How do you estimate time and resources in Agile projects

Question

How can Agile teams effectively estimate time and resources to ensure successful project delivery without compromising flexibility and adaptability?

Answer 1

Estimating Time and Resources in Agile Projects:

1. Story Points & Velocity: Teams use story points to estimate effort, not time. Velocity measures how many points the team completes per sprint, helping estimate future work.
2. Planning Poker: Team members assign story points to tasks and then discuss them to reach a consensus on effort and complexity.
3. Time-Boxing: Work is planned within fixed sprint durations (2-4 weeks), focusing on what can be completed, not exact hours.
4. Resource Allocation: Estimate team capacity and assign resources based on skill and availability, adjusting as the project evolves.

Example:

In a feature development project, the team estimates tasks in story points (e.g., 8 for design, 5 for dev). With a velocity of 20 points per sprint, they estimate two sprints to finish the feature.