John BaconProject Manager /Agile Product Owner| Not DisclosedFl, United States
I'm trying to help my PMO team by solving a problem we have of many of our projects end up exceeding budget. This year alone over half of our active projects have already exceeded the planned cost/budget. For the most part we use Agile methodology. Before a project starts however, based on an understanding of the high-level work of a project where development is required in multiple applications, application owners provide level of effort estimates in hours, and then to estimate cost, we take those hours and multiply it by a standard hourly rate obtained from HR determined I'm guessing based on an average rate of developers in the company.
If the problem is Over half of the active projects are exceeding budget somewhere around being 50-75% complete? What might be some root causes of this to look into and possible solutions to at least reduce the number of projects exceeding planned cost thresholds?
IDEAS, RECOMMENDATIONS ANYONE? Saving Changes...
