Business Value Of Agile Project Management

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Agile is relating to or denoting a method of project management, used especially for software development that is characterized by the division of tasks into short phases of work and frequent reassessment and adaptation of plans. "Agile methods replace high-level design with frequent redesign". It promotes adaptive planning, evolutionary development, early delivery, continuous improvement, and encourages rapid and flexible response to change. About 199,000 number of books and web sites are available on this topic. Below chart is the use over time for the agile. Evidence of Success of Agile Projects
Early results of a study on the effects of agile development practices are showing improvements in productivity and quality.
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Results of agile projects have also been published by David F. Rico in his paper on “The Business Value of Using Agile Project Management for New Products and Services”.
An early study of agile project management showed 10% to 20% improvements in revenues, quality, and cycle time, and 54% reductions in costs. Another early study showed 50% to 60% reductions in time to market and costs, along with 10 times higher development flexibility.
The paper from David includes data from several studies on the results of agile project management:
Agile project management benefits come from many factors that are too numerous to mention here. The primary drivers are increased productivity and quality. Productivity comes from its streamlined nature and quality from its uncompromising discipline. However, its real power comes from its adaptability to change, collaborative nature, and focus on bottom line business results for the
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The report goes so far as to say, “The agile process is the universal remedy for software development project failure. Software applications developed through the agile process have three times the success rate of the traditional waterfall method and a much lower percentage of time and cost overruns.” (Page 25) The Standish Group defines project success as on time, on budget, and with all planned features. They do not report how many projects are in their database but say that the results are from projects conducted from 2002 through 2010. The following graph shows the specific results

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