Save £12 Million every year > Save £3 Million every quarter   
The Big Agile Toolkit: no Dogma, no Bias, no Accreditation, no Exams & no Fees   
 Agile Cost Measurement Rules  Agile Cost Measurement Rules   Cost data collection   Cost data collection

Manage   »   Cost   »   Currency


First of all we should discuss currency. If you have a project that is based in just one country the developers, the business, your testing team and the rest of the project are all based and the costs are likely assigned in that country. Therefore, we would traditionally assume that the currency of the country would be used as the currency. This is often but not always the case.

Often times a corporation is based in one country whilst its projects are delivered and costs are applied in another. This is often the case for companies that deliver to customers in other countries. These customers often require the project costing to support their home currency. It happens in organisations whose industry is pegged to a particular currency as in the oil industry, pegged to the US dollar. Whatever the agreed currency, it is important to agree the currency that you will use to measure project costs from the outset.

We do not want debates about currency rates, currency rate changes and rate fluctuations that occur at various times throughout the project. This further complicates the project that we are trying to deliver. It will also further complicate cost measurement, project cost data collection and the communication of your projects financial success. If you are mandated to cost a project in one currency and communicate in another then, you will agree conversion rules.

You will likely agree either a standard rate at which the project costs are converted from currency one to currency two or have a mechanism to demonstrate the rate that was used in currency conversion. As you can see, if you can, keeping your project in one currency will help minimise the cost measurement complexity, substantially and whatever currency you choose be truthful and accurate with identifying true costs and true benefits.

Buffer



 Agile Cost Measurement Rules     Agile Cost Measurement Rules   Cost data collection    Cost data collection



Glossary:     a  »   b  »   c  »   d  »   e  »   f  »   g  »   h  »   i  »   j  »   k  »   l  »   m  »   n  »   o  »   p  »   q  »   r  »   s  »   t  »   u  »   v  »   w  »   x  »   y  »   z


#personas  »   #artefacts  »   #archetypes  »   #patterns  »   #change  »   #personas  »   #increasingoutput  »   #reducingvariation  »   #improveefficiency  »   #abstraction  »   #predictionandcontrol  »   #management  »   #organisations  »   #socialnetworktheory  »   #failfast  »   #quality  »   #waste  »   #complexity  »   #learning  »   #adapt  »   #inspect  »   #improvement  »   #models  »   #complexadaptivesystems  »   #informationflow  »   #sytemsthinking  »   #butterflyeffect  »   #unpredictability  »   #chaos  »   #emergence  »   #emergentbehaviour  »   #distributedcontrol  »   #continuousimprovement  »   #complexityscience  »   #gametheory  »  
 Agile In 6 Steps    |    Projectivity    |    Instant Agile    |    Risks    |    Auditing Agile Projects 
Big Agile Toolkit Book (Amazon Japan)   |   Big Agile Toolkit Book (Barnes and Noble)
Buy the Big Agile Toolkit Book   |   Buy the Big Agile Toolkit Kindle eBook
Currency






   


The Big Agile Toolkit

 SPADE: Successful Pragmatic Agile Delivery Everytime™ 
   
Topic: 133  Page: 95/444  Progress: 21.4%
 About    |    Author 
Follow @BigAgileToolkit


This content can be copied to third parties for personal use if you acknowledge the source of the material with website URL (http://www.bigagiletoolkit.com/) and Twitter hashtag (#BigAgileToolkit).
In all other cases, no part of bigagiletoolkit or associated text or website may be copied reproduced or redistributed in any form or by any means without prior permission in writing from the author.
Agile Project Governance for Cost Conscious Companies™

All rights reserved.