Posted over 6 years ago. Visible to the public. Repeats.

Project management best practices: Budget control

When starting a project we always make a good estimate of all known requirements, and plan budgets and available developers accordingly.

Requirements change. Budgets usually don't.

To make sure a project stays on track, we update our estimates once a month and compare them to the remaining budget. If this doesn't match any more, we have to act.

To update an estimate, do the following:

  • Start with the most recent estimate for the project.
  • Which stories have been completed? Set their estimate to zero.
  • Have any requirements changed future requirements? Adjust them.
  • Have you become aware of new requirements? Add them.
  • Have you become aware of any bias in our previous estimate?
    Did we grossly over- or underestimate certain aspects of the project?
    Do you have to correct further estimates accordingly?
  • Our estimates always include a percentage markup for organization and project management anywhere between 10% and 30%.
    Is this value still correct? If not, adjust it.

Does your version of Ruby on Rails still receive security updates?
Rails LTS provides security patches for unsupported versions of Ruby on Rails (2.3, 3.2, 4.2 and 5.2).

Owner of this card:

Tobias Kraze
Last edit:
almost 5 years ago
by Michael Leimstädtner
About this deck:
We are makandra and do test-driven, agile Ruby on Rails software development.
License for source code
Posted by Tobias Kraze to makandra dev
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