Backlog Grooming- Done as an Agile ceremony, backlog grooming is when the project team reviews the backlog of features, epics, and user stories to ensure the project team is working on the highest priority user stories during the upcoming sprint. Ensure your team focuses on what matters most with tailored Agile strategies from Elevate Blueprint.
Backlog Prioritization- Similar to backlog grooming, backlog prioritization is when the project team reviews the backlog of tickets and ensures the highest priority tickets are added to the top of the backlog.
Benchmark- A project benchmark is a reference point or standard used to assess the performance, progress, or success of a project. It serves as a comparison or measurement tool to evaluate various aspects of a project, such as schedule, cost, quality, and scope. Project benchmarks can be derived from historical data, industry standards, best practices, or specific project goals and objectives. By establishing benchmarks, project managers can track the project's performance against predetermined targets, identify areas for improvement, and make data-driven decisions to ensure the project stays on track and meets its desired outcomes.
Benefits Realization- Also known as benefits, these are the net improvements or changes that the project provides. Benefits are often seen as outcomes the project is aimed at. Success metrics should be developed with benefits in mind to ensure the project manager can track if benefits were achieved. Maximize project impact and track benefits effectively with guidance from Elevate Insights.
Best Practices- Best practices refer to the approaches, tools, and techniques that have the most positive effects or results for businesses. By understanding project management or industry-specific best practices, project managers can adjust planning and execution to achieve optimal outcomes.
Buffer Time- Also known as slack time, buffer time is the intentional time added to a project’s schedule. This provides contingency for unexpected delays, making stakeholder expectation management easier and reducing the need for change requests or additional funding. Build effective contingency plans with scheduling strategies from Elevate Optimize.
Bug Fixes- Bug fixes address software issues identified during development, beta testing, or post-launch. By integrating bug fixes into the quality plan, teams can decrease rework, enhance customer satisfaction, and improve brand reputation.
Burn Rate- Burn rate refers to the rate at which the project team is using its financial resources. Monitoring burn rate helps project managers determine resource efficiency and better utilize remaining resources.
Burn Up Chart- A burn-up chart depicts the amount of completed user stories or story points over time, helping teams determine velocity or the rate of user story completion. Track and visualize project progress effectively with dashboard tools from Elevate Metrics.
Business Case- A business case assesses an organization’s strategic objectives and provides rationality for expected return on investment, value creation, and outcomes. It is developed prior to the project charter and helps define the project’s parameters. Develop impactful business cases with strategic planning guidance from Elevate Vision.
Final Thoughts
Whether you’re improving quality management, refining risk strategies, or optimizing workflows, having the right tools is essential. Take the next step toward success by exploring our Elevate Product Line to find the right fit for your project management needs!