Fibonacci Scale Template
Estimate and assign points for tasks during a work sprint.
About the Fibonacci Scale template
What is the Fibonacci Scale?
The Fibonacci sequence contains exponentially increasing numbers. That’s why agile teams have come to use the Fibonacci Scale for business. When managing a team, it’s often important to estimate how long it might take to complete a given task. More complex tasks are assigned more points, and smaller tasks are assigned fewer points. Managers can then review and prioritize tasks depending on their points. The Fibonacci Scale is used to assign those point values.
What is the significance of the numbers in the Fibonacci Scale?
The numbers in the Fibonacci Scale are based on the Fibonacci Sequence. In this sequence of numbers, each number is the summation of the two previous numbers. In the context of Scrum, the numbers represent the level of complexity and degree of difficulty involved in completing a task. For example, a task assigned “0” points would be very simple and quick to complete, a task assigned “1” point would be slightly more complex or time-consuming, and so on and so forth. Since the scrum approach generally works in one-week sprints, it’s unlikely that many tasks will be assigned “21.”
Why use the Fibonacci Scale?
The Fibonacci Scale is a useful tool for a variety of reasons. For one, it’s exponential. When estimating how long it might take to complete a task, it’s much easier to estimate time for shorter tasks than to estimate time for longer tasks. An exponential scale reflects that growing uncertainty. As you move up the scale, the numbers become much larger very quickly.
Relatedly, the Fibonacci Scale forces your team to make a choice. For example, when estimating time for a complex task, you ask “is it an 8, 13, or 21?” and there is no in between. This is an intuitive anchoring mechanism that cuts down on debate and helps you make clear judgment calls.
Overall, the Fibonacci Scale is a powerful method to ensure that work is distributed evenly and can help ensure that everyone is accurate when estimating the work and time involved in a project. If your team uses this approach on an ongoing basis, you are likely to become more accurate and avoid overcommitting during each sprint.
A work plan is essentially a roadmap for a project. It articulates the steps you must take to achieve the desired goal, sets demonstrable objectives, and establishes measurable deliverables. An effective work plan guides you throughout the project lifecycle, allowing you to realize an outcome by collaborating with your team. Although work plans vary, they generally contain four core components: goals, strategy, tactics, and deliverables.
The Sailboat Retrospective is a low-pressure way for teams to reflect on how they handled a project. By defining your risks (the rocks), delaying issues (anchors), helping teams (wind), and the goal (land), you’ll be able to work out what you’re doing well and what you need to improve on for the next sprint. Approaching team dynamics with a sailboat metaphor helps everyone describe where they want to go together by figuring out what slows them down and what helps them reach their future goals.
Action Priority Matrix
You and your teammates probably have more ideas than resources, which can make it difficult to prioritize tasks. Use an Action Priority Matrix to help choose the order in which you will work on your tasks, allowing you to save time and money and avoid getting bogged down in unnecessary work. An Action Priority Matrix is a simple diagram that allows you to score tasks based on their impact and the effort needed to complete them. You use your scores to plot each task in one of four quadrants: quick wins, major projects, fill-ins, and thankless tasks.
A risk matrix--also known as a probability matrix, risk assessment matrix, or impact matrix--is a tool that allows you to evaluate overall risk by visualizing potential risks in a diagram. The tool allows you to weigh the severity of a potential risk against the probability that the risk might occur. Risk matrices are useful for risk management because they visually represent the risks involved in a decision. This empowers you to avoid worst-case scenarios by preparing contingencies or mitigation plans.
When you’re building a business or running a team, risk comes with the territory. You can’t eliminate it. But you CAN identify it and mitigate it, to up your odds of success. Failure Modes and Effects Analysis (FMEA) is a powerful tool designed to help you manage risk and potential problems by spotting them within a process, product, or system. And you’ll spot them earlier in your process—to let you sidestep costly changes that arise late in the game or, worse, after they’ve impacted your customers and their experience.
Blue Ocean 4 Actions Framework
For entrepreneurs, so much comes down to new users—how to attract them, impress them, and convert them to loyal customers. This template, designed by the authors of Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant, will help you maximize value for you and your customers alike. Using the template’s four steps (divided into easy columns), you’ll easily evaluate your products in more innovative ways and make sure money is being spent in areas that really matter.