Speed Indicators-Project Management on Steroids (Schedules/Costs)
Relationships between these two elements are extremely simple, “the shorter the timeline the less in development dollars, plain and simple”. You must think through all your decisions because any decision has cost ramifications toward the project. Length of the timeline, as well as costs, can add up quickly so you see the direct correlation between schedules/costs.
• Speed Indicator One-Tech Events related to Schedule/Cost
Tech events (technology event) seem to crop up in all projects; they usually have to do with tools, hardware or software issues. They are VERY hard to predict, there unpredictability/frequency in all projects can put a damper on both Costs and Schedule creating a runaway project. You must look out early in a project, maintain constant risk planning and be alert throughout the project life-cycle.
• Speed Indicator Two- Quality Review related to Schedule/Cost
As you focus on the development schedule/costs factors, you will have to start the discussions on quality assurance. The business will usually determine the quality of the project because you will have to meet the business/stakeholders expectations of a successful project (application). Once your project is finished it will have to pass the business/stakeholders level of quality. Here is where you must look out for the dreaded “Scope Creep” because every time someone tries to add a feature that was not specifically detailed in the project scope it will throw your schedule/costs out of whack. Team members who worked on the scoop creep requirement did not have the time to perform the tasks that they were assigned, incurring additional costs for the development team thus schedule/costs to the project and timeline. Scrum-Master, Project Manager or team leader you will have to be the one to talk to the business/stakeholder and explain why costs and schedules have gone awry if scoop creep takes hold. Be vigilant, if your project becomes behind schedule or if your project suddenly lurches ahead at breakneck speed you need to check these indicators that are related to schedules/cost. (Tech-events/quality reviews)