Step 7—Measuring success
Step 7—Measuring success

The following Life Sciences practice note provides comprehensive and up to date legal information covering:

  • Step 7—Measuring success
  • Construct a simple control chart
  • Measuring success
  • Express the success in financial terms
  • Project completion activities

There are five key steps to improving efficiency:

  1. identify (define) what process needs improving

  2. measure the problem

  3. analyse your information

  4. improve the process

  5. control, ie embed the new process so it becomes business as usual

Management consultants often refer to this is as the (define, measure, analyse, improve and control) DMAIC framework.

This Practice Note guides you through step 7, ie controlling the problem you identified in step 1 and have now measured, analysed and improved. This Practice Note focuses on the importance of measuring the impact of the changes you have made to demonstrate levels of success.

Construct a simple control chart

Control charts can become complex and deeply mathematical but in their simplest form they allow you to keep an eye on how things are progressing:

  1. control charts allow you to determine the stability of a project over a period of time

  2. they do this by identifying upper and lower control limits—eg in the case study we identified that two months was the average length of time to complete a due diligence process. We are happy with a variation of three weeks either side of that so our control chart needs to track how long it takes to complete a due diligence process and highlight those instances when it happens more quickly or slowly than anticipated (see Practice Note: What is Continuous Improvement?)

  3. they help you

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