How to Measure Anything, Finding the Value of “Intangibles in Business” Third Edition

How to Measure Anything, Finding the Value of “Intangibles in Business” Third Edition

Chapter 13 of How to Measure Anything, Finding the Value of “Intangibles in Business” Third Edition is the second chapter in the final section of the book.  Hubbard titled Chapter 13:  New Measurement Instruments for Management.  Hubbard shifts gears in this chapter to focus the reader on the new tools that our dynamic, electronically-tethered environment has created.  Here is a summary of the chapter in a few bullet points:

  • Everyone creates data that is trackable and measurable.
  • The internet is a measurement instrument
  • Prediction markets are a way to synthesize  

(more…)

HTMA

How to Measure Anything, Finding the Value of “Intangibles in Business” Third Edition


Chapter 12 of How to Measure Anything, Finding the Value of “Intangibles in Business” Third Edition is the second chapter in the final section of the book.  Hubbard titled Chapter 12 The Ultimate Measurement Instrument: Human Judges.  The majority of HTMA has focused on different statistical tools and techniques.  This chapter examines the human as a measurement tool.  Here is a summary of the chapter in a few bullet points:

  • Expert judgement is often impacted by cognitive biases.
  • Improve unaided expert judgment by using simple (sic) statistical techniques.
  • Above all else, don’t use a method that adds more error to the initial estimate.

(more…)

HTMA

How to Measure Anything, Finding the Value of “Intangibles in Business” Third Edition

Chapter 11 of How to Measure Anything, Finding the Value of “Intangibles in Business” Third Edition begins the fourth and final section of the book.  This section addresses topics that are beyond the basics. Hubbard titled Chapter 11 Preferences and Attitudes: The Softer Side of Measurement.  The softer side is a euphemism for attitudes and opinions.  Here is a summary of the chapter in a few bullet points:

·         Measure opinions and feelings.

·         Design out bias in surveys and questions.

·         Observe opinions and feelings through trade-offs.

·         Use trade-offs to describe risk tolerance. (more…)

 How to Measure Anything, Finding the Value of “Intangibles in Business” Third Edition

How to Measure Anything, Finding the Value of “Intangibles in Business” Third Edition

Chapter 10 of How to Measure Anything, Finding the Value of “Intangibles in Business” Third Edition is titled, Bayes: Adding to What You Know Now.  Here is a summary of the chapter in a few bullet points:

  • Prior knowledge influences how we process new information.
  • Bayesian statistics help us move from what we know to what we don’t know.
  • We are all Bayesian to some extent, but maybe not enough.
  • Many myths about using information are just plain wrong, and Bayes proves it.

(more…)

His portfolio doesn't look so healthy.

His portfolio doesn’t look so healthy.

As we have noted in past entries, effective measurement is a balance. The five Agile Portfolio Metrics Categories as whole represent a pallet from which an organization can craft a balanced set of Agile metrics. The goal of any measure is to reduce the uncertainty the organization is facing.  Value and portfolio health metrics shift the discussion from the high-level management of the distribution of work (who is doing what for whom) to the value of work (value metrics) and how the activities across a portfolio of work are perceived (portfolio health metrics). Each category is targeted on its own set of specific questions, but each category can and often does influence another category. We break down the second two categories below. (more…)

532154894_d077e58fbf_z

Portfolio metrics provide direction

Agile portfolio metrics are integral to prioritization and validating the flow of work. The term portfolio has many uses in a software development organizations, ranging from product portfolios to application portfolios.  I have even seen scenarios where organizations put all their development, enhancement and maintenance efforts into a single bucket for prioritization and queuing until there was the capacity to work on them.  We will use an inclusive definition of the portfolio to include, at a high level, all the software development and enhancement work in an organization. Products, lines or business, and even applications are often used to define portfolios.  I break Agile portfolio metrics into five high-level categories. (more…)

HTMA

How to Measure Anything, Finding the Value of “Intangibles in Business” Third Edition

Chapter 8 of How to Measure Anything, Finding the Value of “Intangibles in Business” Third Edition, begins the third section of the book.  Part III is focused on Measurement Methods.  Chapter 8 is titled, The Transition: From What to Measure to How to Measure. This is where you roll up your sleeves, crack your knuckles and get to work. Whenever you are beginning something new, the question of where to start emerges.  If I were to summarize the chapter in three sentences I would say: (more…)

Follow

Get every new post delivered to your Inbox.

Join 5,181 other followers