Blog
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Descriptive Statistics
Descriptive statistics are methods of describing the characteristics of a data set. It includes calculating things such as the average of the data, its spread and the shape it produces. It involves describing, summarizing and organizing the data so it can be easily understood.…
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How RACI Matrix Streamlines Stakeholder Engagement
Also known as Role Matrix, RACI Chart and ARCI Matrix. Variants include Responsibility Assignment Matrix, Linear Responsibility Chart, and RASCI. When multiple individuals collaborate on a particular project for example, it is easy to assume that someone else is taking care of an activity…
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Lean Concept of Value
Also known as VA NVA Analysis and Value-Added Analysis. Variants include Waste Analysis. Oftentimes, we tend to create additional steps to a process in order to fix a problem or enhance a situation. Over time, these additional activities become an established part of the…
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Lean Concept of Waste
Also known as the Eight Wastes and the Eight Deadly Wastes and the eight forms of waste. Variants include the Seven Wastes. Within a Lean culture, waste is anything that doesn’t add value from the customer’s perspective. It includes activities that consume resources, increase…
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RAID Log Template
A RAID log is a project management tool that is used to store several project information in one place. It allows project managers to track Risks, Assumptions, Issues and Dependencies, making it a useful document in regular project meetings and when conducting audits. This…
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Risk Analysis
Risk Analysis is a process that helps identify and assess potential threats that could affect the success of a business or project. It allows to examine the risks and includes means to measure, mitigate and control them effectively. It is part of the larger…
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Applying the PDCA Cycle: A Blueprint for Continuous Improvement
Also known as Shewhart Cycle and Deming Wheel. Variants include PDSA Cycle and OPDCA. The Plan-Do-Check-Act Cycle (PDCA Cycle) is a four-step model for systematic problem solving and continuous improvement. It offers a simple and structured way for resolving business-related issues and creating positive…
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Value Stream Mapping: A Visual Approach to Process Optimization
Also known as Material and Information Flow Analysis and Value Stream Analysis. A Value Stream Map (VSM) is a high-level visual representation of a business process. It helps to understand the flow of value through the process as perceived by the customer. The primary…
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Visual Management Audit Checklist
Visual Management is a technique that uses information displays, visual controls, labels and signs, color coding and other markings instead of written instructions. This visual management audit checklist serves as a tool to pinpoint and address compliance gaps within your workplace. An effective audit…
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Process Chart Template
A process chart is a visual representation showing the sequence of activities within a process. This type of process map is preferable when documenting sequential processes that contain few decision points. This process chart template allows to record the steps of any given process…
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The Role of Fishbone Diagram in Analyzing Cause and Effect
Also known as Ishikawa Diagram, Cause and Effect Diagram and Fishbone Analysis. Variants include Tree Diagram. A fishbone diagram is one of the various techniques available for conducting cause-and-effect analyses. It provides a structured way to identify and organize the potential causes contributing to…
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Putting Prioritization Matrix into Practice for Effective Decision-Making
Also known as Decision Matrix, Multiple Criteria Decision Analysis and Weighted Criteria Matrix. Variants include Pugh Matrix and Pairwise Comparison Matrix. Many real-life decision-making situations have several conflicting criteria that need to be considered simultaneously. Traditionally, these complexities are often dealt with through the…
