4 ms·
This isn't a problem unique to software engineering. All kinds of things in business require estimating the unknowable. Investing in any business enterprise re
by unoti 10y ago
This isn't a problem unique to software engineering. All kinds of things in business require estimating the unknowable. Investing in any business enterprise requires forecasting what the return on investment is and how long it'll take before you see those returns. These issues exist whether you're starting a hot dog stand, building an apartment complex, bringing a software product to market, or building an off shore oil rig.
Business people have put a great deal of worthwhile thought into how to manage these risks in ways that make sense for the company. For some fresh, eye opening ideas on how to do project management for software and other businesses, check out the book The Critical Chain. The short section at the end on metrics for investment is worth the price of admission alone.