Scrum Master Toolbox Podcast

BONUS: Mastering the Art of Forecasting, Prioritization Paradigms and Flow Metrics with Troy Lightfoot Agile Planning Insights From The Gambler's Ruin Thought Experiment Troy, in this Agile Uprising podcast episode, delves into his intriguing journey in the realm of forecasting and estimation for software development. Inspired by that episode, we discuss the concept of Gambler's Ruin, a mathematical problem turned into a game. Troy shares the main insights from Gambler’s Ruin and mentions Prateek Singh of ProKanban.org who has used this concept to demonstrate that even a slight skill advantage can lead to success when focusing product development on what Troy calls “Small Bets”  Small bets and impact on prioritization Small bets relate to the implications of spending money on a product idea. It's not just an expense; it's an investment with an anticipated return on investment (ROI). The crucial question arises: how do we strategically place these bets in product development? Here, Troy exposes the