Story List Extract and Original Budget and Timeline-Project Management Sample

QUESTION

 

By reviewing these artifacts, please put together your interpretation of the project to date:
1) Put together a client-facing narrative of the project to date. Think of what you would send to client stakeholders who aren’t in the project on a day-to-day basis but need an executive summary of the current status, how we got here, and any big upcoming issues or decision points.
2) Document 3-5 key risks of this project. What would you suggest to mitigate the risks you see?
3) Prepare a timeline / progress summary. Are we on track? When will we complete?
4) Prepare a budget summary and forecast
5) Beyond the provided data, what are three key questions you would ask (and who you would ask) to effectively take on managing this project?
6) On August 1, the client’s product owner called to let you know she was leaving the company and would be replaced temporarily by her boss, the VP of marketing, until a permanent replacement could be hired. Later that day, before your introductory call, the VP sends over the list of new features she’d like to see added to the scope. What are three key questions you ask on that call?

 

Now in iteration 9, you have joined the project and have requested some information to get some grounding on the engagement so far:
* Story list extract from the project management tool
* The original budget proposal
* The original timeline proposal

 

Story List Extract

Iteration Type Estimate Original estimate Current State Created at Accepted at Requested By
7 bug     finished, needs testing 20-Jul-16   John Thornton
8 feature 3 3 finished, needs testing 7-Jun-16   Camila Vega
8 feature 3 3 finished, needs testing 7-Jun-16   Camila Vega
8 feature 2 2 finished, needs testing 7-Jun-16   Camila Vega
8 feature 3 1 finished, needs testing 7-Jun-16   Camila Vega
8 feature 3 1 finished, needs testing 7-Jun-16   Camila Vega
6 bug     finished, needs testing 7-Jul-16   John Thornton
6 bug     finished, needs testing 12-Jul-16   Keith Abe
7 bug     finished, needs testing 19-Jul-16   John Thornton
9 feature 5 5 finished, needs testing 7-Jun-16   John Thornton
9 feature 3 3 finished, needs testing 7-Jun-16   Camila Vega
7 bug     finished, needs testing 19-Jul-16   Jose Torres
9 feature 3 3 finished, needs testing 7-Jun-16   Sarah Lindquist
9 feature 5 5 finished, needs testing 7-Jun-16   Camila Vega
9 feature 3 3 unstarted 7-Jun-16   Camila Vega
9 feature 3 3 unstarted 7-Jun-16   Camila Vega
9 feature 3 3 unstarted 7-Jun-16   Keith Abe
9 feature 3 3 unstarted 7-Jun-16   Camila Vega
9 feature 2 2 unstarted 7-Jun-16   Keith Abe
8 bug     finished, needs testing 26-Jul-16   John Thornton
8 bug     finished, needs testing 26-Jul-16   John Thornton
10 feature 5 5 unstarted 7-Jun-16   Camila Vega
10 feature 5 5 unstarted 7-Jun-16   Camila Vega
10 feature 5 5 unstarted 7-Jun-16   Camila Vega
10 feature 3 3 unstarted 7-Jun-16   Camila Vega
10 feature 3 3 unstarted 7-Jun-16   Camila Vega
10 feature 5 5 unstarted 7-Jun-16   Camila Vega
10 feature 2 2 unstarted 7-Jun-16   Camila Vega
11 feature     unstarted 7-Jun-16   Camila Vega
10 feature 2 2 unstarted 7-Jun-16   Camila Vega
11 feature     unstarted 1-Aug-16   Sarah Lindquist
11 feature     unstarted 1-Aug-16   Sarah Lindquist
11 feature     unstarted 1-Aug-16   Camila Vega
11 feature     unstarted 1-Aug-16   Camila Vega
11 feature     unstarted 1-Aug-16   Camila Vega
11 feature     unstarted 1-Aug-16   Camila Vega
11 feature     unstarted 1-Aug-16   Camila Vega
11 feature     unstarted 1-Aug-16   John Thornton
11 feature     unstarted 1-Aug-16   John Thornton
11 feature     unstarted 1-Aug-16   John Thornton
11 feature     unstarted 1-Aug-16   John Thornton

