Purchase Solution

How does an organzation identify process performance enhancement opportunities?

Not what you're looking for?

Ask Custom Question

As you may know, organizations can't afford to invest resources in projects which do not meet some accepted level of potential performance, return, or improvement, and solid feasibility studies on projects will incorporate structured consideration of all important factors. Feasibility studies include attention to these measures as quantitative and qualitative benchmarks.

How does an organization systematically identify process performance enhancement opportunities?

Describe briefly the types of project justification techniques that can be used by an organization. What are the strengths and weaknesses of a project justification technique?

Purchase this Solution

Solution Summary

In a 1277 word solution, the response presents a comprehensive review of project justification techniques used to identify performance enhancement opportunities.

Solution Preview

How does an organization systematically identify process performance enhancement opportunities?

An organization systematically identifies the process performance opportunities by first setting the vision and process enhancement objectives. This is important because at this stage the organization decides what kind of performance enhancement it wants to do. The enhancement may be to increase the capacity of a facility, to speed up the processing time, to reduce cost or to reduce the number of rejects. You may feel excited about the opportunity and may even feel success enter you, but this is not acceptable unless the organization decided about the standards that will be used to establish performance goal, the model against which we can compare ourselves, if we will work as cross-functional teams and how we will reward performance. For example, you may walk into a chocolate plant in Sweden and feel the flavors embrace you; however, the improved quality must be compared to the industry standards. The quality of the chocolate may be compared to that of a competitor in the same district and the results used as benchmark. Again if there is a systematic improvement of the process then those responsible for the performance improvement should be rewarded.

The organization next sets up an organization chart. This is specifically for the purpose of performance enhancement. If a new person is required to enter the organization and expand it for the purpose of performance enhancement, then the person needs to be recruited and suitably placed. At this stage it is important to make change manageable, manage employee expectations and identify cultural barriers. If a new chocolate making line is installed that would improve the tasting experience of chocolate, making it penetrate your senses and improving the customer satisfaction, there would be an expectation of higher salaries from employees. The company needs to anticipate the areas in which organizational infrastructure must change to implement redesigned ...

Purchase this Solution


Free BrainMass Quizzes
Marketing Management Philosophies Quiz

A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.

Accounting: Statement of Cash flows

This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.

Cost Concepts: Analyzing Costs in Managerial Accounting

This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.

Motivation

This tests some key elements of major motivation theories.

Understanding the Accounting Equation

These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.