Accurately estimating work is one of the most difficult aspects of the job for project managers and business owners. The need to manage resources so that teams are properly allocated, the financial component, and the predictions for next quarters are all different factors.
In the end, it all boils down to using the proper Agile estimate methods.
When estimates are done correctly, projects are completed on schedule, businesses are successful, and team members are satisfied since their deadlines and priorities are established.
Common Agile Estimation Techniques
Till now we have talked a lot about Planning poker in all the other blogs, but that is not the only agile estimation technique. Different situations can require different methods of estimation. These situations vary based on the following factors:
- The amount of items and tasks you have to estimate
- How big your team is
- Is the team colocated or combined in the office
- Accessible tools to expedite the process
- Work habits and character traits
Based on these factors, lets discuss a few types of agile estimation techniques:
Story Points
One common agile estimation technique is called “story points.” In this method, the team estimates the relative size and complexity of each user story (a small, self-contained unit of work within a project) using a predetermined scale. For example, a team might use a scale of 1-5, with 1 representing a small, straightforward task and 5 representing a large, complex task. By assigning a story point value to each user story, the team can quickly and accurately estimate the overall effort required to complete the project.
T-Shirt Sizing
Another agile estimation technique is called “t-shirt sizing.” In this method, the team assigns user stories to one of four sizes: small, medium, large, and extra large. This technique is simple and easy to understand, but it can be less precise than other techniques as it does not provide a numerical value for each user story.
Relative Estimation
Another agile estimation technique is called “relative estimation.” In this method, the team estimates the size and complexity of each user story relative to a reference user story, which is chosen as the basis for all subsequent estimations. For example, if the reference user story is assigned a value of 5, the team might estimate a similar user story as 4, and a more complex user story as 7. This technique can be useful for teams that are working on similar types of projects and want to build on their previous estimation experience.
There are also hybrid agile estimation techniques that combine elements of the above methods. For example, the team might use story points for high-level estimation and t-shirt sizing for more detailed estimation.
In conclusion, there are several agile estimation techniques that teams can use to accurately determine the effort required to complete a project. The best technique will depend on the specific needs and preferences of the team and the project. It is important for teams to regularly review and refine their estimation processes to ensure that they are accurate and effective.
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