Robust Production Management (RPM) Module 12: Selecting Viable Project Candidates

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This Slideshare presentation is a partial preview of the full business document. To view and download the full document, please go here: http://flevy.com/browse/business-document/robust-production-management-rpm-module-12-selecting-viable-project-candidates-470 It's so sad to see companies waste money, time and resources on lean & six sigma programs that yield virtually no ROI from their respective projects. Hint: not every project candidate is a financially VIABLE one. When company managers select projects that reduce operating costs, companies can then reduce prices to customers, leading to increased profit margins on each unit sale. With reduced customer prices in place, companies have a better chance of selling more units, and taking market share away from competitors. Robust Production Management (RPM) Module 12 "Selecting Viable Project Candidates" outlines the profit-generating process pretty well - and page 7 diagrams the concept in its entirety. Give it a try - it worked for Dale Carnegie and Henry Ford! "Selecting Viable Project Candidates" is the twelfth module in the Metrilogics Robust Production Management (RPM) training series - more on the way.

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Copyright © 2005 Metrilogics, LLC. All rights reserved.
Robust Production Management
Metrilogics
Front-line controls for bottom-line savings.
TM
SM
Module 12:
Selecting Viable Project Candidates
By Lance Latham
Senior Managing Partner

Copyright © 2005 Metrilogics, LLC. All rights reserved.
Metrilogics
TM
Business 101 Revisited
The primary goal of any for-profit business is to...
This is accomplished by:
maximize profit.
Operating
Cost
$Dollars$
Profit
Operating
Cost
Before After
Profit
Revenue v Increasing
revenue
v Reducing
operating costs
2
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Copyright © 2005 Metrilogics, LLC. All rights reserved.
Metrilogics
TM
Project Candidates That Reduce Operating Costs (cont.)
Cost Categories Profit-Building Project Candidates
That Deliver Cost Saving Results
• Reduce production scrap
• Reduce regulatory fees
• Link team member incentives to improvements in performance (quality + productivity)
• Optimize office & warehouse space
• Schedule system & equipment maintenance to occur during non-production times
• Optimize team productivity
• Establish challenging & achievable performance standards for individual team members
• Negotiate & establish vendor price discounts
• Optimize economic re-order points
Salaries /
Benefits
Energy / Utilities
Facilities
Equipment
Materials
Taxes / Regulatory • Reduce regulatory fines
• Minimize changeover & set-up durations
• Modify work station layout to facilitate work flow
• Establish method to bill back vendors for low-quality materials received
• Negotiate & establish vendor price discounts• Identify & eliminate energy waste
• Minimize overtime costs
• Reduce taxes
• Maximize first-pass process output quality & accuracy
5
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Copyright © 2005 Metrilogics, LLC. All rights reserved.
Metrilogics
TM
Module 12 Summary
v The primary mission of any for-profit business is to maximize profit.
v Profit is maximized through a combination of increasing revenue and
reducing operating costs.
v Projects should only be embarked upon if they will result in the
realization of tangible, bottom-line benefits upon their conclusion.
v Operating costs for most for-profit companies can be broken out into
6 major categories, with Salaries / Benefits representing the largest
share (≈ 45%) of a given company’s annual total.
v Projects that result in revenue growth can take a variety of forms,
beyond simply finding ways to “…sell more product!”
v In practice profitability will be driven first through cost reduction
projects (in the short term), but will then increase through revenue
growth initiatives (in the intermediate and long terms).
8
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