project Reviews

Regular project reviews are essential to keep tabs on project progress. Schedule frequent reviews where the project team can reflect on their work, discuss challenges faced, and propose solutions. These reviews provide an opportunity to assess the progress made, validate project direction, and make any necessary adjustments to ensure successful project delivery.

Tracking the real status of all projects, including agile projects, is crucial for successful project management. By employing effective strategies and utilizing appropriate tools, project managers can overcome the challenges associated with tracking progress in agile projects. Clear project goals, regular communication, agile project management tools, meaningful metrics, and project reviews are essential components to keep tabs on project progress. By leveraging these techniques, managers can ensure that their projects stay on track and achieve the desired outcomes.

Earned Value Management in easy steps: Keep tabs on the real status of all projects, including agile projects

by Latéfa Faïz (Kindle Edition)

4.5 out of 5

Language	:	English
File size	:	12465 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	208 pages
Lending	:	Enabled

FREE

Measuring Project Progress
What we are concerned with in project management has been defined as the Iron Triangle of: Time, Cost and Scope. Traditional project management methodology tends to focus on time and cost, as scope is fixed, isn’t it? But the way progress is typically reported is through the Gantt (or bar) chart, and in particular a tracking Gantt chart illustrates where a project currently is against the schedule. Also typically, the accounts department will produce reports on cost against budget, but this just shows what we have spent up to the last accounting period against the total budget. But this doesn’t really tell us exactly where we are in terms of progress today and where we will be at the end of the project. And that is precisely why Earned Value Management was developed.

Earned Value Management
Earned Value Management (EVM) helps us to determine the real status of a project. As well as telling us how much time and money we have spent, it also shows us how much we have achieved. Further, it tells us how much we still need to do and provides a good indication of final costs and expected completion dates of the project.

EVM builds on, and therefore supports good project management practice and underpins good corporate governance. Its can drive the cultural and organizational change key to supporting these objectives. In summary:

It provides an objective measurement of what has been achieved on a project
It enables accurate forecasting
It provides project management information in a format that is easy for all stakeholders to understand and act upon
It provides an early warning of problems, which allows the timely identification and analysis of progress and cost issues and corrective actions to be identified
It shows stakeholders whether they’re getting value for money
It enables detailed project comparisons across programs and portfolios
It can be scaled to fit projects of all sizes and complexities
It has the ability to combine measurements of scope, time and cost (the Iron Triangle) in a single integrated system
In summary EVM provides a set of metrics that will enable you to accurately report on project progress to date and to completion.

In addition, research has shown that the areas of planning and control are significantly improved by the use of EVM; and similarly, using the methodology improves both scope definition as well as the analysis of overall project performance. Finally it has shown that the use of EVM is a positive predictor of project success.

Earned Value Management in easy steps covers:

to EVM
Key Elements of EVM
EVM Project Life Cycle
EVM Planning
Using EVM
EVM Reporting
EVM Criteria
EVM Lite
Glossary of EVM Terms