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PORTFOLIO
MANAGEMENT
2
RICK AUSTIN
ABOUT ME …
Experience applying agile to
small teams, large
distributed teams, & change
management
Agile Project Management
Volunteer and Leader
Expert in Financial
Services Industry
Georgia State Grad
Agile Transition
Director, Program
Manager
Applications Development
Manager
Director of DevelopmentInformation Technology
Director
rick@leadingagile.com
678.743.1616
www.leadingagile.com
twitter.com/rickaustin
facebook.com/leadingagile
linkedin.com/in/rickdaustin
3
• Using portfolio management so we focus on the most valuable things
• Balancing capacity against demand
• How to support corporate governance (security, audit etc.)
WHAT ARE WE EXPLORING
4
PMI’S DEFINITION
Portfolio management ensures that an organization can leverage its project selection and
execution success. It refers to the centralized management of one or more project
portfolios to achieve strategic objectives. Our research has shown that portfolio
management is a way to bridge the gap between strategy and implementation.
DEFINE PORTFOLIO
MANAGEMENT
5
PMI’S DEFINITION
Portfolio management ensures that an organization can leverage its project selection and
execution success. It refers to the centralized management of one or more project
portfolios to achieve strategic objectives. Our research has shown that portfolio
management is a way to bridge the gap between strategy and implementation.
INVESTOPEDIA’S DEFINITION
Portfolio management is the art and science of making decisions about investment mix
and policy, matching investments to objectives, asset allocation for individuals and
institutions, and balancing risk against performance.
DEFINE PORTFOLIO
MANAGEMENT
W H A T I S A N A G I L E
W O R L D ?
7
• Defines capabilities to
build
• Small enough for the
team to develop in a
few days
• Everything and
everyone necessary
to deliver
• Meets acceptance
criteria
• No known defects
• No technical debt
WHAT DO I MEAN?
BACKLOGS TEAMS WORKING TESTED
SOFTWARE
8
• People have clarity
around what to build
• People understand
how it maps to the big
picture
• Teams can be held
accountable for
delivery
• No indeterminate
work piling up at the
end of the project
WHY ARE THEY IMPORTANT?
CLARITY ACCOUNTABILITY MEASURABLE
PROGRESS
9
• Governance is the
way we make
economic tradeoffs in
the face of
constraints
• They way we form
teams and foster
collaboration at all
levels of the
organization
• What do we measure,
how do we baseline
performance and
show improvement?
HOW DOES IT SCALE?
GOVERNANCE STRUCTURE METRICS
S T R U C T U R E
11
PROGRAM
TEAMS
PORTFOLIO
TEAMS
DELIVERY
TEAMS
G O V E R N A N C E
13
PROGRAM
TEAMS
PORTFOLIO
TEAMS
DELIVERY
TEAMS
14
PROGRAM
TEAMS
PORTFOLIO
TEAMS
DELIVERY
TEAMS
Scrum
Kanban
Kanban
M E T R I C S
16
PROGRAM
TEAMS
PORTFOLIO
TEAMS
DELIVERY
TEAMS
Scrum
Kanban
Kanban
17
Backlog Size
Velocity
Burndown
Escaped Defects
Commit %
Acceptance % Ratio
Scope Change
PROGRAM
TEAMS
PORTFOLIO
TEAMS
DELIVERY
TEAMS
Scrum
Kanban
Kanban
18
Backlog Size
Velocity
Burndown
Escaped Defects
Commit %
Acceptance % Ratio
Scope Change
PROGRAM
TEAMS
PORTFOLIO
TEAMS
DELIVERY
TEAMS
Scrum
Kanban
Kanban
Cycle Time
Features Blocked
Rework/Defects
19
Backlog Size
Velocity
Burndown
Escaped Defects
Commit %
Acceptance % Ratio
Scope Change
PROGRAM
TEAMS
PORTFOLIO
TEAMS
DELIVERY
TEAMS
Scrum
Kanban
Kanban
Cycle Time
Features Blocked
Rework/Defects
Cycle Time
Time/Cost/Scope/Value
ROI/Capitalization
G O V E R N A N C E
F L O W
21
GOVERNANCE
Governance is the method for planning, coordinating and tracking requirements. Agile
requirements are progressively elaborated from Epics, to Features and finally Stories.
A measurable goal
intended to deliver on
the intent of an
Initiative. Epics are
defined and validated
by Core Product
Teams.
A new or improved
capability of the system.
Features deliver a
package of functionality
that end users would
generally expect to get all
at once.
Stories are small
outcomes designed, built,
tested, and delivered in 3-
5 days.
Stories are elaborated
collaboratively between
Delivery and Program
Teams.
EPIC FEATURE
USER
STORY
22
PORTFOLIO MANAGEMENT
DEMAND
MANAGEMENT
DETAILED
PLANNING
EXECUTION
GOVERNANCE
STRATEGIC
ALIGNMENT
• Maximize Strategic
Alignment
• Increase
Transparency
• Organizational
focus on delivering
the most valuable
work
• Increase
predictability
• Reduce Time to ROI
• Identify and plan for
dependencies
• Balance capacity
and demand
• Reduce rework
• Improve quality
• Agree to minimal
capabilities needed
to deliver value
• Ensure credible
release planning
• Assess and guide
the progress of
value delivery
• Minimize delivery
risks
• Continually make
continue, pivot, kill,
ship decisions
MEASURE
EFFECTIVENES
S
• Revisit business
case
• Validate fitness
function for
capability
23
GOVERNANCE
PORTFOLIO
WORK INTAKE
SOLUTION
DEFINITION COMPLETED
PORTFOLIO
TEAM
PROGRA
M
TEAM
DELIVERY
TEAM
EPIC DEFINITION
(DEPENDENCIES, SIZING & RISKS)
DEMAND PLANNING &
RELEASE ROADMAP
MEASURABLE
PROGRESS
Feature |
Kanban
Story | Scrum
Epic | Kanban
RELEASE
TARGETING
IN
PROGRESS
EPIC
VALIDATION
PROGRAM
WORK INTAKE
SOLUTION
DESIGN COMPLETED
RELEASE
PLANNING
IN
PROGRESS
FEATURE
VALIDATION
FEATURE
READY
MAKE
READY
STORY
READY
STORY
ACCEPTED
IN
PROGRESS
STORY
DONE
DETAILED PLANNING
(CLARITY & VIABILITY)
EXECUTION &
ACCOUNTABILITY
PORTFOLIO
PLANNING
RELEASE
PLAN &
DEFINE
OPERATEEXECUTE
P O R T F O L I O
P L A N N I N G
25
PORTFOLIO PLANNING
Deliverables associated with each Planning level – Strategy to the
Scrum teams
DeliverablesDescription
 Strategy Statement
 Strategic Initiative budget
allocation
 Portfolio Roadmap
 Portfolio budget
allocation
 Portfolio Priorities
Portfolio Planning : 6-12 month
horizon, based on the Strategic
Initiative budget allocation and the
priority of the Programs
Release Planning: 2-6 month
horizon, Sequencing delivery of
Epics, Features, Stories based
on business priority
Sprint (Iteration) Planning: 1-4
sprint horizon, Delivery team
commitments for Stories in the
next Iteration
Strategic Planning: 12-24 month horizon,
Strategy Council provides Strategic Roadmap
derived from Group long term and short term
strategy
Task Planning: One sprint horizon,
Delivery team delineates stories into
tasks, and assigns tasks to team
members
 Epic Priorities,
 Epic and Feature
Sequencing
 Delivery Team assignment
 Task Definition
 Delivery Team member
commitment
Strategy
Portfolio
Program
Release
Iteration
Task
Program Roadmap: 2-6 month
horizon, based on the Platform
and Product budget allocation
and the business priorities
 Story Sequencing
 Delivery Team
commitment
 Program Roadmap
 Product budget
allocation
 Product Priorities
26
PORTFOLIO MANAGEMENT
EPIC BRIEF: Supports the
definition and flow of epics from new
concept until they are delivered or killed.
PORTFOLIO PLANNING
SHEET: Decisioning tool that helps
determine prioritization of the release
backlog.
EPIC ROADMAP: Roadmap of
epics into the future.
PORTFOLIO DASHBOARD:
Indicator of health of epics, risks, and
dependency impacts.
