Root cause analysis (RCA) is the process of finding the event or condition that leads straight to an occurrence (another event). It is a systematic procedure used to identify the principal possible cause of risk. In risk-based management, root cause analysis (RCA) is more useful in predicting future events.
RCA is no longer a hindsight technique of investigation but a forward-looking one. It s
Six Sigma tools are indeed important tools for getting better project results. The same can be said for Project Management methods are important for getting better Six Sigma results.
Studying Project Management to the level required to earn certification from PMI is one approach, but takes years of time, for you and your company. Even if you have a good start on this, what will you do after that?
You still need to effectively lead your process improvement projects. But no process improvement proje
Initiatives aimed at improving performance are often launched with great uproar, costing an organization significant investments. Such initiatives necessitate extensive changes in the Organizational Culture and the way the enterprise systems and processes function.
However, most initiatives fall short of realizing success. Decades of scholarly research on Change Management reveals that the issues that contribute the most to the failure of strategic initiatives are:
Six Sigma is an effective methodology for assisting organisations in improving processes through the use of a data-driven approach. When a company launches a product, it employs a number of processes to ensure its success. This is where Six Sigma comes in to help the project management team improve the efficiency of their processes. As a result, they will be able to finish the project on time and on budget.
Any organisation that consistently completes its projects maintains its competitiveness. C
Brent and WTI crude prices fell more than 6.4% to US$29.64 and US$29.57 a barrel respectively yesterday (25Jan2016) following a ~10% rise last Friday. Today’s price came up a little opening at US$29.79 but as usual, promising nothing out of the ordinary (Figure 1).
Figure 1: WTI Oil Price, 26-Jan-2016
No one expert knows exactly how much oil out there exceeds the global volumetric demand but all seem to agree that the entire world is drowning in it. T
Some five to ten years ago, a Project Controls colleague asked an interesting question. It is about the analysis/reports that our PC Group completes periodically. Some of the reports are “as required” but most times on a fixed cycle; e.g. bi-weekly, monthly, quarterly and annually.
He asked us, “What are the attributes of a good variance analysis?”
Reflecting on the questions, all which matter most, came pouring forth. While writing the bulleted central piece of what a good analysis/report is like
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