IT Estimation Best Practices Checklist

Report Summary

IT Estimation Best Practices Checklist

Robert McIsaac
Head of Life Insurance, Annuities, & Benefits

June 2013 - The process of developing good and credible estimates is foundational to any business process that leads to the commitment of scarce resources to achieve a desired outcome. Whether it is constructing a building, creating an asset for sale or developing new systems for an insurance company, the issues are essentially the same: the development of viable estimates leads to decisions around commitment and establishes expectations about future state outcomes. Unfortunately, IT organizations (across many industries) are frequently viewed as being particularly poor performers in this arena. This is especially problematic since the ability to develop, and live within, these estimates is at the very foundation of an effective IT governance process. This is, in turn, a cornerstone for the ability for companies’ to deliver on their strategic plans. While the stories of poor estimation efforts can be legendary, the very credibility of IT organizations within insurance carriers is tightly, and inextricably, linked to their ability to perform well in this critical dimension.

CONTENTS

Introduction…2
Checklist of Best Practices…3
Relationships…4
Transparency…5
Reporting…6
Dedicated Funding…8
Communication…9
Governance…10
Change Management…11
Agile…12
Learnings…13
Concluding Thoughts…14
About Novarica…15

 

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