RELEASE PLANS: Credible
plan to meet release objectives.
27
PORTFOLIO MANAGEMENT
DEMAND
MANAGEMENT
DETAILED
PLANNING
EXECUTION
GOVERNANCE
STRATEGIC
ALIGNMENT
• Maximize Strategic
Alignment
• Increase
Transparency
• Organizational
focus on delivering
the most valuable
work
• Increase
predictability
• Reduce Time to ROI
• Identify and plan for
dependencies
• Balance capacity
and demand
• Reduce rework
• Improve quality
• Agree to minimal
capabilities needed
to deliver value
• Ensure credible
release planning
• Assess and guide
the progress of
value delivery
• Minimize delivery
risks
• Continually make
continue, pivot, kill,
ship decisions
MEASURE
EFFECTIVENES
S
• Revisit business
case
• Validate fitness
function for
capability
PORTFOLIO
WORK INTAKE
SOLUTION
DEFINITION
EPIC VALIDATION
RELEASE
TARGETING
IN
PROGRESS
28
STRATEGIC ALIGNMENT
PURPOSE
ACTIVITIES
OUTPUT
• Align Epics to strategy
• Intake all Epics, validate alignment to Strategic Objectives
• Ensure alignment to Business Architecture
• Defer Epics that are clearly not aligned to strategy
• Epic Brief initiated
• Strategically aligned Epics in Portfolio Backlog
29
EPIC BRIEF
Epic Owner completes
the Vision section
Epic Owner and Product
Owner team start the
Constraints section
Begin the Opportunity /
Business Case
DESCRIPTION
VISION
CONSTRAINTS
PLANNING
• Name
• Epic Owner/ Product
Manager
• Investment Theme (and
Capability if known)
• Value Statement
• Features/Benefits
• Dependencies
• Risks
• Assumptions
• Opportunity Case
30
PORTFOLIO MANAGEMENT
DEMAND
MANAGEMENT
DETAILED
PLANNING
EXECUTION
GOVERNANCE
STRATEGIC
ALIGNMENT
• Maximize Strategic
Alignment
• Increase
Transparency
• Organizational
focus on delivering
the most valuable
work
• Increase
predictability
• Reduce Time to ROI
• Identify and plan for
dependencies
• Balance capacity
and demand
• Reduce rework
• Improve quality
• Agree to minimal
capabilities needed
to deliver value
• Ensure credible
release planning
• Assess and guide
the progress of
value delivery
• Minimize delivery
risks
• Continually make
continue, pivot, kill,
ship decisions
MEASURE
EFFECTIVENES
S
• Revisit business
case
• Validate fitness
function for
capability
PORTFOLIO
WORK INTAKE
SOLUTION
DEFINITION
EPIC VALIDATION
RELEASE
TARGETING
IN
PROGRESS
31
SOLUTION DEFINITION
PURPOSE
ACTIVITIES
OUTPUT
• Validate business intent and epic viability
• (Aka Discovery)
• Validate Epic Brief Vision and Constraints
• Identify work to address risks and dependencies
• Technical Impact Assessment
• Epic Brief Vision and Constrains sections
• Program Backlog: Features, Architectural and Risk cards
• Update WSJF – More on this in a bit
32
EPIC BRIEF
Epic Owner completes
the Vision section
Epic Owner and
Product Owner team
complete the
Constraints section
Prepare the brief
Opportunity/Business
Case
DESCRIPTION
VISION
CONSTRAINTS
PLANNING
• Name
• Epic Owner/ Product
Manager
• Investment Theme (and
Capability if known)
• Value Statement
• Features/Benefits
• Personas
• Dependencies
• Risks
• Assumptions
• Opportunity Case
• Roadmap
33
PORTFOLIO MANAGEMENT
DEMAND
MANAGEMENT
DETAILED
PLANNING
EXECUTION
GOVERNANCE
STRATEGIC
ALIGNMENT
• Maximize Strategic
Alignment
• Increase
Transparency
• Organizational
focus on delivering
the most valuable
work
• Increase
predictability
• Reduce Time to ROI
• Identify and plan for
dependencies
• Balance capacity
and demand
• Reduce rework
• Improve quality
• Agree to minimal
capabilities needed
to deliver value
• Ensure credible
release planning
• Assess and guide
the progress of
value delivery
• Minimize delivery
risks
• Continually make
continue, pivot, kill,
ship decisions
MEASURE
EFFECTIVENES
S
• Revisit business
case
• Validate fitness
function for
capability
PORTFOLIO
WORK INTAKE
SOLUTION
DEFINITION
EPIC VALIDATION
RELEASE
TARGETING
IN
PROGRESS
34
RELEASE TARGETING
PURPOSE
ACTIVITIES
OUTPUT
• Identify and plan for dependencies
• Balance capacity and demand
• Ensure credible release planning
• Estimate Features
• Determine Capacity
• Plan Epics, Risks and Dependencies (Look ahead planning)
• Communicate release objectives
• Epic Roadmap revised with risks and dependencies
• Release Plans
• Portfolio Plans updated
• Portfolio Risk Dashboard updated
35
PORTFOLIO MANAGEMENT
DEMAND
MANAGEMENT
DETAILED
PLANNING
EXECUTION
GOVERNANCE
STRATEGIC
ALIGNMENT
• Maximize Strategic
Alignment
• Increase
Transparency
• Organizational
focus on delivering
the most valuable
work
• Increase
predictability
• Reduce Time to ROI
• Identify and plan for
dependencies
• Balance capacity
and demand
• Reduce rework
• Improve quality
• Agree to minimal
capabilities needed
to deliver value
• Ensure credible
release planning
• Assess and guide
the progress of
value delivery
• Minimize delivery
risks
• Continually make
continue, pivot, kill,
ship decisions
MEASURE
EFFECTIVENES
S
• Revisit business
case
• Validate fitness
function for
capability
PORTFOLIO
WORK INTAKE
SOLUTION
DEFINITION
EPIC VALIDATION
RELEASE
TARGETING
IN
PROGRESS
36
IN PROGRESS
PURPOSE
ACTIVITIES
OUTPUT
• Assess and guide the progress of value delivery
• Review Epic Health and Portfolio Dashboard
• Monitor & communicate Release Health to Stakeholders
• Continue, Change or Stop Decisions
• Epic Dashboard
• Portfolio Dashboard
• Portfolio Kanban Board
P R I O R I T I Z A T I O N
T E C H N I Q U E S
38
“If you only measure one thing, measure cost of delay”
- D. Reinertsen, The Principles of Product Development Flow
COST OF DELAY:
• The revenue that could be earned each month a project is in the market
• It is a way of communicating the impact of time on desired outcomes
COST OF DELAY
39
3 Features of a certain value with a CD3 calculation (value / duration)
Total amount of value across three features is $19,000
COMPARE FEATURES
FEATURE DURATION VALUE CD3
A 3 weeks $3000 1
B 4 weeks $7000 1.75
C 6 weeks $9000 1.5
Note: Value could be expressed as a relative number
40
No Priority – Total Cost of Delay: $247k
Shortest Job First – Total Cost of Delay: $175k
Do The Most Valuable First - Total Cost of Delay: $187k
DO BASED ON CD3 – TOTAL COST OF DELAY: $157K
PRIORITY IMPACT ON
C O S T O F D E L AY
D E M A N D
M A N A G E M E N T
42
HOW TO EXPRESS CAPACITY?
43
“CAPACITY” CAN BE EXPRESSED
AS
“TEAM MONTHS”
“TEAM SPRINTS” “There are 6.5 “Team Sprints” for Team X
remaining for FY17”
(e.g. 13 weeks / 2 weeks per sprint)
“TEAM RELEASES”
“There are 2.25 “Team Releases” for Team
X remaining for FY17”
(e.g. 13 weeks / 3 Sprints per Release)
STORY POINTS
“There are 150 Story Points available for
the remainder of the year …”
(e.g. Average velocity of 25 SPs x 6.5 Sprints remaining)
“Only 25% of the “Team Months” for Team X
remain for FY17”
(e.g. 3 months remaining of 12 months this year)
44
ALL WHICH DERIVE THEIR USE
FROM STABLE VELOCITY!
DELIVERY TEAM
…Meaningless without Stable Velocity.
