Posts in category Terms

A balanced scorecard allows organizations to get feedback on the state of internal business processes and external outcomes, allowing leaders to sharpen performance and achieve better business results. This strategic …

Zero Quality Control refers to an ideal system that produces no defective products and therefore does not require frequent inspections that waste both money and time. Organizations that aspire to …

Zero Quality Control refers to the ideal process – one that produces zero defects and does not require frequent inspections. Achieving Zero Quality Control requires use of two Lean Six …

A Value Stream Map is a Lean tool used to examine a process for the presence of unnecessary and wasteful activities. It provides visibility of material flow and information flow in a process. On one diagram, the team can visualize the eight forms of waste (i.e., defects, over-production, waiting, non-utilized talent, transportation, inventory, motion, and extra processing.)

Once a company puts Lean Six Sigma strategies and tools to work, they can generate a wealth of data and other information. Project teams conducting deep dives into particular business …

A beta risk describes the risk that a project team is making when they conclude that something is not significant, when in fact, it really is significant.

Use: Understanding the concept of the alpha risk is important when making decisions based upon the results of statistical tests. There is always a risk that a statistical finding leading to a decision is found to be significant even though in reality it is not significant.

Developed by Bruce A. Tuckman in the mid-1960s, Form, Storm, Norm and Perform (FSNP) provides a framework for how project teams develop. It’s useful for project leaders who want to better understand team dynamics, as well as for team members who benefit from self-analysis.

Dr. Eliyahu M. Goldratt worked as an educator, author, scientist, philosopher and business leader during the course of his career. But one of his greatest accomplishments involved finding a unique …

The Theory of constraints is similar to the concept of the adage, ‘a chain is only as strong as its weakest link’. In a series of steps in a process, the slowest step controls the pace of the whole flow of the process. The process cannot go faster than the slowest step. This concept was made popular by the author, Eliyahu M. Goldratt in his book, The Goal.