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Posted by: Brent Meacham on Apr 27, 2011

Benchmarking Analysis

Shingo Prize

Benchmarking Analysis

When thinking about where the Shingo Prize could be; something comes to mind, this program puts emphasis in improvement of processes; in fact, it teaches companies operational excellence, management alignment, and continual improvement. These concepts are taught and implemented throughout the world; which are the Strengths of the Shingo Prize; I wanted to do a benchmarking analysis to see how we could eulogize technology to make the process more agile and dynamic.

One of the challenges I found with the Shingo Prize was that the organization needed to evaluate their own performance against the best performance practices standards in the market; also, to evaluate their own performance against other companies’ best performance standards, including other organizations’ target goals and how they were achieved. That is why I did some research how to create a “Benchmarking Analysis”

First: we need to do a SWOT Analysis.
Purpose: To provide a subjective assessment in order to make critical decisions that is related to planning and risk management for the Shingo Prize project.

Second: Expected Monetary Value
Purpose: to conduct a Qualitative Risk Analysis. This analysis will include a list of risks and a priority of urgency.

The SWOT Analysis commonly used tool for identifying gaps and potential for improvement.

http://www.brighthub.com/office/project-management/articles/45156.aspx

Retrieved: January 21, 2011

Strengths
· what are the main advantages of the project proposed?
· Is the project team competent?
· What are the unique points that will make this project successful?
· Does the project count with enough resources, assets and people?
· What is the estimated profitability of the project to be? Cost?
Weaknesses:
· What are the main disadvantages of the proposed project?
· Are we using the right methodology? (throwaway prototyping)
· Do we have any gaps in those working in the project?
· Do we have the financial strength to complete the project?
· Is the timeline practical? (See example below)

http://www.brighthub.com/office/project-management/articles/49584.aspx

Retrieved: January 21, 2011

Opportunities
· What are the latest market developments?
· Are there vulnerabilities?
· “Are there industry trends that we can leverage” (ASP.NET)
· Can we leverage globalization?
Threats
· Are there any competing technologies or type of services that will make success hard?
· Does the organization have financial backing?
· What are the current global implications? (Economical)

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