“TEAM MONTHS”
“TEAM SPRINTS” “There are 6.5 “Team Sprints”
for Team X remaining for FY17”
(e.g. 13 weeks / 2 weeks per sprint)
“TEAM RELEASES” “There are 2.25 “Team
Releases” for Team X remaining
for FY17”
(e.g. 13 weeks / 3 Sprints per Release)
STORY POINTS “There are 150 Story Points
available for the remainder of the
year …”
(e.g. Average velocity of 25 SPs x 6.5 Sprints
remaining)
“Only 25% of the “Team Months”
for Team X remain for FY17”
(e.g. 3 months remaining of 12 months this year)
45
1
2
3
4
5
CAPACITY IS INVESTED
T O O B TAI N O U T C O M E S
10 MONTHS
20% ~ 10 TEAM MONTHS
35% ~ 17.5
TEAM
MONTHS
20% ~ 10
TEAM
MONTHS
25% ~
12.5
TEAM
MONTHS
Early on you can
“roadmap” out what
you’re willing to
invest capacity for
across investment
themes …
35%
25%
2O%
2O%
INVESTMENT THEMES
Program Capacity Over Next 10 Months = 50 Team Months
R O A D M A P S
47
Rolling Wave Planning, used in Agile processes, embraces the Lean ideal of making
decisions at the last responsible moment, when the most possible information is
available. This maximizes flexibility and planning accuracy.
AGILE USES ROLLING WAVE
PLANNING
48
MUST HAVE – Minimum subset of requirements that must be delivered
SHOULD HAVE – Important but not needed to have a viable solution
COULD HAVE – Desired but less important
WON’T HAVE – Things we have agreed to not deliver
MOSCOW PRIORITIZATION
49
ROLLING 12-18 MONTHS
EPIC
Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019
(ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
ROADMAP
EPIC
ROADMAP
EPIC
ROADMAP
EPIC
ROADMAP
EPIC
This is …
• A Rolling Plan for 12-18 months ahead
• A Hypothesis for how to meet the goals
• Not what you will do to meet those goals
EPIC
ROADMAP
EPIC
ROADMAP
EPIC
ROADMAP
EPIC
ROADMAP
EPIC
ROADMAP
EPIC
EPIC
EPIC
EPIC
50
MUST
HAVE
SHOULD
HAVE
COULD
HAVE
WISH TO
HAVE
WISH TO
HAVE
MUST
HAVE
SHOULD
HAVE
COULD
HAVE
WISH TO
HAVE
WISH TO
HAVE
WISH TO
HAVE
MUST
HAVE
MUST
HAVE
MUST
HAVE
APPLYING MOSCOW TO EPICS
Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019
(ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
51
Do you commit to the could have?
WHAT DO WE COMMIT TO?
MUST HAVE
FEATURES
MUST
HAVE EPIC
COULD
HAVE
EPIC
SHOULD
HAVE
EPICS
COULD
HAVE
EPIC
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST HAVE
FEATURES
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST
HAVE EPIC
WISH TO
HAVE
WISH TO
HAVE
WISH TO
HAVE
SHOULD
HAVE
EPICS
WON’T
HAVE
FEATURES
WON’T
HAVE
FEATURES
Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019
(ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
52
Do you commit to the could have?
WHAT DO WE COMMIT TO?
NO
MUST HAVE
FEATURES
MUST
HAVE EPIC
COULD
HAVE
EPIC
SHOULD
HAVE
EPICS
COULD
HAVE
EPIC
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST HAVE
FEATURES
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST
HAVE EPIC
WISH TO
HAVE
WISH TO
HAVE
WISH TO
HAVE
SHOULD
HAVE
EPICS
WON’T
HAVE
FEATURES
WON’T
HAVE
FEATURES
Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019
(ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
53
Do you commit to the wish to
have?
WHAT DO WE COMMIT TO?
MUST HAVE
FEATURES
MUST
HAVE EPIC
COULD
HAVE
EPIC
SHOULD
HAVE
EPICS
COULD
HAVE
EPIC
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST HAVE
FEATURES
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST
HAVE EPIC
WISH TO
HAVE
WISH TO
HAVE
WISH TO
HAVE
SHOULD
HAVE
EPICS
WON’T
HAVE
FEATURES
WON’T
HAVE
FEATURES
Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019
(ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
54
Do you commit to the wish to
have?
WHAT DO WE COMMIT TO?
NO
MUST HAVE
FEATURES
MUST
HAVE EPIC
COULD
HAVE
EPIC
SHOULD
HAVE
EPICS
COULD
HAVE
EPIC
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST HAVE
FEATURES
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST
HAVE EPIC
WISH TO
HAVE
WISH TO
HAVE
WISH TO
HAVE
SHOULD
HAVE
EPICS
WON’T
HAVE
FEATURES
WON’T
HAVE
FEATURES
Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019
(ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
55
Do you commit to should and
must?
WHAT DO WE COMMIT TO?
MUST HAVE
FEATURES
MUST
HAVE EPIC
COULD
HAVE
EPIC
SHOULD
HAVE
EPICS
COULD
HAVE
EPIC
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST HAVE
FEATURES
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST
HAVE EPIC
WISH TO
HAVE
WISH TO
HAVE
WISH TO
HAVE
SHOULD
HAVE
EPICS
WON’T
HAVE
FEATURES
WON’T
HAVE
FEATURES
Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019
(ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
56
Do you commit to should and
must?
WHAT DO WE COMMIT TO?
YES
MUST HAVE
FEATURES
MUST
HAVE EPIC
COULD
HAVE
EPIC
SHOULD
HAVE
EPICS
COULD
HAVE
EPIC
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST HAVE
FEATURES
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST
HAVE EPIC
WISH TO
HAVE
WISH TO
HAVE
WISH TO
HAVE
SHOULD
HAVE
EPICS
WON’T
HAVE
FEATURES
WON’T
HAVE
FEATURES
Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019
(ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
57
IF WE FINISH EARLY?
