Companies wishing to adopt agile de

Companies wishing to adopt agile development and project management frame¬works must overcome the following key challenges:
Misconceptions about Agile Approaches
In the debate about traditional versus agile methods, many myths and misconceptions have evolved on both sides of the conversation including:
• Agile methods are just thinly disguised hacking
• Agile practitioners look on requirements definition and design as "not adding customer value" and as "ceremony" to be avoided
• Agile practitioners do not plan
• Agile methods conflict with PMI's A Guide to the Project Management Body of Knowledge (PMBOK®Guide) and traditional project management practices
• Agile projects can be done quicker, with fewer resources and without a project manager
Project Portfolio Management
Agile approaches are best suited for innovative, exploratory/experimental, "never- been-done" projects such as new software systems with requirements emerging as development proceeds or new product development efforts for a quick-moving marketplace like consumer electronics. Agile approaches are probably not the best fit for repetitive, well-documented, low-variability, low-uncertainty, production-style projects. Project portfolio management (PPM) is a criteria-based decision making model for allocating scarce organisational resources to the most critical programmes and projects. Companies have to view "traditional" and "agile" projects within their portfolios through different lenses. Where traditional projects may be funded using a well-worn forecasting process, a company calendar (e.g., fiscal quarter or year), or project milestones, agile projects may have to be funded iteratively based upon their deliverables and changing requirements. Many organisations have difficulty managing a bifurcated project portfolio.