Real Options: Next Stop XPDay London 2008

Conversation overheard in a galactic corridor

(At an Agile conference in a galaxy near you)

A: I am Agamemnon the Agile.
P: That’s nice for you.
A: I am Leader of the Alliance.
P: There are many alliances.
A: Join us.
P: Thanks, but I prefer to keep my options open.

What are Real Options?

Real Options is a decision-making process for managing uncertainty and risk. It’s a simple and powerful approach that helps us make better informed decisions, as individuals and in groups, by understanding and responding to the psychological effects uncertainty has on our behaviour.

Real Options means:

  1. You don’t have to decide now (aka ‘Decide at the last responsible moment’)
  2. But you know when to decide
  3. Keep as many options open for as long as possible
  4. Actively gather information until you have to make the decision
  5. Only commit when you must or when you have a good reason to.

A Real Option:

  • Has a value
  • Has an expiry date or condition
  • Costs: cost of buying the option + cost of exercising the option.

The idea of applying Real Options in Agile comes from Chris Matts. You can read more about the original concept here.

The Real Options Space Game: The New Frontier

Pascal and I began working on the idea of a Real Options game after co-presenting a Real Options session at SPA 2008 with Chris back in March this year. Within a month, Pascal and I had a first version of the Real Options Space Game ready for trial in London. Since then, we’ve played it at Agile North and XPDay France.

The Real Options Space Game *New* Version 2.0

During our travels far and near, we’ve encountered many different species of Agilistas and made many friends. We’ve learnt to think more deeply about options and opportunities, for ourselves and in relation to others. Most important of all, we’ve stumbled across the secret to preserving galactic peace.

Meanwhile, Pascal and I’ve been tweaking and polishing the game thanks to the feedback from all the players. We’re pleased to announce that version 2.0 of the Real Options Space Game is now ready for play.

Go, go game play!

Come join us at XPDay London (11 – 12 December) if 1) you think you can take on the ultimate challenge in common sense; 2) you want to know the secret to preserving galactic peace (it’s this kind of general knowledge that gets Agilistas out of tricky spots of bother).

3 Responses to “Real Options: Next Stop XPDay London 2008”

  1. Thinking for a Change » Spaceships over London - Real Options at XP Days writes:

    […] Options Space Game is a board game for 4-7 players that lets you play with Real Options concepts. Portia and I will be running two games in parallel (in parallel universes?), so that we can compare many […]

  2. Thinking for a Change » Real Options in the Real World writes:

    […] Friday, Portia and I will present the “Real Options Space Game” at XP Days London. This strategy board […]

  3. Al’s Blog » Blog Archive » My notes from XP Day 2008 writes:

    […] Tung and Pascal Van Cauwenberghe hosted the Real Options Space Game. I’d not heard of Real Options before the game, but i’d played a previous game with […]

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