Most of the time is spent on creating CM tickets and getting R4 approval.
Its a royal pain the butt and frustrating the he-l out of engineers.
Its about delivery now going forward.
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You're joking right? Did you really expect the scrum masters to have the power to totally revamp the way releases are approved at Fidelity? Who will you have as your whipping boys/girls after scrum masters are no more? As a former scrum master, I had to be creative in freeing up the team from this paper work and chasing down approvals so the team could focus on coding. I did it because it was called out as an impediment by my teammates. That's the way it works. The point of agile is for everyone on the team to be accountable. This board is full of salty software engineers who seemingly live to bash anyone in an agile role. Now you're happy I guess. Check in again when they offshore your job or decide that you can be replaced with AI. At least a bot won't point fingers and whine.
Decent Scrum Masters would have worked hard to change that and remove the red tape. They would have worked to create a DevOps and Quality mindset needed so releases could be on demand.
Too bad Agile was such theater at Fidelity, and the wrong coaches and Scrum Masters were hired. This theater goes back at least a decade.