How to handle agile projects budget through the agile project process?
Big organization, highly respected in the industry, conservative approach to the financial world, highly regulated.
1000+ tech employees
Yearly road-mapping, upfront budget allocation for projects.
For Some of the projects agile methodology was selected. Others are to come.
What are the challenges with agile budgeting vs traditional budgeting?
Project scoping and planning are in high level and details are added continuously during the project . meaning, you DON’T know detailed budget needs up front . meaning, The feeling level of uncertainty is low = anxiety.What are the needs of agile project budgeting?
Calculate an accurate budget that considers all key elements required by the stakeholder, in terms of both cost and time .commitments.
Establish processes that enable the budget to be flexible, in terms of .swapping features/elements in and out following stakeholder feedback, so the project can remain Agile without going over budget.