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Learn all the basics of Project Management, in a structured program: https://geni.us/PM_CoreCourses My project management courses with Voovo open soon: my videos, turned into questions you answer and brought back before they fade. 10% off if you sign up now: 👉 https://www.voovostudy.com/s/HyErV In this video, I want to answer the question, What is a Burndown Chart and a Burnup Chart? And What is Velocity? A Burndown chart is a way to visualize progress. It plots outstanding work against time. So, as you make progress, the work outstanding diminishes, giving the characteristic downward slope of a burndown chart. If, instead, we plot work completed against time, as you make progress, the work completed increases, to give the characteristic upward slope of a burnup chart. Burn charts are most often used in Agile Project Management. There, the time axis will usually represent a single iteration, or Sprint. The time units will most often be days and the work units, either estimates hours of work, or story points. Velocity describes the rate at which work is done and deliverables are produced. Note that it does not measure efficiency, since there is no way to create a reliable baseline of ideal velocity in a project environment, where there can be no long-term performance data. We calculate velocity as the amount of work completed divided by the time elapsed. Typically, velocity is calculated over the time frame of a complete iteration or sprint. Recommended Videos Carefully curated video recommendations for you: 🎬 How to do a Basic Agile Project https://youtu.be/6PqmHhJFXp4 🎬 What is Scrum Project Management? https://youtu.be/CVmNgMxe0rk 🎬 What are Epics, User Stories, and Story Points? https://youtu.be/ogV2r9579WI 🎬 Introduction to Agile Scrum Project Management - with Alexis Allen https://youtu.be/a6vyQEZipno 🎬 What is a KPI? What are KPIs? Key Performance Indicators https://youtu.be/soiChkomKmo 🎒 A while back, I asked Project Managers in a couple of forums what material things you need to have, to do your job as a Project Manager. They responded magnificently. I compiled their answers into a Kit list. https://kit.co/MikeClayton/what-a-project-manager-needs Note that the links are affiliated. 🎬 For more great Project Management videos, please subscribe to this channel: https://www.youtube.com/channel/UCMZfp1_wquyegVY9SoER0Nw?sub_confirmation=1 🎁 For all our great Project Management articles and resources, please check out the OnlinePMCourses website: https://onlinepmcourses.com/ 🏛 For basic Management Courses - free training hosted on YouTube, with 2 new management lessons a week, check out our sister channel, Management Courses: http://youtube.com/c/managementcourses 🎓 For more of our Project Management videos in themed collections, join our Free Academy of Project Management: https://onlinepmcourses.com/free-academy-of-project-management/ ⏱ Chapter Markers... 00:00 - What are a Burndown Chart, a Burnup Chart, and Velocity? 00:17 - Burndown Charts and Burnup Charts 00:39 - The Burndown Chart 00:55 - Burnup Chart 01:38 - Units used on Burn Charts 02:10 - Progress against schedule 03:06 - Progress lagging 03:29 - Progress ahead 03:55 - Velocity 04:48 - How we calculate velocity 06:11 - Velocity and Scrum 06:36 - Final thoughts #ProjectManagement #BurndownCharts #AgileVelocity

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