Important projects in the portfolio backlog need to be delivered. Budget estimates are needed to prioritize the projects. How should the project budgets be estimated?
A.
The project is decomposed into features and based on the feature value and the velocity of the team, the team provides the estimate
B.
Budget estimates are provided based on the experience of the sponsor, product owner and team facilitator
C.
The team facilitator uses historical data and arrives at an estimate based on the nature of the project.
D.
The product owner obtains all project details and based on the team's experience and velocity provides a budget estimate
But the team only provides the effort and time. The question is asking about estimating the budget. It should be B - Project Manager, PO & Team, I believed. Any thoughts?
Rem, this is a portfolio backlog and prioritization is done at the portfolio level, so most likely the projects have not started. so there is no team, no product owner.
All the team of the project with the sponsor, PM and PO make the estimation of the budget. Each member make the estimation about his part collects the data and completes the estimation of the budget.
1. The question doesn´t talk abuot Prject Team decide about the product backlog, it just ask about how the Project budget must be estimated ""How should the project budgets be estimated?"".
2. Budget is performed by accumulating all the Project Costs and Project Cost is performed by estimating each story user by the Project Team.
Based on Andrew Ramadyal, best approach the team for schedule, cost, and work estimates.
B is wrong.
Budget estimates are provided based on the experience of the sponsor, product owner and team facilitator
1.) Seriously? Ask the sponsor for budget estimate of YOUR project?
2.) Product Owner doesn't need to worry himself of cost. This is from PMI studyhall.
IT'S THE TEAM WHO BEST KNOWS THE ESTIMATE. NOT THE SPONSOR, PRODUCT OWNER, OR THE FACILITATE. THEY ARE CONSIDERED THE SME!!!! NOT THE PROJECT LEADS!!!!
The Portfolio Backlog is a Kanban system that is used to capture and manage the business and enabler epics intended to create and evolve the portfolio's products, services, and solutions.
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