The “Adaptation” section (which includes the "Levels of Planning," "Adaptation," and "Agile Sizing and Estimation" subsections) on p. 417 of “Appendix A: Next Steps” of PMI-ACP® Project Management Institute Agile Certified Practitioner Exam Study Guide reviews several considerations for adaptive planning. – See highlighted below for the references:
Adaptation
Practicing agility allows the team to adapt to changing environments.
Adapt the cadence and the planning process based on results of periodic retrospectives about characteristics and/or the size/complexity/criticality of the project deliverables in order to maximize the value.
Inspect and adapt the project plan to reflect changes in requirements, schedule, and budget and to reflect shifting priorities based on team learning, delivery experience, stakeholder feedback, and defects in order to maximize business value delivered.
Review and apply these recommendations to the following scenario: You are a project manager for a new video streaming service. Your video streaming service is competing with other prominent and established video streaming services, such as Netflix® and Hulu®. Your project goal is to provide quality programming at a competitive price.
Agile Sizing and Estimation
Planning is different in an Agile project as compared to a Waterfall preplanned project, therefore estimation and sizing of work needs to be adaptable and relevant to the work itself.Size items by using progressive elaboration techniques in order to determine likely project size independent of team velocity and external variables
.Adjust capacity by incorporating maintenance and operations demands and other factors in order to create or update the range estimate.
Create initial scope, schedule, and cost range estimates that reflect current high-level understanding of the effort necessary to deliver the project in order to develop a starting point for managing the project.
Refine scope, schedule, and cost range estimates that reflect the latest understanding of the effort necessary to deliver the project in order to manage the project.
Continuously use data from changes in resource capacity, project size, and velocity metrics in order to evaluate the estimate to complete or ETC.
Respond to the following in a minimum of 175 words:
• Describe 3 items that should be tracked and considered to measure earned value and discuss how that value is determined.
• List 3 KPIs that should be tracked and indicate what good and poor values are for each KPI.
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Tracking Earned Value in a Video Streaming Service Project
Tracking Earned Value in a Video Streaming Service Project
When measuring earned value in a project like a video streaming service, it is essential to track and consider various key factors to assess project progress and performance accurately. Here are three items that should be tracked to measure earned value and how that value is determined:
1. Content Acquisition and Licensing Costs: Tracking the costs associated with acquiring and licensing quality programming for the video streaming service is crucial. Earned value in this aspect can be determined by comparing the actual expenditure on content rights with the planned budget. For example, if the actual spending on content acquisition is below the budgeted amount, it indicates positive earned value.
2. Subscriber Growth: Monitoring subscriber growth is another vital metric to measure the success of the video streaming service project. Earned value in this case can be determined by comparing the projected number of subscribers at a given point with the actual number of subscribers achieved. Exceeding the projected subscriber count signifies positive earned value.
3. Customer Retention Rate: Tracking the rate at which customers continue their subscriptions over time is crucial for long-term success. Earned value related to customer retention can be determined by comparing the expected retention rate with the actual rate. A high retention rate indicates positive earned value, reflecting customer satisfaction and loyalty.
Key Performance Indicators (KPIs) to Track
Three KPIs that should be tracked in a video streaming service project are:
1. Average Revenue Per User (ARPU)
- Good Value: Increasing ARPU indicates that customers are spending more on the platform, leading to higher revenue generation.
- Poor Value: A declining ARPU may signify challenges in monetization strategies or customer dissatisfaction.
2. Churn Rate
- Good Value: A low churn rate indicates that customers are staying loyal to the service, contributing to long-term revenue stability.
- Poor Value: High churn rate suggests that customers are leaving the platform, impacting revenue and growth potential negatively.
3. Content Engagement Metrics (e.g., Watch Time, Content Views)
- Good Value: High engagement metrics reflect that users are actively consuming content, indicating a strong platform appeal.
- Poor Value: Low engagement metrics may signal content relevance issues or user dissatisfaction, impacting customer retention and revenue.
Tracking these KPIs provides valuable insights into the performance and success of the video streaming service project, helping in making informed decisions and driving continuous improvement throughout the project lifecycle.
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