Prioritizing Initiatives with Rough Order of Magnitude Estimations
When it comes to project management, estimating the complexity and effort required for a given initiative can be a daunting task. However, making informed decisions about which initiatives to pursue requires a basic understanding of the resources involved. This is where rough order of magnitude (ROM) estimations come into play.
What are ROM Estimations?
ROM estimations are high-level assessments that provide a preliminary estimate of the effort and resources required for a given initiative. The goal is not to provide an exact figure, but to give a rough idea of the complexity and effort involved. This allows teams to prioritize initiatives, assess budget, and plan timelines more effectively.
Inputs for ROM Estimations
Unlike detailed estimations, ROM estimations do not require a well-described product requirement document or a product backlog. Instead, teams can use various inputs such as:
- Basic Wireframes: Initial wireframes can help teams visualize the final design and identify potential functionalities.
- User Flow Diagrams: These diagrams map out the user’s journey, highlighting touchpoints and interactions with the product.
- Epics and Themes: High-level themes and epics can be used to identify key features and functionalities.
High-Level Estimation Techniques
There are several techniques used for ROM estimations, including:
- T-Shirt Sizing: Breaking down the initiative into smaller chunks and estimating the effort required for each chunk.
- Sprints: Estimating the number of sprints required to complete the initiative.
- Story Points: Using story points to estimate the complexity of the initiative.
Adjusting Boundaries
ROM estimations tend to be inaccurate, and teams often underestimate the effort required. To mitigate this, teams can adjust the boundaries of their estimates by lowering the most optimistic estimate and increasing the most pessimistic estimate.
Rough Order of Magnitude Template
By using ROM estimations, teams can prioritize initiatives based on their impact-effort ratio. This involves:
- Identifying multiple initiatives
- Conducting high-level ROM estimations
- Re-assessing the initiatives based on the estimates
- Choosing the initiatives with the best impact-effort ratio
Key Takeaways
ROM estimations are a crucial technique for prioritizing initiatives, assessing budget, and planning timelines. By building a culture of quick, high-level estimations, teams can reduce the risk of committing to excessively complex ideas and maximize the chances of finding the best impact-effort solutions.