 

Original Budget

      Week start date 5-Jun 12-Jun 19-Jun 26-Jun 3-Jul 10-Jul 17-Jul 24-Jul 31-Jul 7-Aug 14-Aug 21-Aug
      Iteration 1 2 3 4 5 6 7 8 9 10 11 12
                               
  Name Role   Expected Hours                      
1 Camila Vega Analyst   10 10 10 10 10 10 10 10 10 10 10 10
2 Sarah Lindquist Tech lead Developer   34 34 34 34 34 34 34 34 34 34 34 34
3 Peter Saville Developer   34 34 34 34 34 34 34 34 34 34 34 34
                               
      Rate                        
1 Camila Vega Project Manager $205 $2,050 $2,050 $2,050 $2,050 $2,050 $2,050 $2,050 $2,050 $2,050 $2,050 $2,050 $2,050
2 Sarah Lindquist Developer $175 $5,950 $5,950 $5,950 $5,950 $5,950 $5,950 $5,950 $5,950 $5,950 $5,950 $5,950 $5,950
3 Peter Saville Developer $175 $5,950 $5,950 $5,950 $5,950 $5,950 $5,950 $5,950 $5,950 $5,950 $5,950 $5,950 $5,950
                               
      Anticipated Weekly Spend $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950
      Anticipated Project Totals $13,950 $27,900 $41,850 $55,800 $69,750 $83,700 $97,650 $111,600 $125,550 $139,500 $153,450 $167,400

 

Original Timeline and Plan

                           
  Iteration 1 2 3 4 5 6 7 8 9 10 11 12
  Devs 2 2 2 2 2 2 2 2 2 2 2 2
  Assumed velocity (points /dev/week) 8 8 8 8 8 8 8 8 8 8 8 8
  Team Velocity 16 16 16 16 16 16 16 16 16 16 16 16
                           
  Capacity: 16 32 48 64 80 96 112 128 144 160 176 192
                           
  Original Scope (in points) 152 152 152 152 152 152 152 152 152 152 152 152

Assume: 2 devs, full time, with 8 points per dev per week velocity

Assume: 10 weeks of active development to compelte original scope

=CONCATENATE(“Assume $”,$’Original Budget’.N15/1000,”k total budget”)

 

 

ANSWER

 

Narrative

After going through the entire project I can tell that the project is in good shape and is ready to complete it on time as we already completed till iterations 8 in timely manner and is about tos tart iteration 9. The only worrisome factor is the increase in actual costs compared to budgeted costs which might get control through proper budgetary and project control for next 4 weeks. We are expecting project will get closed in time with sligh increase in cost by around 5% of the estimation taken.

 

Risk

Some of the major risks which this project might face and mitigation strategies associated with it are as follows:
a) Costs Risk: This is the risk associated with increase in costs due to chang ein per hour costs of the resources managing the projects. It can be mitigated by signing long term contract with the resouce i.e. same rate till the project get completed.

b) Delay Risks: This is the risk aasociated with project due to increase in timeline i.e. project will take more time than what it is anticipated previously.It can be mitigated by following proper project management tools to track all milestones get completed in time or not.

c) Scope Change Risks: This is the risk which arises as client asks change in scope i.e. clients want some modifications than what it tell previously. It can be mitigated by making client awares about the projects from the very beginning so that project will be done similar to what clients want.

 

Timeline

From the story extracts, it is clear that project has already completed till iterations 8 at the beginning of week 9. It is also accepted by the client. At the same time week 9 iterations has also started which means project is ahead of schedule and we are expecting it to be completed by week 11 if there i sno change in scope of 152 capacities.

 

Budget and Summary Forecast

The analysis using above table cleraly shows that actual cost exceeds the budgeted cost by 4%. We assume that for coming 4 weeks, the budget will remain same as estimated initially for our forecast and then also our costs will exceed the budget by 4%.

 

Key Question Asked

1) Why actuals exceed the budgets?

2) Why there is no proper budget control to control costs?

3) What measure are we taking to control the budgets?

d) Is it possible for us to go with estimated costs for next 8 weeks?

 

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