How come TIME & COST could be fixed since the Project is Uncertain?

Exclusive forum for iZenBirdge PMI-ACP® clients
seema.sonkiya
Expert
Expert
Posts: 2565
Joined: Fri Jul 11, 2014 11:57 am

How come TIME & COST could be fixed since the Project is Uncertain?

Thu Nov 01, 2018 9:08 am

Got the following question:
How come TIME & COST could be fixed since the Project is Uncertain ? Are we talking about ITERATION CYCLE FIXED TIME & COST?
You need to take care of time to market. If time and cost are fixed it means scope is variable. Here the emphasis is what best we can deliver within available time and cost. Here we seriously think about what really matters to us and we deliver accordingly.
haseeb_12345
Posts: 6
Joined: Mon Sep 02, 2019 10:55 am

Re: How come TIME & COST could be fixed since the Project is Uncertain?

Sat Sep 26, 2020 8:18 am

Dear Miss Seema,

Can we annotate your above concept in my following scenario?

"Suppose, if we have got a budget of 1,000$ for an iteration which is of 30 days, and after delivering 100% cost, but still have more days to review product demo / close the iteration, can we close the iteration by keeping in mind that whatever has intended, it has achieved?
or, we again look at prioritized backlog, to select more use stories, to fill up the remaining bucket size or days, if we do that, we would definitely be incurring more cost than planned (fixed cost) ?

please put some light on it?
seema.sonkiya
Expert
Expert
Posts: 2565
Joined: Fri Jul 11, 2014 11:57 am

Re: How come TIME & COST could be fixed since the Project is Uncertain?

Thu Oct 01, 2020 12:16 pm

It all depends on what is important. The Product Owner decides if remaining features are critical for implementation? There is no fixed rule, we don't do things for sake of doing, if there is a value then we can complete remaining features.

The idea was if you have a limited budget, then plan things which can give the best value in this budget. Also if intended is achieved then no need to develop other things for the sake of doing.

Return to “PMI-ACP® Queries and Tips”

Who is online

Users browsing this forum: No registered users and 2 guests