A process improvement plan refers to a planned endeavor to analyze the existing business processes, identify problems and rectify them to improve the standards of quality and effectively meet new objectives. Such a plan entails a systematic approach that utilizes various methodologies and approaches, including lean marketing or benchmarking. The plan sets a goal to modify, complement or remove specific processes to achieve improvement.Continue Reading
To be effective, a process improvement plan needs to focus on customer needs. This is typically done by considering and identifying the qualities of specific processes that the end-customers value and undertaking steps to increase that value. Process improvement plans also set clear target outcomes and incorporate various means of measuring the success rate of meeting those goals. This way, a company can monitor the progress and employ the guidelines within the plan to modify the goals or refine the process to increase the likelihood of improvement. The final element of process improvement plans includes the involvement and communication between those who participate in the effort. By assigning clearly defined roles and establishing precise expectations of the team that is tasked to carry out the plan, a company can ensure process improvement through efficient utilization of the team’s skills and time.
A successfully implemented process improvement plan radically modifies the structure and the performance of a company and is immediately reflected in the customer satisfaction and loyalty, in addition to the increased productivity and higher return of investment.Learn more about Financial Calculations