RPM Equips Financial Services Firm with Advanced Estimation and Execution

Challenge:

A Fortune 500 financial services firm challenged us with improving their project estimation. They needed an objective, third-party perspective to bring an infusion of experience and industry best practices. We assessed the firm’s current business / IT alignment capabilities and processes, with an eye to achieving the following process-improvement objectives:

  • Improve scope boundaries and requirements thoroughness, accuracy and speed
  • Improve estimation effectiveness
  • Increase scope management discipline
  • Improve Agile project execution

Solution:

  • Leveraged Daugherty’s Rapid Process Map® (RPM) methodology to assess scoping, estimation and project execution, and provided improvement recommendations
  • Developed a customized parametric (metrics-based) estimating model based on Daugherty’s estimating model toolkit and experience
  • Compared existing firm estimates against the new model’s estimates; made refinements to estimation processes, methods and tools
  • Assessed usage of Agile techniques, and provided improvement recommendations

Business Results:

  • Scoping and Estimating – Reduced scoping, requirements and budgeting timeline and effort by over 60 percent by leveraging the RPM Inception and Elaboration processes.
  • Project ExecutionIncreased clarity, consistency, completeness, end-to-end traceability and efficiency using enhanced processes and templates; reduced scope creep using increased scope definition and rapid prototyping.
  • Agile Execution & FrameworkImproved user story definitions and traceability of estimates to requirements, and enabled development of rigorous testing acceptance criteria. Increased confidence in selecting appropriate techniques, correctly using design documentation, and developing accurate Agile estimates.