MUST HAVE
FEATURES
MUST
HAVE EPIC
SHOULD
HAVE
EPICS
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST HAVE
FEATURES
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST
HAVE EPIC
SHOULD
HAVE
EPICS
WON’T
HAVE
FEATURES
WON’T
HAVE
FEATURES
Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019
(ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
58
FINISH THE ROADMAP
MUST HAVE
FEATURES
MUST
HAVE EPIC
COULD
HAVE
EPIC
SHOULD
HAVE
EPICS
COULD
HAVE
EPIC
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST HAVE
FEATURES
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST
HAVE EPIC
WISH TO
HAVE
WISH TO
HAVE
WISH TO
HAVE
SHOULD
HAVE
EPICS
WON’T
HAVE
FEATURES
WON’T
HAVE
FEATURES
Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019
(ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
59
ADD NEW & REPRIORITIZE
MUST HAVE
FEATURES
MUST
HAVE EPIC
COULD
HAVE
EPIC
SHOULD
HAVE
EPICS
COULD
HAVE
EPIC
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST HAVE
FEATURES
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST
HAVE EPIC
WISH TO
HAVE
WISH TO
HAVE
WISH TO
HAVE
SHOULD
HAVE
EPICS
WON’T
HAVE
FEATURES
WON’T
HAVE
FEATURES
MUST
HAVE EPIC
MUST
HAVE EPIC
Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019
(ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
60
THAT’S BETTER…
MUST HAVE
FEATURES
MUST
HAVE EPIC
COULD
HAVE
EPIC
SHOULD
HAVE
EPICS
COULD
HAVE
EPIC
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST HAVE
FEATURES
SHOULD
HAVE
FEATURES
COULD
HAVE
FEATURES
MUST
HAVE EPIC
WISH TO
HAVE
WISH TO
HAVE
WISH TO
HAVE
SHOULD
HAVE
EPICS
WON’T
HAVE
FEATURES
WON’T
HAVE
FEATURES
MUST
HAVE EPIC
MUST
HAVE EPIC
Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019
(ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
D E T A I L E D
G O V E R N A N C E
62
GOVERNANCE
PORTFOLIO
WORK INTAKE
SOLUTION
DEFINITION COMPLETED
PORTFOLIO
TEAM
PROGRA
M
TEAM
DELIVERY
TEAM
EPIC DEFINITION
(DEPENDENCIES, SIZING & RISKS)
DEMAND PLANNING &
RELEASE ROADMAP
MEASURABLE
PROGRESS
Feature |
Kanban
Story | Scrum
Epic | Kanban
RELEASE
TARGETING
IN
PROGRESS
EPIC
VALIDATION
PROGRAM
WORK INTAKE
SOLUTION
DESIGN COMPLETED
RELEASE
PLANNING
IN
PROGRESS
FEATURE
VALIDATION
FEATURE
READY
MAKE
READY
STORY
READY
STORY
ACCEPTED
IN
PROGRESS
STORY
DONE
DETAILED PLANNING
(CLARITY & VIABILITY)
EXECUTION &
ACCOUNTABILITY
PORTFOLIO
PLANNING
RELEASE
PLAN &
DEFINE
OPERATEEXECUTE
63
PURPOSE
• Intake process for
Initiatives to be
considered
• Define Epics for
Initiatives
• Validate business intent
& epic viability
• Ensure credible release
planning
• Identify & plan for
dependencies
• Balance capacity & demand
• Assess and guide the
progress of value
delivery
• Validate solution
• Customer / Vendor
UAT
• Validate
Outcomes
ACTIVITIE
S
• Epic Brief initiated
• Validate Epic &
Constraints
• Identify work to address
risks and dependencies
• Product Discovery and
Product Validation
• Communicate release
objectives (MVP)
• Sufficient release planning
is captured in planning
toolset
• Determine Capacity
• Plan Risks & Dependencies
• Review Epic Health &
Portfolio Dashboard
• Monitor &
communicate Release
Health to Stakeholders
• Continue, Change or
Stop Decisions
• Determine if capabilities
provide expected
solution
• Product Discovery and
Product Validation
• User acceptance
testing
• Work with vendors or
customers for final
solution validation
• Measure
Outcomes
OUTPUTS • Epic Brief Draft
• Product Discovery and
Product Validation
validated with customers
• Epic Brief
• Cost Estimate
• Updated Business Plan –
Cost Case
• Financial Evaluation
• Technology Impact
Assessment
• Portfolio Roadmap
Updated
• Portfolio Roadmap
• Signoff - Initiative/Epic
• Portfolio Planning Sheet
• Release Plan
• Updated Risk Assessment
• Release Planning Signoff –
Initiative/Epic
• Epic Definition of Ready
Validated
• Epic Dashboard
• Portfolio Dashboard
• Product Discovery and
Product Validation –
Revalidated with
customers
• Epic Brief updated as
completed
• Operation Signoff –
Program/Epic
• UAT Approval
• Release Review
• Epic Definition of Done
validated
• Execute Signoff - Epic
• Retrospective
Analysis
RACI
(TEAM)
• R – Portfolio Team
• Program Team
• A - Portfolio Team
• C – Product
Management
• I – Delivery Team
• R – Portfolio Team
• Program Team
• A - Portfolio Team
• C – Product
Management
• I – Delivery Team
• R – Portfolio Team
• Program Team
• A - Portfolio Team
• C – Product Management
• I – Delivery Team
• R – Portfolio Team
• Program Team
• A - Portfolio Team
• C – Product
Management
• I – Delivery Team
• R – Portfolio Team
• Program Team
• A - Portfolio Team
• C – Product
Management
• I – Delivery Team
• R – Portfolio
Team
• Program Team
• A - Portfolio
Team
• C – Product
Management
• I – Delivery
Team
PORTFOLIO
WORK INTAKE
SOLUTION
DEFINITION
COMPLETEDRELEASE
TARGETING
IN
PROGRESS
EPIC
VALIDATION
Portfolio Tier
64
PURPOSE
• Intake process
for epics to be
considered
• High level solution
design
• Validate solution
viability
• Elaborate stories
from features
• Identify risks &
dependencies
• Features are ready
for development
• Credible plan exists
• MMF identified
• Assess and guide
the progress of
value delivery
• All features and
stories are done for
the epic
• Features in
production
ACTIVITIES
• Creation of initial
epic for
Investment
Decision by the
Portfolio Team
• Technology
Assessment
• Identify solution
options
• Identify work to
address risks and
dependencies
• Story mapping
• Estimate Features
and Stories
• Plan Risks &
Dependencies
• Define Test Plans
• Validate MMF for
initiative
• Make release
commitment
• Estimate Features
• Estimate Stories
• Review Epic Health
& Portfolio
Dashboard
• Monitor &
communicate
Release Health to
Stakeholders
• Continue, Change or
Stop Decisions
• Deployment to QA
environments
• Acceptance testing by
IVT
• Socialization of
capabilities
• Final defect
remediation
• NFR Validation
• Operational
handoff
• Warranty support
• Update portfolio
metrics
OUTPUTS
• Feature
Definition
initiated
• OOM Estimates
(if available)
• Program Backlog:
Features Definition
• Architecture Impact
Assessment
• Risk and
Dependency
Assessment
• Test Strategy
Defined
• Feature Estimates
• UX Design
• High Level Design
• Initial Release Plan
• Updated risk and
dependency lists
• Spikes identified
• Stories Named
• System Test Plan
• Integration Test Plan
• Regression Test
Plan
• Solution Design
Package
• Feature backlog
• items prioritized
• Feature backlog
• items sequenced
across teams
• Spikes planned
• Release Defined
• UAT Plan Defined
• Feature Definition of
Ready Validated
• Feature Dashboard
• Epic Dashboard
• Portfolio Dashboard
• Feature approval
• Updated
documentation
• Traceability Matrix
• System Test Approval
• Integration Test
Approval
• Regression tests
Approval
• NFR Testing Approval
• Disaster Recovery
Plan Updated
• Support Manual
Updated
• Service/Operational
Level Agreement
• Feature Definition of
Done validated
• Features released
• Release criteria
met
• No high severity
defects
RACI
• R – Program
Team, Delivery
Team
• A - Program
Team
• C - Delivery
Team
• I – Portfolio
Team
• R – Program Team,
Delivery Team
• A - Program Team
• C - Delivery Team
• I – Portfolio Team
• R – Program Team,
Delivery Team
• A - Program Team
• C - Delivery Team
• I – Portfolio Team
• R – Program Team,
Delivery Team
• A - Program Team
• C - Delivery Team
• I – Portfolio Team
• R – Program Team,
Delivery Team
• A - Program Team
• C - Delivery Team
• I – Portfolio Team
• R – Program Team,
Delivery Team
• A - Program Team
• C - Delivery Team
• I – Portfolio Team
• R – Program
Team, Delivery
Team
• A - Program Team
• C - Delivery Team
• I – Portfolio Team
Program Tier
PROGRAM
WORK INTAKE
SOLUTION
DESIGN COMPLETED
RELEASE
PLANNING
IN
PROGRESS
FEATURE
VALIDATION
FEATURE
READY
65
PURPOSE • Ready the backlog
• Stories ready for
delivery teams
• Work is done to
complete story / feature
• Story / feature has
been completed
• Story / feature has
been accepted
ACTIVITIES
• Create story in defined
format
• Create acceptance
criteria in the defined
format
• Provide additional
documentation as
needed
• Tie acceptance criteria
to feature acceptance
• Revise Level of Value
• Create story tasks
• Develop story
functionality
• Unit test functionality
• Code/Peer Review
• Check-in code
• Repair defects
• Story meets the
definition of done
• Product owner
approves story as
meeting acceptance
criteria.
• Bugs found for the
story have been
remediated
• Ongoing Support
• Operational Handoff
• Lessons Learned
OUTPUTS
• User Story is Defined
with Scenarios
• Acceptance Criteria is
complete
• Architecture Artifacts
• UX Design, Wireframe
Artifacts
• Story Point Estimate
• Story Definition of
Ready Validated
• Tasks Defined
• Task Hours Estimate
• Sprint Planning
• Monitor Progress on
Scrum Board
• Standup
• Story Development
• Story Unit Testing
• Story System Testing
• Story Done
• Story Definition of
Done Validated
• Story Demo
• Story Accepted in
ALM Toolset
• Operational
documentation
updated (as
needed)
• Sprint Retrospective
• Delivery Team
Metrics
RACI
• R – Delivery Team,
Program Team
• A – Delivery Team
• C – Delivery Team
• I – Program Team
• R – Delivery Team,
Program Team
• A – Delivery Team
• C – Delivery Team
• I – Program Team
• R – Delivery Team,
Program Team
• A – Delivery Team
• C – Delivery Team
• I – Program Team
• R – Delivery Team,
Program Team
• A – Delivery Team
• C – Delivery Team
• I – Program Team
• R – Delivery Team,
Program Team
• A – Delivery Team
• C – Delivery Team
• I – Program Team
Delivery Tier
MAKE
READY
STORY
READY
STORY
ACCEPTED
IN
PROGRESS
STORY
DONE
66
• Using portfolio management so we focus on the most valuable things
• Balancing capacity against demand
• How to support corporate governance (security, audit etc.)
