A project is not complete until it starts delivering benefits or profits to the owner of the project.
Following best techniques and using best resources while development of the project is of no use unless and until the project starts giving returns.
To know more kindly refer to the below mentioned link:-
http://www.pmhut.com/is-a-project-complete-without-benefits-realization
Design for Six Sigma is a design methodology. It works if properly instituted and executed. Wrongly designing and forcefully applying can cause more harm than help. If we need to implement Design for Six Sigma we should do it at the primary levels and not during the mid or operating level. To know more about this topic, go through Alan Nicol (Executive Member, AlanNicolSolutions)'s article link: http://www.manufacturing.net/articles/2012/04/wrongly-doing-design-for-six-sigma
The market is becoming more competitive nowadays. Companies like General Electric, Honeywell, Raytheon and IBM have managed to save billions of dollars in cost savings by process and quality improvement through Six Sigma. The majority of companies like to implement DMAIC methodology because they have existing processes. The remaining minority of Six Sigma practitioners is using a Design for Six Sigma (DFSS) approach to design a new product. DMAIC mainly focuses to improve the existing processes in such a way that final products can be produced with extremely low defects i.e. 3.4 defects in 1 million opportunities. Design for Six Sigma on the other hand, is about the design, development and commercialization of new products and processes for Six Sigma quality. To know more about DMAIC and DFSS, please go through the link: www.isixsigma.com/new-to-six-sigma/design-for-six-sigma-dfss/design-six-sigma-dfss-versus-dmaic/
Lean Six Sigma, a globally accepted set of tools, techniques and project management practices is applied across various types of industries. It is also applied to the industry which supports our lives – the pharmaceutical industry.
Going by a process oriented approach, maintaining quality and regulatory standards are vital for pharma industries. Different parameters like value (service and cost), customers (internal customers, patients, doctors, regulators, health care providers, etc.) and quality (patient safety, fit for use) must be taken into account in the process flow. And all these will result into maximum effectiveness of the plant realizing the maximum ROI.
To learn in details how Lean and Six Sigma is applied in the pharma industry, read at http://www.ijqr.net/journal/v6-n1/3.pdf .
Project management provides a strict framework to achieve business goals. As economic conditions are improving day by day, responsibility of project managers are also increasing to deliver projects efficiently. It is important to allocate resources properly by providing structural framework in such a way that ensures the investment in a positive direction of a growing economy with anticipated benefits. Hence, it is important for project managers to estimate and invest wisely in projects to ensure a long-term future. Please go through the link for more details: http://www.projecttimes.com/articles/can-project-management-lead-us-out-of-recession.html
Delivering business value requires proper understanding of the business various drivers. Driver can be a problem or opportunity which is associated with the project and relates the key variable to address the problem. Prioritization and listing of key indicators are very essential at the beginning of the project for proper decision making. The article mainly talks about few key performance indicators and also contains a list of 75 KPIs that every manager needs to know developed by Bernard Marr, a well-known performance management expert. Please go through the link for more details: http://www.projecttimes.com/articles/measuring-project-success-using-business-kpis.html
Skills required for project management cannot be achieved overnight. It comes automatically with experience and practice. As we handle more projects, our skills get enhanced and we work more efficiently and smoothly. To read more about this aspect, visit Sabrina Hanapiah's article link: http://www.aits.org/Articles/tabid/1450/ArticleId/10330/How-to-Develop-Project-Management-Skills.aspx/uid/10535
There are many cases of project failures where managers are actually blamed. The reason behind such failures is lack of communication between clients and project managers. To make a project successful, we need to understand specific needs of the clients and address the technical glitches. To know more kindly refer to the below mentioned link: http://blog.parallelprojecttraining.com/project-management-articles/project-managers-need-stand-counted/
Nowadays, many other industries like financial services and banking sectors are also actively interested on data analysis and Lean Six Sigma tools to improve processes.
Rod Toro is a business process improvement manager at Edward Jones. In this article, he talks about a Lean Six Sigma project for the service division of his company to improve customer satisfaction.
Toro says, "We were faced with understanding how we can better meet increasing service demands and give better overall customer service,"
With an increase in service calls, the main challenge was to provide timely, accurate, professional and highly customized service to the customer.
The main focus was to identify various metrics to distinguish the right associate for the right skill, also to streamlining the process in a more efficient manner.
To know more about how the whole process was taken care of through Design of Experiments (DOE) tools in Minitab please follow the link below:
Offshore outsourcing will make sense only when customer needs, business requirements and offshore supplier's capabilities are properly aligned. In an article, "The Hidden Costs of Offshore Outsourcing", it was noted that around 72% of stated cost savings on offshore projects was lost at the start-up stage, transition, productivity and maintenance phase. DFSS can effectively reduce the risk of offshore outsourcing failure by quickly deploying a road map. Combination of various tools and behaviors are designed to reduce defects and cycle time to complete the requirement phase of a typical software project. Design for Six Sigma provides a structure, a strong deployment option to better manage business plan for profit maximization. Please go through the link for more details: http://www.sourcingmag.com/content/c060301a.asp
Lean - a set of tool that improves efficiency and the most important - improves profitability.
