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What are Electronic Health Records (EHRs) ? An EHR or an Electronic Health Record is a computer readable store of patient information that is accessible by healthcare professionals. It is also known as a systematic collation and collection of data and information about the patients in an electronic form. The EHRs can store information related […]
How Loose Monetary Policies by Central Banks Create Asset Bubbles and Lead to Inflation
Loose or Tight Monetary Policies ? The debate over whether central banks around the world must pursue loose monetary policies or tight monetary policies has become sharp in the aftermath of the global financial crisis. Loose monetary policy refers to the practice of central banks keeping interest rates low, stimulating the economy as banks would […]
World Trade Organization: Success or Failure
It has been more than 20 years since the World Trade Organization (WTO) came into existence. However, there is still considerable debate as to whether it has been a success or a failure. The objective of the World Trade Organization (WTO) was to foster efficient economic activity across the globe. This was to be done […]
Nation Branding
Nations are now becoming image conscious. This is a recent phenomenon which is very different from the “devil may care” attitude that was common in the past. Countries are now employing top-notch professional public relations agencies and advertising agencies to carefully cultivate and then improve their brand image. This was earlier done exclusively by corporations. […]
Enterprise Application Integration and Service Oriented Architecture
ERP represents a wide suite of applications covering various enterprise functionalities. It also links together departments and business units. Whereas an ERP system provides a perfect back end system, the organization still needs to interact and collaborate with its suppliers and vendors, where an ERP system plays only a limited role. Extended ERP: The business […]
Immediately after receiving the initial information about the Six Sigma Project, scoping begins. Scoping is usually the first task done while executing any project. Here is what exactly Project Scoping is and how to use it.
A Project scope defines exactly what is in the process. Processes are usually continuous i.e. where one process ends the other one starts immediately. Hence in the absence of scoping, work will not be focussed. Consider the accounting cycle for instance. It starts when raw materials are purchased and ends when cash is received for the goods sold. It begins with cash and ends with cash. In between there are many steps like converting raw materials to Work in Progress, Converting Work In Progress to Finished Goods, Transferring Finished Goods To Inventory, Selling The Inventory On Credit etc.
In the absence of scope it is likely that the project will not be able to focus. Hence while implementing a six sigma project one must know that they are trying to improve the process which starts when Work In Progress is turned into finished goods and ends when the sale is completed.
The most important information that a project scope document conveys is the boundaries of a process. The scope document must define with zero ambiguity what is the start point and the end point of the process.
Project Scoping is usually done with high level processes. This means that many activities in the process may have their own sub processes involved. In such cases the project scoping document must explicitly state what nested processes are a part of the scope of the project.
The Project scope is of vital importance to the execution of the project. This is because it becomes the basis for the requirements of the project and the resources that need to be deployed in the project. Some of the important information contained in the Project Scope is as follows:
Once the project scope document is completed it must be sent for immediate review. The points that must be considered in the review process are as follows. The project scope is checked for:
In case the project scope does not meet any of these requirements, it is a red flag. A well-defined project scope is essential. If the project scope is too broad, Pareto analysis is used to identify the key issues and narrow the project scope and make it manageable.
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