WRAP UP
67
RICK AUSTIN
ABOUT ME …
Experience applying agile to
small teams, large
distributed teams, & change
management
Agile Project Management
Volunteer and Leader
Expert in Financial
Services Industry
Georgia State Grad
Agile Transition
Director, Program
Manager
Applications Development
Manager
Director of DevelopmentInformation Technology
Director
rick@leadingagile.com
678.743.1616
www.leadingagile.com
twitter.com/rickaustin
facebook.com/leadingagile
linkedin.com/in/rickdaustin

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Rick Austin - Portfolio mangement in an agile world [Agile DC]

  • 2. 2 RICK AUSTIN ABOUT ME … Experience applying agile to small teams, large distributed teams, & change management Agile Project Management Volunteer and Leader Expert in Financial Services Industry Georgia State Grad Agile Transition Director, Program Manager Applications Development Manager Director of DevelopmentInformation Technology Director rick@leadingagile.com 678.743.1616 www.leadingagile.com twitter.com/rickaustin facebook.com/leadingagile linkedin.com/in/rickdaustin
  • 3. 3 • Using portfolio management so we focus on the most valuable things • Balancing capacity against demand • How to support corporate governance (security, audit etc.) WHAT ARE WE EXPLORING
  • 4. 4 PMI’S DEFINITION Portfolio management ensures that an organization can leverage its project selection and execution success. It refers to the centralized management of one or more project portfolios to achieve strategic objectives. Our research has shown that portfolio management is a way to bridge the gap between strategy and implementation. DEFINE PORTFOLIO MANAGEMENT
  • 5. 5 PMI’S DEFINITION Portfolio management ensures that an organization can leverage its project selection and execution success. It refers to the centralized management of one or more project portfolios to achieve strategic objectives. Our research has shown that portfolio management is a way to bridge the gap between strategy and implementation. INVESTOPEDIA’S DEFINITION Portfolio management is the art and science of making decisions about investment mix and policy, matching investments to objectives, asset allocation for individuals and institutions, and balancing risk against performance. DEFINE PORTFOLIO MANAGEMENT
  • 6. W H A T I S A N A G I L E W O R L D ?
  • 7. 7 • Defines capabilities to build • Small enough for the team to develop in a few days • Everything and everyone necessary to deliver • Meets acceptance criteria • No known defects • No technical debt WHAT DO I MEAN? BACKLOGS TEAMS WORKING TESTED SOFTWARE
  • 8. 8 • People have clarity around what to build • People understand how it maps to the big picture • Teams can be held accountable for delivery • No indeterminate work piling up at the end of the project WHY ARE THEY IMPORTANT? CLARITY ACCOUNTABILITY MEASURABLE PROGRESS
  • 9. 9 • Governance is the way we make economic tradeoffs in the face of constraints • They way we form teams and foster collaboration at all levels of the organization • What do we measure, how do we baseline performance and show improvement? HOW DOES IT SCALE? GOVERNANCE STRUCTURE METRICS
  • 10. S T R U C T U R E
  • 12. G O V E R N A N C E
  • 15. M E T R I C S
  • 17. 17 Backlog Size Velocity Burndown Escaped Defects Commit % Acceptance % Ratio Scope Change PROGRAM TEAMS PORTFOLIO TEAMS DELIVERY TEAMS Scrum Kanban Kanban
  • 18. 18 Backlog Size Velocity Burndown Escaped Defects Commit % Acceptance % Ratio Scope Change PROGRAM TEAMS PORTFOLIO TEAMS DELIVERY TEAMS Scrum Kanban Kanban Cycle Time Features Blocked Rework/Defects
  • 19. 19 Backlog Size Velocity Burndown Escaped Defects Commit % Acceptance % Ratio Scope Change PROGRAM TEAMS PORTFOLIO TEAMS DELIVERY TEAMS Scrum Kanban Kanban Cycle Time Features Blocked Rework/Defects Cycle Time Time/Cost/Scope/Value ROI/Capitalization
  • 20. G O V E R N A N C E F L O W
  • 21. 21 GOVERNANCE Governance is the method for planning, coordinating and tracking requirements. Agile requirements are progressively elaborated from Epics, to Features and finally Stories. A measurable goal intended to deliver on the intent of an Initiative. Epics are defined and validated by Core Product Teams. A new or improved capability of the system. Features deliver a package of functionality that end users would generally expect to get all at once. Stories are small outcomes designed, built, tested, and delivered in 3- 5 days. Stories are elaborated collaboratively between Delivery and Program Teams. EPIC FEATURE USER STORY
  • 22. 22 PORTFOLIO MANAGEMENT DEMAND MANAGEMENT DETAILED PLANNING EXECUTION GOVERNANCE STRATEGIC ALIGNMENT • Maximize Strategic Alignment • Increase Transparency • Organizational focus on delivering the most valuable work • Increase predictability • Reduce Time to ROI • Identify and plan for dependencies • Balance capacity and demand • Reduce rework • Improve quality • Agree to minimal capabilities needed to deliver value • Ensure credible release planning • Assess and guide the progress of value delivery • Minimize delivery risks • Continually make continue, pivot, kill, ship decisions MEASURE EFFECTIVENES S • Revisit business case • Validate fitness function for capability
  • 23. 23 GOVERNANCE PORTFOLIO WORK INTAKE SOLUTION DEFINITION COMPLETED PORTFOLIO TEAM PROGRA M TEAM DELIVERY TEAM EPIC DEFINITION (DEPENDENCIES, SIZING & RISKS) DEMAND PLANNING & RELEASE ROADMAP MEASURABLE PROGRESS Feature | Kanban Story | Scrum Epic | Kanban RELEASE TARGETING IN PROGRESS EPIC VALIDATION PROGRAM WORK INTAKE SOLUTION DESIGN COMPLETED RELEASE PLANNING IN PROGRESS FEATURE VALIDATION FEATURE READY MAKE READY STORY READY STORY ACCEPTED IN PROGRESS STORY DONE DETAILED PLANNING (CLARITY & VIABILITY) EXECUTION & ACCOUNTABILITY PORTFOLIO PLANNING RELEASE PLAN & DEFINE OPERATEEXECUTE
  • 24. P O R T F O L I O P L A N N I N G
  • 25. 25 PORTFOLIO PLANNING Deliverables associated with each Planning level – Strategy to the Scrum teams DeliverablesDescription  Strategy Statement  Strategic Initiative budget allocation  Portfolio Roadmap  Portfolio budget allocation  Portfolio Priorities Portfolio Planning : 6-12 month horizon, based on the Strategic Initiative budget allocation and the priority of the Programs Release Planning: 2-6 month horizon, Sequencing delivery of Epics, Features, Stories based on business priority Sprint (Iteration) Planning: 1-4 sprint horizon, Delivery team commitments for Stories in the next Iteration Strategic Planning: 12-24 month horizon, Strategy Council provides Strategic Roadmap derived from Group long term and short term strategy Task Planning: One sprint horizon, Delivery team delineates stories into tasks, and assigns tasks to team members  Epic Priorities,  Epic and Feature Sequencing  Delivery Team assignment  Task Definition  Delivery Team member commitment Strategy Portfolio Program Release Iteration Task Program Roadmap: 2-6 month horizon, based on the Platform and Product budget allocation and the business priorities  Story Sequencing  Delivery Team commitment  Program Roadmap  Product budget allocation  Product Priorities
  • 26. 26 PORTFOLIO MANAGEMENT EPIC BRIEF: Supports the definition and flow of epics from new concept until they are delivered or killed. PORTFOLIO PLANNING SHEET: Decisioning tool that helps determine prioritization of the release backlog. EPIC ROADMAP: Roadmap of epics into the future. PORTFOLIO DASHBOARD: Indicator of health of epics, risks, and dependency impacts. RELEASE PLANS: Credible plan to meet release objectives.
