Report Sez Only Half of Companies Are Using Agile Planning; Process & Application Challenge Compounded by COVID & Disrupted Business Planning

SITUATION:
See link to business report on agile finance, organizational culture, technology, & data.
Lot of attention to detail to use agile planning process.
COVID may be good time to adopt this management process.

SIGNIFICANCE:
Report indicated many businesses not positioned to face sudden changes.
Not operating using Agility but one half of responding companies are.
40-% are not using scenario modeling. Disconnected data sources can be a problem.

SOLUTION:
Adopt Agile Planning?
Project planning method that estimates work using self-contained work units.
Units are called iterations or sprints for periods of 1-3 weeks;
Team focuses on a small set of work items, and aims to complete them.
Agile planning defines which items are done in each sprint.
Creates a repeatable process to help teams learn how much they can achieve.
Agile Planning Report seeks to add context to decision making.
All management needs to be involved- people, culture, process, & technology.
Need for an ability to adapt quickly to change,

5 Levels of Agile Planning: [See Below]
Product Vision. Product Vision is the long term outcome that the product aims?
Roadmap is a plan on how the product should evolve to achieve the above vision.
Release Plan- Defines the list of features that will be delivered in the decided timeline.
Iteration Plan.
Daily Standup.

4 essential components of Agile Planning :

  1. An agile project plan is divided into releases & sprint
  2.  Planning is based on user stories
  3. Planning is iterative and incremental
  4. Estimation is done by team members themselves

Release Plan Process [From Monday Project]

Based on Predetermined goals, follow these steps to plan the release:

  1. Discuss the needed features to address the goals.
  2. Discuss the details involved in each feature, and factors that can influence delivery. This would include the infrastructure required, risk, and external dependencies. Features with highest risk and highest value should be planned early in the release.
  3. Decide how much work you can commit to as a team, to finishing in each sprint. This is usually based on the team’s velocity in previous sprints. You should take into account existing work on infrastructure or tools, and known interruptions such as support work.
  4. List the stories and epics for the release in priority order with their size. An epicis a larger dev task broken down into several user stories.
  5. Add an iteration to the plan.
  6. Add stories to the iteration until it reaches the maximum capacity.
  7. Add more iterations until all user stories are covered, or remove lower priority user stories to adapt to the required time frame for the release.
  8. Share the plan using your agile management software of choiceand ask for feedback to get commitment from all team members, product owner and other stakeholders.

STATS:;
Survey of 350 business finance & operational professionals;
44% of companies do have an early warning systems in place.

SOURCES;Report – https://www.venasolutions.com/content/whitepapers-and-reports?hsCtaTracking=5d574fe9-217e-490f-b898-12e0b18599f8%7Cb723cb14-33e7-43f1-86a6-8e9fe721c991#ufh-i-622256951-industry-benchmark-report

https://labusinessjournal.com/news/2020/sep/28/cfo-awards-only-48-businesses-are-operating-agile-

Agile planning: a step-by-step guide

https://monday.com/blog/project-management/agile-planning/#:~:text=Agile%20planning%20is%20a%20project,and%20aims%20to%20complete%20them.

Company Info”
Vena Solutions|1971 Western Avenue, Albany, NY 12203, 1-855-434-281

support@venacorp.com

855-660-9754 ext. 3

 

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