Nowadays, hospitals are also using lean tools. Hospitals and other healthcare institutions are required to spend considerable time with patients which keeps other patients in line waiting. To clear problems of all of them, is a stressful job for doctors who attend them. One way to solve this is to add more staff to your organization. But, this has a flip side also. It will add cost to you. So, you have to think in a different way. You have to think in such a way, so that you clear all your stresses without incurring any extra cost.
This is where the Lean comes handy. By streamlining your process, it will add efficiency to your healthcare institution. Some of the immediate outcomes include reduction of lab turnaround time, reduction of emergency department turnaround time, etc. Apart from this, with effective management, doctors, nurses and other staffs attending patients can ease their stress and also they do not keep other patients waiting. You do not have to add extra workforce. Your healthcare institution’s efficiency will improve and cost will reduce.
Located at Sioux Falls, United States, Avera Medical Group applied lean practices to improve efficiency. Read at http://www.argusleader.com/story/news/business-journal/2014/05/07/health-systems-learn-lean/8781179/ to know how the clinic did it.
The IT enterprise field is slowly going to a saturation point. But, this sector is still facing competition. To know more on the growth areas in IT sector, go through the article by Dion Hinchcliffe, an expert in IT and business strategy.
http://www.zdnet.com/the-enterprise-products-with-disruptive-potential-for-2014-7000027859/
Human element plays an important role in the application of big data. Though data science is based upon business analytics, it is different from business analytics. Data science collects data and other information from different systems and then asks many different questions. To know more about whether it is necessary to include data scientist when a company is deploying big data solutions or not, go through the article by Daniel Kusnetzky, software engineer and product manager in Kusnetzky group.
http://www.zdnet.com/the-human-element-is-critical-in-applying-big-data-7000028983/
Big data is one of the important buzzwords in technology world. Nowadays, in addition to traditional enterprise data, companies are collecting data from different sources. Though big data is being used in high pace, companies working with big data are only concerned about the best product. To know more impact of big data, go through the article by Natalie Gagliordi, ZDNet staff writer.
http://www.zdnet.com/the-impact-of-big-data-on-enterprise-apps-7000028994/
An article by Hari Kelachankuttu, Change Facilitation Manager in Messier-Bugatti-Dowty (Safran Group) at Singapore, conveys that some organizations need to go a step further by setting financial savings targets by functions, departments or locations to have more granularities. As the challenges in the markets are getting complex business processes need to be continuously improved to overcome that.
To know more follow http://www.processexcellencenetwork.com/innovation/articles/continuous-improvement-and-the-trouble-with-metric/
In the second quarter of 2014, we are going to see shift of communication tool from e-mail to audio-visual, scope of mistakes will minimize and use of cloud computing are likely to increase. Moreover, there is going to be a sharp rise in demand for Agile Projects.
To know more about the new trends, kindly refer to the below mentioned link: - http://www.sooperarticles.com/business-articles/project-management-articles/5-hot-project-management-trends-2014-1321635.html
Decision trees can be generated based on project schedules. This article shows how to use decision tree analysis in project management as part of quantitative risk and decision analysis.
Please go through the link for more details: http://www.intaver.com/Articles/Article_DecisionTree.pdf
To attain success in a project we must follow few simple steps (which are also termed as basic steps). Keeping things simple, accepting changes, dividing the work into small steps and being time specific are few of them. To know about 6S for success, please visit Cécile Bérubé’s article link at: To know more kindly refer to the below mentioned link:http://www.pmhut.com/6s-for-success
To complete a project successfully, a project leader must have the details and nitty-gritty’s of the project i.e. the constraints, requirements and demands clear in his or her mind. Documentation is very important for any project and so is the ability to utilize most of the team members for successful completion of the project within the stipulated time. To know more about the basics of project management, kindly refer to the below mentioned link:
According to Forrester principal analyst Mike Gualtieri, "Hadoop is not big data. It's a big-data technology. You can break down the siloes but Hadoop is also a framework for processing the data". So, proper handling of big data is very essential for any company. Hadoop can help in explaining corporate data by managing it across clusters of commodity hardware. Research shows that many of the big companies using Hadoop. To know more on the advantages of Hadoop, follow the article by Toby Wolpe, senior reporter at ZDNet in London:
http://www.zdnet.com/hadoops-rise-why-you-dont-need-petabytes-for-a-big-data-opening-7000028282/
