Estimate the Unforeseeable Estimate of Unknown Unknowns by Klau Bjørnestad

Agile projects are perceived by some as somewhat unpredictable in terms of budget and duration.

However, the project sponsor need to allocate a budget within the portfolio and a delivery time towards the customer.

Can this be done in an agile setup? YES.
Ensure Robust Budgets – Even in Agile Projects – Budget Backlog!

In this seminar, we present an approach for securing robust budgeting in Agile IT projects – a solid Backlog Budget. The method is also applicable to other types of projects.

We’re joined by an experienced IT practitioner who has worked in agile environments for years and faced the challenge of creating reliable budgets – and an experienced IT manager who has provided estimates for numerous IT projects.

Here’s one solution: Involve the project team in an effective estimation process to identify and assess general uncertainties and estimate both risks and deliverables – before going into Sprints. This gives you a Backlog Budget. For each sprint, a portion of the backlog budget is allocated.

Do you experience this?

• Struggling to stay within time and budget?
• Unable to give the project sponsor a reliable estimate of hours?
• Disruptions caused by other projects that overrun?
• Lacking resources because other projects are delayed?

Then listen to the experiences shared by senior consultant Rolf Christensen, CEO Klaus B. G. Hjulmand, and senior consultant Henrik K Søndergaard. 

Content – What we'll cover:

• Why do budgets and plans often fail?
• What are the fundamentals of this method?
• The role of Unknown Unknowns (the unpredictable)
• Product, Sprint & Budget Backlogs
• Participants will engage with questions and visual slides. 

Key Takeaways

• Understand why traditional methods fail in agile setups
• Learn how to estimate your Backlog Budget for the entire project
• Learn how to handle the unpredictable (Unknown Unknowns)
• Understand how the method can be communicated within an agile environment