project scheduling&cost plan

project scheduling&cost plan

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this one page discussion. by following questions. plase note: read article and chapter 17 before discuss it and reference must from chapter.

After reading chapter 17 and the article “Agile vs. Waterfall PM,

Discuss the key differences between the Agile and Waterfall.

What do you think are some of the advantages of Agile approach?

If you had a choice between an Agile and a Waterfall project, which do you prefer and why?

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Waterfall Project Management vs. Agile Project Management: The Paradigm Shift
In a previous post titled Is Agile Project Management Compatible with PMI’s PMBOK? I mentioned that all the PMBOK processes can be done on an agile project as well. In fact, the PMBOK says: “There is no single best way to define an ideal project life cycle” as well as “The project manager, in collaboration with the project team, is always responsible for determining what processes are appropriate, and the appropriate degree of rigor for each process, for any given project.” In my mind, it’s clear that any project life cycle methodology can be used within the overall PMBOK framework of project management processes.
Now, another key question is how agile project management compares to project management on a waterfall methodology based project. Waterfall approaches work hard to prevent changes in scope, whereas agile expects and embrace scope change and focus on delivering business value quickly instead. The typical waterfall approach as illustrated in the diagram below is that features (scope) first are defined in detail (big design up front) driving the ability to create schedule & cost estimates. This is contrasted against the agile strategy which is to fix schedule & cost constraints and then work to implement the highest value features as defined by the customer, so that scope remains flexible. We typically know roughly what our budget is, so agile allows us to fix the budget and schedule of iterations. Then we work on delivering high value functionality to the business quickly and often.
Waterfall vs. Agile: The Paradigm Shift
Agile has simply flipped the triple constraint triangle…and the focus is on delivering high business value quickly! The standard practices of scope definition, work breakdown structure (WBS) creation, and scope verification occur iteratively in agile. During agile release planning, the features are defined at a very high level and placed into iterations in priority order. At this point the agile WBS only has deliverables, not work packages. These features, or deliverables, can be estimated at a gross level only. Once the iteration begins, the features slated for that iteration–and only that iteration–are elaborated. Think of it as just-in-time elaboration that prevents a wasteful buildup of requirements inventory that may never be processed.
Is there a right or wrong way to do things? The methodology you use on your project must be driven by the problem you are trying to solve – There is no right or wrong answer! If the end state is well known & requirements are clearly defined and documented, then waterfall works well. However, if the end state is unknown or changing rapidly, then agile works well. I have found that generally that the Agile Methodology works best for custom software development projects.
So when comparing waterfall to agile, you really need to look at things differently. However, the core PMBOK based project management best practices you have worked so hard to perfect are still very much relevant

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