  • 27. 27 PORTFOLIO MANAGEMENT DEMAND MANAGEMENT DETAILED PLANNING EXECUTION GOVERNANCE STRATEGIC ALIGNMENT • Maximize Strategic Alignment • Increase Transparency • Organizational focus on delivering the most valuable work • Increase predictability • Reduce Time to ROI • Identify and plan for dependencies • Balance capacity and demand • Reduce rework • Improve quality • Agree to minimal capabilities needed to deliver value • Ensure credible release planning • Assess and guide the progress of value delivery • Minimize delivery risks • Continually make continue, pivot, kill, ship decisions MEASURE EFFECTIVENES S • Revisit business case • Validate fitness function for capability PORTFOLIO WORK INTAKE SOLUTION DEFINITION EPIC VALIDATION RELEASE TARGETING IN PROGRESS
  • 28. 28 STRATEGIC ALIGNMENT PURPOSE ACTIVITIES OUTPUT • Align Epics to strategy • Intake all Epics, validate alignment to Strategic Objectives • Ensure alignment to Business Architecture • Defer Epics that are clearly not aligned to strategy • Epic Brief initiated • Strategically aligned Epics in Portfolio Backlog
  • 29. 29 EPIC BRIEF Epic Owner completes the Vision section Epic Owner and Product Owner team start the Constraints section Begin the Opportunity / Business Case DESCRIPTION VISION CONSTRAINTS PLANNING • Name • Epic Owner/ Product Manager • Investment Theme (and Capability if known) • Value Statement • Features/Benefits • Dependencies • Risks • Assumptions • Opportunity Case
  • 30. 30 PORTFOLIO MANAGEMENT DEMAND MANAGEMENT DETAILED PLANNING EXECUTION GOVERNANCE STRATEGIC ALIGNMENT • Maximize Strategic Alignment • Increase Transparency • Organizational focus on delivering the most valuable work • Increase predictability • Reduce Time to ROI • Identify and plan for dependencies • Balance capacity and demand • Reduce rework • Improve quality • Agree to minimal capabilities needed to deliver value • Ensure credible release planning • Assess and guide the progress of value delivery • Minimize delivery risks • Continually make continue, pivot, kill, ship decisions MEASURE EFFECTIVENES S • Revisit business case • Validate fitness function for capability PORTFOLIO WORK INTAKE SOLUTION DEFINITION EPIC VALIDATION RELEASE TARGETING IN PROGRESS
  • 31. 31 SOLUTION DEFINITION PURPOSE ACTIVITIES OUTPUT • Validate business intent and epic viability • (Aka Discovery) • Validate Epic Brief Vision and Constraints • Identify work to address risks and dependencies • Technical Impact Assessment • Epic Brief Vision and Constrains sections • Program Backlog: Features, Architectural and Risk cards • Update WSJF – More on this in a bit
  • 32. 32 EPIC BRIEF Epic Owner completes the Vision section Epic Owner and Product Owner team complete the Constraints section Prepare the brief Opportunity/Business Case DESCRIPTION VISION CONSTRAINTS PLANNING • Name • Epic Owner/ Product Manager • Investment Theme (and Capability if known) • Value Statement • Features/Benefits • Personas • Dependencies • Risks • Assumptions • Opportunity Case • Roadmap
  • 33. 33 PORTFOLIO MANAGEMENT DEMAND MANAGEMENT DETAILED PLANNING EXECUTION GOVERNANCE STRATEGIC ALIGNMENT • Maximize Strategic Alignment • Increase Transparency • Organizational focus on delivering the most valuable work • Increase predictability • Reduce Time to ROI • Identify and plan for dependencies • Balance capacity and demand • Reduce rework • Improve quality • Agree to minimal capabilities needed to deliver value • Ensure credible release planning • Assess and guide the progress of value delivery • Minimize delivery risks • Continually make continue, pivot, kill, ship decisions MEASURE EFFECTIVENES S • Revisit business case • Validate fitness function for capability PORTFOLIO WORK INTAKE SOLUTION DEFINITION EPIC VALIDATION RELEASE TARGETING IN PROGRESS
  • 34. 34 RELEASE TARGETING PURPOSE ACTIVITIES OUTPUT • Identify and plan for dependencies • Balance capacity and demand • Ensure credible release planning • Estimate Features • Determine Capacity • Plan Epics, Risks and Dependencies (Look ahead planning) • Communicate release objectives • Epic Roadmap revised with risks and dependencies • Release Plans • Portfolio Plans updated • Portfolio Risk Dashboard updated
  • 35. 35 PORTFOLIO MANAGEMENT DEMAND MANAGEMENT DETAILED PLANNING EXECUTION GOVERNANCE STRATEGIC ALIGNMENT • Maximize Strategic Alignment • Increase Transparency • Organizational focus on delivering the most valuable work • Increase predictability • Reduce Time to ROI • Identify and plan for dependencies • Balance capacity and demand • Reduce rework • Improve quality • Agree to minimal capabilities needed to deliver value • Ensure credible release planning • Assess and guide the progress of value delivery • Minimize delivery risks • Continually make continue, pivot, kill, ship decisions MEASURE EFFECTIVENES S • Revisit business case • Validate fitness function for capability PORTFOLIO WORK INTAKE SOLUTION DEFINITION EPIC VALIDATION RELEASE TARGETING IN PROGRESS
  • 36. 36 IN PROGRESS PURPOSE ACTIVITIES OUTPUT • Assess and guide the progress of value delivery • Review Epic Health and Portfolio Dashboard • Monitor & communicate Release Health to Stakeholders • Continue, Change or Stop Decisions • Epic Dashboard • Portfolio Dashboard • Portfolio Kanban Board
  • 37. P R I O R I T I Z A T I O N T E C H N I Q U E S
  • 38. 38 “If you only measure one thing, measure cost of delay” - D. Reinertsen, The Principles of Product Development Flow COST OF DELAY: • The revenue that could be earned each month a project is in the market • It is a way of communicating the impact of time on desired outcomes COST OF DELAY
  • 39. 39 3 Features of a certain value with a CD3 calculation (value / duration) Total amount of value across three features is $19,000 COMPARE FEATURES FEATURE DURATION VALUE CD3 A 3 weeks $3000 1 B 4 weeks $7000 1.75 C 6 weeks $9000 1.5 Note: Value could be expressed as a relative number
  • 40. 40 No Priority – Total Cost of Delay: $247k Shortest Job First – Total Cost of Delay: $175k Do The Most Valuable First - Total Cost of Delay: $187k DO BASED ON CD3 – TOTAL COST OF DELAY: $157K PRIORITY IMPACT ON C O S T O F D E L AY
  • 41. D E M A N D M A N A G E M E N T
  • 42. 42 HOW TO EXPRESS CAPACITY?
