Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
Continuous improvement strives for an 'ideal' situation, whereby the implementers initiate a voyage for betterment of their 'customer valued' processes and operations. The distinguishing feature of this Japanese concept is that it has to be followed endlessly as it ceases to decline. This is to say that there is always 'scope for improvement', when it comes to development in terms of 'efficiency, flexibility and effectiveness'.
Since it is linked to enrichment of 'customer delivery process', feedback from clients and users play an invaluable role in this theory of Kaizen.
A constant vigil to know the track on which things have been moving is often introduced by organizational management groups. One of these is the designing of a balanced scorecard that has all the relevant indicators on it for the never-ending quest aiming at enhancement of project management issues.
One of the thought is rests on is 'Kaizen', the literal meaning of which is 'change is good'.
The central principle of this idea is that the management must reflect its processes. This is attained by getting reviews from the people who have used the product or subscribed to services.
Further, by bringing together those aspects that have a bearing on this journey in terms of metrics, one can carry the snapshot of all the attempts in 'measurable manner'.
This is the actual scorecard with Continuous Improvement (CI) Performance Indicators and performance indicators. The performance indicators include: CI, Kaizen, continuous improvement, maintenance effectiveness, mean time between failures, percent reactive maintenance, percent proactive maintenance, mean time to repair (mttr), equipment effectiveness, overall equipment effectiveness, quality loss, rework units, reject units, unit quality loss, changeover time, breakdowns, setup and adjustments, cycle effectiveness, run rate, actual cycle time, reduced speed threshold.