Process Reliability Modelling: Improving Organizational Effectiveness and Bottom Line
OVERVIEW Process Reliability Modeling (PRM) is a very sensitive measurement instrument used to identify areas of processes contributing to loss of revenue and customer dissatisfaction. PRM was created to satisfy requirements for Doctoral degree. Process Reliability Modelling WHY SHOULD YOU ATTEND Historical data suggest organizations perform at a Sigma Leve of 4; the cost of ineffective management is between 15 to 25 percent of an organizations sales. A more realistic Sigma Leve in today’s organizations is 3 which suggest the cost of ineffective management is between 25 to 40 percent of an organizations sales. Traditional methods of Process Improvement demonstrate high failure rates: Business Process Reengineering (BPR) 50% to 85%, Total Quality Management (TQM) 75%, and Six Sigma 90%. As a result organizations bottom line suffers. To improve bottom line organizations will downsize believing this will improve their bottom line; howev...