  • 43. 43 “CAPACITY” CAN BE EXPRESSED AS “TEAM MONTHS” “TEAM SPRINTS” “There are 6.5 “Team Sprints” for Team X remaining for FY17” (e.g. 13 weeks / 2 weeks per sprint) “TEAM RELEASES” “There are 2.25 “Team Releases” for Team X remaining for FY17” (e.g. 13 weeks / 3 Sprints per Release) STORY POINTS “There are 150 Story Points available for the remainder of the year …” (e.g. Average velocity of 25 SPs x 6.5 Sprints remaining) “Only 25% of the “Team Months” for Team X remain for FY17” (e.g. 3 months remaining of 12 months this year)
  • 44. 44 ALL WHICH DERIVE THEIR USE FROM STABLE VELOCITY! DELIVERY TEAM …Meaningless without Stable Velocity. “TEAM MONTHS” “TEAM SPRINTS” “There are 6.5 “Team Sprints” for Team X remaining for FY17” (e.g. 13 weeks / 2 weeks per sprint) “TEAM RELEASES” “There are 2.25 “Team Releases” for Team X remaining for FY17” (e.g. 13 weeks / 3 Sprints per Release) STORY POINTS “There are 150 Story Points available for the remainder of the year …” (e.g. Average velocity of 25 SPs x 6.5 Sprints remaining) “Only 25% of the “Team Months” for Team X remain for FY17” (e.g. 3 months remaining of 12 months this year)
  • 45. 45 1 2 3 4 5 CAPACITY IS INVESTED T O O B TAI N O U T C O M E S 10 MONTHS 20% ~ 10 TEAM MONTHS 35% ~ 17.5 TEAM MONTHS 20% ~ 10 TEAM MONTHS 25% ~ 12.5 TEAM MONTHS Early on you can “roadmap” out what you’re willing to invest capacity for across investment themes … 35% 25% 2O% 2O% INVESTMENT THEMES Program Capacity Over Next 10 Months = 50 Team Months
  • 46. R O A D M A P S
  • 47. 47 Rolling Wave Planning, used in Agile processes, embraces the Lean ideal of making decisions at the last responsible moment, when the most possible information is available. This maximizes flexibility and planning accuracy. AGILE USES ROLLING WAVE PLANNING
  • 48. 48 MUST HAVE – Minimum subset of requirements that must be delivered SHOULD HAVE – Important but not needed to have a viable solution COULD HAVE – Desired but less important WON’T HAVE – Things we have agreed to not deliver MOSCOW PRIORITIZATION
  • 49. 49 ROLLING 12-18 MONTHS EPIC Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 (ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5 ROADMAP EPIC ROADMAP EPIC ROADMAP EPIC ROADMAP EPIC This is … • A Rolling Plan for 12-18 months ahead • A Hypothesis for how to meet the goals • Not what you will do to meet those goals EPIC ROADMAP EPIC ROADMAP EPIC ROADMAP EPIC ROADMAP EPIC ROADMAP EPIC EPIC EPIC EPIC
  • 50. 50 MUST HAVE SHOULD HAVE COULD HAVE WISH TO HAVE WISH TO HAVE MUST HAVE SHOULD HAVE COULD HAVE WISH TO HAVE WISH TO HAVE WISH TO HAVE MUST HAVE MUST HAVE MUST HAVE APPLYING MOSCOW TO EPICS Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 (ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
  • 51. 51 Do you commit to the could have? WHAT DO WE COMMIT TO? MUST HAVE FEATURES MUST HAVE EPIC COULD HAVE EPIC SHOULD HAVE EPICS COULD HAVE EPIC SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE FEATURES SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE EPIC WISH TO HAVE WISH TO HAVE WISH TO HAVE SHOULD HAVE EPICS WON’T HAVE FEATURES WON’T HAVE FEATURES Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 (ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
  • 52. 52 Do you commit to the could have? WHAT DO WE COMMIT TO? NO MUST HAVE FEATURES MUST HAVE EPIC COULD HAVE EPIC SHOULD HAVE EPICS COULD HAVE EPIC SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE FEATURES SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE EPIC WISH TO HAVE WISH TO HAVE WISH TO HAVE SHOULD HAVE EPICS WON’T HAVE FEATURES WON’T HAVE FEATURES Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 (ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
  • 53. 53 Do you commit to the wish to have? WHAT DO WE COMMIT TO? MUST HAVE FEATURES MUST HAVE EPIC COULD HAVE EPIC SHOULD HAVE EPICS COULD HAVE EPIC SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE FEATURES SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE EPIC WISH TO HAVE WISH TO HAVE WISH TO HAVE SHOULD HAVE EPICS WON’T HAVE FEATURES WON’T HAVE FEATURES Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 (ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
  • 54. 54 Do you commit to the wish to have? WHAT DO WE COMMIT TO? NO MUST HAVE FEATURES MUST HAVE EPIC COULD HAVE EPIC SHOULD HAVE EPICS COULD HAVE EPIC SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE FEATURES SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE EPIC WISH TO HAVE WISH TO HAVE WISH TO HAVE SHOULD HAVE EPICS WON’T HAVE FEATURES WON’T HAVE FEATURES Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 (ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
  • 55. 55 Do you commit to should and must? WHAT DO WE COMMIT TO? MUST HAVE FEATURES MUST HAVE EPIC COULD HAVE EPIC SHOULD HAVE EPICS COULD HAVE EPIC SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE FEATURES SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE EPIC WISH TO HAVE WISH TO HAVE WISH TO HAVE SHOULD HAVE EPICS WON’T HAVE FEATURES WON’T HAVE FEATURES Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 (ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
  • 56. 56 Do you commit to should and must? WHAT DO WE COMMIT TO? YES MUST HAVE FEATURES MUST HAVE EPIC COULD HAVE EPIC SHOULD HAVE EPICS COULD HAVE EPIC SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE FEATURES SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE EPIC WISH TO HAVE WISH TO HAVE WISH TO HAVE SHOULD HAVE EPICS WON’T HAVE FEATURES WON’T HAVE FEATURES Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 (ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
  • 57. 57 IF WE FINISH EARLY? MUST HAVE FEATURES MUST HAVE EPIC SHOULD HAVE EPICS SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE FEATURES SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE EPIC SHOULD HAVE EPICS WON’T HAVE FEATURES WON’T HAVE FEATURES Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 (ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
  • 58. 58 FINISH THE ROADMAP MUST HAVE FEATURES MUST HAVE EPIC COULD HAVE EPIC SHOULD HAVE EPICS COULD HAVE EPIC SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE FEATURES SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE EPIC WISH TO HAVE WISH TO HAVE WISH TO HAVE SHOULD HAVE EPICS WON’T HAVE FEATURES WON’T HAVE FEATURES Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 (ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
  • 59. 59 ADD NEW & REPRIORITIZE MUST HAVE FEATURES MUST HAVE EPIC COULD HAVE EPIC SHOULD HAVE EPICS COULD HAVE EPIC SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE FEATURES SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE EPIC WISH TO HAVE WISH TO HAVE WISH TO HAVE SHOULD HAVE EPICS WON’T HAVE FEATURES WON’T HAVE FEATURES MUST HAVE EPIC MUST HAVE EPIC Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 (ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
  • 60. 60 THAT’S BETTER… MUST HAVE FEATURES MUST HAVE EPIC COULD HAVE EPIC SHOULD HAVE EPICS COULD HAVE EPIC SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE FEATURES SHOULD HAVE FEATURES COULD HAVE FEATURES MUST HAVE EPIC WISH TO HAVE WISH TO HAVE WISH TO HAVE SHOULD HAVE EPICS WON’T HAVE FEATURES WON’T HAVE FEATURES MUST HAVE EPIC MUST HAVE EPIC Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 (ACTIVE) PLANNED Q+2 Q+3 Q+4 Q+5
  • 61. D E T A I L E D G O V E R N A N C E
  • 62. 62 GOVERNANCE PORTFOLIO WORK INTAKE SOLUTION DEFINITION COMPLETED PORTFOLIO TEAM PROGRA M TEAM DELIVERY TEAM EPIC DEFINITION (DEPENDENCIES, SIZING & RISKS) DEMAND PLANNING & RELEASE ROADMAP MEASURABLE PROGRESS Feature | Kanban Story | Scrum Epic | Kanban RELEASE TARGETING IN PROGRESS EPIC VALIDATION PROGRAM WORK INTAKE SOLUTION DESIGN COMPLETED RELEASE PLANNING IN PROGRESS FEATURE VALIDATION FEATURE READY MAKE READY STORY READY STORY ACCEPTED IN PROGRESS STORY DONE DETAILED PLANNING (CLARITY & VIABILITY) EXECUTION & ACCOUNTABILITY PORTFOLIO PLANNING RELEASE PLAN & DEFINE OPERATEEXECUTE
