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E23: Calculating Financial Benefits for Improvement Projects - Lean Portland Happy Hour - July 2022

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Content provided by Lean Portland. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Lean Portland or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.

After making improvements to your processes, a best practice is to calculate the benefits to the organization. Calculating financial benefits is an important part of building momentum for improvement with upper management. However, this can be confusing for those not familiar with financial data, and is not done very often in organizations.

Brion Hurley will discuss commonly used methods for capturing financial impacts of process improvement work.

The 5 categories are:

• Income Statement

• Cash Flow

• Growth

• Avoidance

• Soft Savings

We will define each category, go through a few examples, and go through a practice exercise as a group.

Links discussed in the video:

Lean 101 Virtual Training - June 26, 2022: https://www.eventbrite.com/e/lean-101-tickets-367967449547

Case Study Example: https://www.leanadvisors.com/lean-success-stories/manufacturing/client-saved-800-000-in-3-days

ABOUT US:

Lean Portland is a socially-driven community built organization for both new and experienced continuous improvement professionals. We've been gathering for happy hour since 2012 and every First Tuesday since 2015! As of April 2020, Happy Hour is happening online. Until we can safely meet again in person, we hope to see you here soon!

Learn more about Lean Portland at https://leanportland.com/

To check out upcoming Lean Portland events, visit https://www.eventbrite.com/o/lean-portland-16044200704

  continue reading

24 episoade

Artwork
iconDistribuie
 
Manage episode 334225747 series 2420538
Content provided by Lean Portland. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Lean Portland or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.

After making improvements to your processes, a best practice is to calculate the benefits to the organization. Calculating financial benefits is an important part of building momentum for improvement with upper management. However, this can be confusing for those not familiar with financial data, and is not done very often in organizations.

Brion Hurley will discuss commonly used methods for capturing financial impacts of process improvement work.

The 5 categories are:

• Income Statement

• Cash Flow

• Growth

• Avoidance

• Soft Savings

We will define each category, go through a few examples, and go through a practice exercise as a group.

Links discussed in the video:

Lean 101 Virtual Training - June 26, 2022: https://www.eventbrite.com/e/lean-101-tickets-367967449547

Case Study Example: https://www.leanadvisors.com/lean-success-stories/manufacturing/client-saved-800-000-in-3-days

ABOUT US:

Lean Portland is a socially-driven community built organization for both new and experienced continuous improvement professionals. We've been gathering for happy hour since 2012 and every First Tuesday since 2015! As of April 2020, Happy Hour is happening online. Until we can safely meet again in person, we hope to see you here soon!

Learn more about Lean Portland at https://leanportland.com/

To check out upcoming Lean Portland events, visit https://www.eventbrite.com/o/lean-portland-16044200704

  continue reading

24 episoade

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