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How to measure the ROI of your process improvement

Chartered Management Institute

That is the finding of AlixPartners LP, a Chicago based consulting company. One thing that we feel is the benefit of lean and Six Sigma is actually the return on investment in these programs,” he said. The meeting example is probably very cheap, but other improvements may require investment in new technology, training or tools.

ROI 86
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Put HR Skills on Your Performance Improvement Team

Harvard Business Review

My team would have people with deep functional knowledge and skills (strategy, sales, marketing, finance, and information technology) to align surrounding processes. If you do Six Sigma in isolation, the work force doesn't have time to implement the changes.". These are "people skills.".

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Mind the (Skills) Gap

Harvard Business Review

A bachelor's degree used to provide enough basic training to last a career. Fortunately, new technologies and services deliver education flexibly, giving America new opportunities with "Education 2.0." Project Management and Lean Six Sigma certifications both center on hands-on learning. The key takeaway?

Skills 17
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Cutting Costs Without Cutting Corners: Lessons from Banner Health

Harvard Business Review

With these rules in place, 8 cross-functional teams—each composed of middle managers, a consultant guide, and a sponsor from the leadership team—were formed. During an intensive 8-week pilot, each team was trained and then it analyzed the cost structure of one function and recommended cost reduction tactics.

Cost 8
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Five Coaching Tips to Help Business Process Management Leaders Succeed

Strategy Driven

But those leaders have had training and experience to succeed in a traditional organization with a C-suite at the top and siloed business units and functions under each executive. A BPM expert – it could be the outside consultant or internal BPM Team Facilitator – provides formal and informal coaching to them.

BPM 56
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Uniting the Religions of Process Improvement

Harvard Business Review

When they set out to turn around processes that have become woefully inefficient or ineffective, most companies choose one of four process improvement "religions": Lean , Six Sigma , Business Reengineering or Business Process Management (BPM). Many companies adopted Six Sigma in the late 1990s. Consider this example.

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Bringing Outside Innovations into Health Care

Harvard Business Review

This failure is not for lack of effort — health systems are making massive investments in new infrastructure, technology, processes and managerial approaches designed to manage change, such as electronic health records, Six Sigma and Lean Management.