  • 63. 63 PURPOSE • Intake process for Initiatives to be considered • Define Epics for Initiatives • Validate business intent & epic viability • Ensure credible release planning • Identify & plan for dependencies • Balance capacity & demand • Assess and guide the progress of value delivery • Validate solution • Customer / Vendor UAT • Validate Outcomes ACTIVITIE S • Epic Brief initiated • Validate Epic & Constraints • Identify work to address risks and dependencies • Product Discovery and Product Validation • Communicate release objectives (MVP) • Sufficient release planning is captured in planning toolset • Determine Capacity • Plan Risks & Dependencies • Review Epic Health & Portfolio Dashboard • Monitor & communicate Release Health to Stakeholders • Continue, Change or Stop Decisions • Determine if capabilities provide expected solution • Product Discovery and Product Validation • User acceptance testing • Work with vendors or customers for final solution validation • Measure Outcomes OUTPUTS • Epic Brief Draft • Product Discovery and Product Validation validated with customers • Epic Brief • Cost Estimate • Updated Business Plan – Cost Case • Financial Evaluation • Technology Impact Assessment • Portfolio Roadmap Updated • Portfolio Roadmap • Signoff - Initiative/Epic • Portfolio Planning Sheet • Release Plan • Updated Risk Assessment • Release Planning Signoff – Initiative/Epic • Epic Definition of Ready Validated • Epic Dashboard • Portfolio Dashboard • Product Discovery and Product Validation – Revalidated with customers • Epic Brief updated as completed • Operation Signoff – Program/Epic • UAT Approval • Release Review • Epic Definition of Done validated • Execute Signoff - Epic • Retrospective Analysis RACI (TEAM) • R – Portfolio Team • Program Team • A - Portfolio Team • C – Product Management • I – Delivery Team • R – Portfolio Team • Program Team • A - Portfolio Team • C – Product Management • I – Delivery Team • R – Portfolio Team • Program Team • A - Portfolio Team • C – Product Management • I – Delivery Team • R – Portfolio Team • Program Team • A - Portfolio Team • C – Product Management • I – Delivery Team • R – Portfolio Team • Program Team • A - Portfolio Team • C – Product Management • I – Delivery Team • R – Portfolio Team • Program Team • A - Portfolio Team • C – Product Management • I – Delivery Team PORTFOLIO WORK INTAKE SOLUTION DEFINITION COMPLETEDRELEASE TARGETING IN PROGRESS EPIC VALIDATION Portfolio Tier
  • 64. 64 PURPOSE • Intake process for epics to be considered • High level solution design • Validate solution viability • Elaborate stories from features • Identify risks & dependencies • Features are ready for development • Credible plan exists • MMF identified • Assess and guide the progress of value delivery • All features and stories are done for the epic • Features in production ACTIVITIES • Creation of initial epic for Investment Decision by the Portfolio Team • Technology Assessment • Identify solution options • Identify work to address risks and dependencies • Story mapping • Estimate Features and Stories • Plan Risks & Dependencies • Define Test Plans • Validate MMF for initiative • Make release commitment • Estimate Features • Estimate Stories • Review Epic Health & Portfolio Dashboard • Monitor & communicate Release Health to Stakeholders • Continue, Change or Stop Decisions • Deployment to QA environments • Acceptance testing by IVT • Socialization of capabilities • Final defect remediation • NFR Validation • Operational handoff • Warranty support • Update portfolio metrics OUTPUTS • Feature Definition initiated • OOM Estimates (if available) • Program Backlog: Features Definition • Architecture Impact Assessment • Risk and Dependency Assessment • Test Strategy Defined • Feature Estimates • UX Design • High Level Design • Initial Release Plan • Updated risk and dependency lists • Spikes identified • Stories Named • System Test Plan • Integration Test Plan • Regression Test Plan • Solution Design Package • Feature backlog • items prioritized • Feature backlog • items sequenced across teams • Spikes planned • Release Defined • UAT Plan Defined • Feature Definition of Ready Validated • Feature Dashboard • Epic Dashboard • Portfolio Dashboard • Feature approval • Updated documentation • Traceability Matrix • System Test Approval • Integration Test Approval • Regression tests Approval • NFR Testing Approval • Disaster Recovery Plan Updated • Support Manual Updated • Service/Operational Level Agreement • Feature Definition of Done validated • Features released • Release criteria met • No high severity defects RACI • R – Program Team, Delivery Team • A - Program Team • C - Delivery Team • I – Portfolio Team • R – Program Team, Delivery Team • A - Program Team • C - Delivery Team • I – Portfolio Team • R – Program Team, Delivery Team • A - Program Team • C - Delivery Team • I – Portfolio Team • R – Program Team, Delivery Team • A - Program Team • C - Delivery Team • I – Portfolio Team • R – Program Team, Delivery Team • A - Program Team • C - Delivery Team • I – Portfolio Team • R – Program Team, Delivery Team • A - Program Team • C - Delivery Team • I – Portfolio Team • R – Program Team, Delivery Team • A - Program Team • C - Delivery Team • I – Portfolio Team Program Tier PROGRAM WORK INTAKE SOLUTION DESIGN COMPLETED RELEASE PLANNING IN PROGRESS FEATURE VALIDATION FEATURE READY
  • 65. 65 PURPOSE • Ready the backlog • Stories ready for delivery teams • Work is done to complete story / feature • Story / feature has been completed • Story / feature has been accepted ACTIVITIES • Create story in defined format • Create acceptance criteria in the defined format • Provide additional documentation as needed • Tie acceptance criteria to feature acceptance • Revise Level of Value • Create story tasks • Develop story functionality • Unit test functionality • Code/Peer Review • Check-in code • Repair defects • Story meets the definition of done • Product owner approves story as meeting acceptance criteria. • Bugs found for the story have been remediated • Ongoing Support • Operational Handoff • Lessons Learned OUTPUTS • User Story is Defined with Scenarios • Acceptance Criteria is complete • Architecture Artifacts • UX Design, Wireframe Artifacts • Story Point Estimate • Story Definition of Ready Validated • Tasks Defined • Task Hours Estimate • Sprint Planning • Monitor Progress on Scrum Board • Standup • Story Development • Story Unit Testing • Story System Testing • Story Done • Story Definition of Done Validated • Story Demo • Story Accepted in ALM Toolset • Operational documentation updated (as needed) • Sprint Retrospective • Delivery Team Metrics RACI • R – Delivery Team, Program Team • A – Delivery Team • C – Delivery Team • I – Program Team • R – Delivery Team, Program Team • A – Delivery Team • C – Delivery Team • I – Program Team • R – Delivery Team, Program Team • A – Delivery Team • C – Delivery Team • I – Program Team • R – Delivery Team, Program Team • A – Delivery Team • C – Delivery Team • I – Program Team • R – Delivery Team, Program Team • A – Delivery Team • C – Delivery Team • I – Program Team Delivery Tier MAKE READY STORY READY STORY ACCEPTED IN PROGRESS STORY DONE
  • 66. 66 • Using portfolio management so we focus on the most valuable things • Balancing capacity against demand • How to support corporate governance (security, audit etc.) WRAP UP
  • 67. 67 RICK AUSTIN ABOUT ME … Experience applying agile to small teams, large distributed teams, & change management Agile Project Management Volunteer and Leader Expert in Financial Services Industry Georgia State Grad Agile Transition Director, Program Manager Applications Development Manager Director of DevelopmentInformation Technology Director rick@leadingagile.com 678.743.1616 www.leadingagile.com twitter.com/rickaustin facebook.com/leadingagile linkedin.com/in/rickdaustin

Editor's Notes

  1. 11. We start with high level requirements that become more detailed as we learn more about the product we are building.  We start with high level architectural representations that emerge toward detailed design as we actually begin developing the working product.  You might think of this as rolling wave planning or progressive elaboration.  The idea is that we plan based on what we know, and plan more as we learn more.  
  2. 11. We start with high level requirements that become more detailed as we learn more about the product we are building.  We start with high level architectural representations that emerge toward detailed design as we actually begin developing the working product.  You might think of this as rolling wave planning or progressive elaboration.  The idea is that we plan based on what we know, and plan more as we learn more.  
  3. 11. We start with high level requirements that become more detailed as we learn more about the product we are building.  We start with high level architectural representations that emerge toward detailed design as we actually begin developing the working product.  You might think of this as rolling wave planning or progressive elaboration.  The idea is that we plan based on what we know, and plan more as we learn more.  
  4. This is an initial qualitative filter made with minimal information. By removing Epics early from Planning, the organization avoids wasting significant time refining epics that will not be built in the near term. Strategy for very large or very small requests
  5. This is an initial qualitative filter made with minimal information. By removing Epics early from Planning, the organization avoids wasting significant time refining epics that will not be built in the near term. Strategy for very large or very small requests
  6. As more detail is available, the value and cost estimates may change significantly. Now is the time to make those changes in the planning sheet to ensure the highest value work is being addressed and lower value work is deferred.
  7. This is an initial qualitative filter made with minimal information. By removing Epics early from Planning, the organization avoids wasting significant time refining epics that will not be built in the near term. Strategy for very large or very small requests
  8. [TODO: Need to work on a good graphic]