What is the Inventory of your Software Development project ?
 Like this:Like Loading......
Applying Little’s Law to Agile Project Management - Part 2
Second part of my article on exploring how Little’s Law related to the Agile Project Management just got printed in PM World Today. Here is the abstract: Little’s Law states that inventory in a process is the multiplication of throughput and the flow-time. In first paper of this two-part series, we took an every-day example to discuss Little’s Law at length. We also briefly looked at the implications of Little’s Law for manufacturing and for software development. In traditional manufacturing, there is a strong emphasis on plant capacity utilization as a core driver in cost management. However, a high plant capacity utilization requires (or rather leads to) high inventory to ensure the production doesn’t slow down for want of raw materials. High inventory in turn leads to a low inventory turnover, signifying poor sales, thus having high economic implications. Inventory is...
Applying Little’s Law to Agile Project Management
My article by this title got published in PM World Today, Nov 2008 issue. Here is the abstract: Little’s Law states that inventory in a process is the multiplication of throughput and the flow-time. While this seems intuitive, it helps us establish a mathematical relationship between basic factors that govern performance of a production process: arrival rate (or the flow-time or the cycle time), manufacturing lead time (or the throughput) and the inventory present in the system at any point of time (or the work in progress). The law has been found to hold good as long as these three parameters represent long-term averages of a stable system and they are measured in consistent units. Little’s Law has its origins in manufacturing, but it also very relevant to a project manager in non-manufacturing setup. An in-depth understanding of Little’s...