Professional Documents
Culture Documents
Time Management
• It is the act or process of planning and exercising conscious
control over the amount of time spent on specific activities and
the aims are to increase effectiveness, efficiency and
productivity.
Effectiveness:
• The degree to which something is successful in producing a desired
result or success.
Efficiency:
• It is the ability to avoid wasting materials, energy, efforts, money,
and time in doing something or it can be an optimum utilization of
input for achieving desired output.
Productivity:
• Rate of output per unit of input(s).
Drivers of Productivity
Investment is in physical capital — machinery,
equipment and buildings.
Innovation is the successful exploitation of new
ideas.
Skills are defined as the quantity and quality of
labor of different types.
Enterprise is defined as the seizing of new
business opportunities.
Competition improves productivity by creating
incentives to innovate and ensures that resources
are allocated to the most efficient entities.
Value Adding & Non-Value Adding Activities
Value Adding Activities are any activities that add value to the customer
and meet the three criteria for a Value Adding Activity.
First make a list of all activities to be done. Then allocate priority among
them
A URGENT + IMPORTANT
B URGENT + IMPORTANT
C URGENT + IMPORTANT
D URGENT + IMPORTANT
b. Pareto Analysis (80-20 Rule)
i. Six sigma
Defects as low as 2 in billion.
ii. Pareto chart
4. Quality Improvement
Purposeful change of process for improvement.