Gap analysis framework helps compare the actual level of performance versus the desired level of performance. The below diagram shows various business strategies that can be applied to close the gap resulting from the conducted analysis.
PDCA cycle is an iterative process for continually improving products, people, and services. It became an integral part of what is known today as Lean management. The Plan-Do-Check-Act model includes solutions testing, analyzing results, and improving the process.
Plan-do-check-act, or PDCA, is a method organizations use to continually improve their internal processes, increasing the quality of their products and the overall efficiency of their business. PDCA is also called the Deming wheel, Deming cycle, or Shewhart cycle, after some of its earliest proponents.
The Pros and Cons of PDCA / PDSA. The model is a simple, yet powerful way to resolve new and recurring issues in any industry, department or process. Its iterative approach allows you and your team to test solutions and assess results in a waste-reducing cycle.
Decision tree is a tool that shows you how to make decisions when facing multiple options. The decision tree analysis implementation steps are to list all the decision, assign the probability of occurrence for each of the outcomes, assign the monetary impact of a risk occuring and calculate the Expected Monetary Value (EMV) for each decision path. Decision tree example below explains how to make a decision tree diagram and helps conduct impact analysis.
RACI Matrix example – Building a Restaurant There are 2 interesting things in this RACI matrix: Since the Restaurant is not open yet, the Salesman is not Accountable for any of these tasks. When choosing the food suppliers, the Chef had to play 2 roles: Responsible and Accountable.
A key principle of RACI project management is the appointment of one person to oversee the project implementation plan. They are responsible for the entire project, or a segment of it, and exhibit leadership consistency. This gives team members one central authority for direction.
A RACI chart is a simple matrix used to assign roles and responsibilities for each task, milestone, or decision on a project.
RACI Diagram Example
The Investment Risk Pyramid is an asset allocation framework for investors to choose different assets classes. This helps one to decide how to diversify a portfolio according to their risk tolerance and expected returns. The base of the investment pyramid below is lowest risk but also lowest return.
This is another great healthcare KPI example that should be a top priority for any healthcare organization, in order to have feedback and improve the service. You can ask your patients how they felt while being taken care of, how they would rate their meals or the time taken by doctors and nurses to explain them their situation.
These changes have spurred healthcare companies to look into new healthcare metrics—or key performance indicators (KPIs)—to decide if they are meeting these new standards. As a quick refresher, a KPI is a type of performance measurement that helps you understand how your organization or department is performing.
Once the practice manager or medical director has established a medical marketing strategy, he or she has to come up with KPIs to measure ongoing progress and success of each area. Working with hundreds of healthcare providers, PatientGain.com has established that there are 10 key KPIs for your medical marketing strategy.
Medical KPI Example
Andon (Japanese: アンドン or あんどん or 行灯) is a manufacturing term referring to a system to notify management, maintenance, and other workers of a quality or process problem. The alert can be activated manually by a worker using a pullcord or button or may be activated automatically by the production equipment itself. The system …
The origin of term Andon is from a Japanese word for traditional paper lantern. An Andon is one of the most common forms of visual management that is in use in Lean.
Andon (manufacturing) The concept/process of giving a non-management (production line) worker the authority to stop the production line because of a suspected quality issue is often attributed to W. Edwards Deming and others who developed what became Kaizen after World War II. “Andon” is a Japanese loanword originally meaning paper lantern;
The GE-McKinsey nine-box matrix is a strategy framework that offers a systematic approach for a corpora tion with multiple businesses or products to prioritize its investments. Business units are assessed by their appeal in the industry and strength relative to competition. Please see the below diagram for an example of Mckinsey 9-box matrix.