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What should the agile hierarchy look like for one team that works on multiple projects?

Question asked by d608d7ee54c8879f98234dfa1975edc1 on Dec 30, 2015
Latest reply on Jan 13, 2016 by f078446e7a8acc859737c31ddc3edf4c
tl;dr: For one team working on many projects, should projects be created as sepearate CA agile 'projects'? Or should they be created as portfolio items?

I'm the product owner for multiple projects (7+) that are all largely worked on by one team. I'm having difficulty determining the best practice for how this team should be organized in the CA Agile space. Here are my options:

Option 1: CA Agile Workspaces/Projects
Team 1
-- Project 1
-- Project 2
-- Project 3
-- Project 4

-ability to view/set capacity for my team members per project
-having a 'project' column that I can sort/filter on to answer the question 'what's being worked on on project 3 this sprint?'
-as far as I can tell, quite a bit of administrative overhead, managing permissions, adding/removing users to the team (i need to do it 4 times, instead of just once)
-CA agile hiearchy documentation is confusing, not sure if what I'm attempting here is a bad idea for some reason I won't find out about until later

Option 2: One team 'workspace', projects managed by portfolio items
Team 1

Portfolio  (program? not sure what terminology is appropriate here)
Project 1
Project 2
Project 3
Project 4

-Easier administration/creation
-Permissions handled on a team level, rather than a project level

-Can't seem to easily view/sort per high level portfolio item
-Can't set team capacity per project

Any insight would be greatly appreciated!