An agile project will be delivered to a client based on a fixed price in cryptocurrency. Due to the volatility of cryptocurrency, both parties have agreed to adjust the scope to the value of the cryptocurrency at the end of every iteration and halt the project when the agreed price is reached.
Which approach should be used in this situation?
Given the dynamic nature of cryptocurrency values, the project requires flexibility. An incremental approach with a minimum viable product (MVP) is ideal as it allows for delivering functional, usable parts of the product early and continuously. This also means that if the project is halted due to reaching the agreed price, the client will still have a working product with essential features.
sorry typo Answer is B. key words “ will be delivered when fixed price reached” . it means single delivery. “scope adjusted every iteration” means activities repeated until correct. This reflects “Reliability of the solution” not the speed to deliver the solution”. so its iterative approach
As the delivery is based on volatility of crypto, the best part is to pick story which will give high value for customer and release until the agreed value of cryptocurrency is reached. This is actually WIN WIN situation for both parties.
Any Agile Project , irrespective of the Contract or any financial binding will always go for delivering the highest value items first So option B
It could end early somewhat unexpectedly so I was thinking maybe building an MVP first night make sense. Kind of waffling.
Keyworks: - agreed to adjust the scope... at the end of every iteration Best answer are B or D. B. An iterative approach starting with the highest value epic. D. An incremental approach with a minimum viable product (MVP). I think best answer is B since it provides a working solution right from the 1st iteration. Subsequent iterations will refine the product. However D is about adding new features as we go along. So B be might gives "best value", while D might not. Just my guess. You choose you own poison
An iterative approach is useful if the focus is on the correctness of the solution. The team might run out of budget without being able to achieve any working results. Whereas, an incremental approach promotes providing value to the customer as early as possible. If we combine it with MVP, the chances of getting something valuable & working before the budget runs out are higher.
Answer is A. key words “ will be delivered when fixed price reached” . it means single delivery. “scope adjusted every iteration” means activities repeated until correct. This reflects “Reliability of the solution” not the speed to deliver the solution”. so its iterative apprach.
I guess the key words in the question simply are "at the end of every iteration". Therefore answer must be (B) even if I personally dislike the question scenario and the iterative approach ;-)
Because we need to release in each iteration base on the cryptocurrency price. so B is correct
Iterative - > Overall solution, then refine areas that need improvement, project might be halted before overall solution can be produced. Incremental -> Building and releasing one usable feature at a time, even when project is halted at any point, client has a workable product.
The project manager should use **an incremental approach with a minimum viable product (MVP)** (Option D). This approach allows the team to deliver value early and often, with each increment adding to the functionality of the product. Given the volatility of cryptocurrency, this approach allows for flexibility in adjusting the scope based on the value of the cryptocurrency at the end of each iteration. It also ensures that the project can be halted when the agreed price is reached, while still delivering a functional product to the client. This approach aligns well with Agile principles, which emphasize customer satisfaction through continuous delivery of valuable software.
Given the unique situation where the scope is adjusted based on the value of the cryptocurrency at the end of every iteration, the best approach would involve delivering maximum value as early as possible, ensuring that the client gets the most essential features before the agreed price is reached.
D, since B may give you a huge nice Epic, concluded in an incomplete project. Let's think: The project: Online store The Epic: Make all the pages for Create, Read, Delete and Update products in the store and the user panel to add items on the cart and pay. 2% of the total price payed will be cash-backed in points to give the users discounts Story that is not in the epic: Login system with "I forgot my password" It seems stupid to put it like that but we should first point to the MVP and then think of adding epics that may be so big that may consume the whole budget
D They will halt (stop) the project when price is reached and not deliver when price is reached. Definitely the answer is D
B. An iterative approach starting with the highest value epic
"adjust the scope to the value of the cryptocurrency" which mean once the financial budget value is finished "halt the project when the agreed price is reached". It should not be Iterative approach which is referring to perfection and only has a single delivery. if we use iterative approach, there may not have any working solution once the budget is finished.. It should be 'incremental' and MVP, giving working solution at the end of each iteration until the budget is exhausted. so I select D it is
Choose D as Option B suggests starting with the highest value epic, which may not be appropriate in this situation as the scope needs to be adjusted based on the value of cryptocurrency at the end of each iteration. It may be difficult to determine the value of each epic at the end of each iteration, and it could result in the project being halted prematurely or scope creep. Therefore, a more flexible approach, such as option A or D, may be more appropriate
Since they might need to stop in case of dramatic value changes, flow based method is better: "A flow-based Agile process simply focuses on releasing value to the customer as soon as possible in a continuous flow (i.e., whenever a functionality is complete). The idea here is to keep the batch size of work as small as possible to make its “flow” through the process and ultimate market delivery more efficient."