Methodology and Analytical Requirements
ProFIT-MAP is a non-proprietary methodology and is described in the book profit mapping. As managers develop ideas in the form of business scenarios for improving the organization, analytical capabilities are required that can quantify the impact of the various business improvement options. The objective is to help managers select the “best” option(s) from the standpoint of the overall business – not just those that may result in isolated improvements but not necessarily for the organization.
ProFIT-MAP requires the integrated assessment of each decision option in terms of the process characteristics, resource requirements, and financial effects. There are many software tools that address aspects of each of these areas individually. Most importantly, any software tool must enable apple-to-apple comparisons within each of these domains as well as between them. Otherwise, managers will not have a level playing field to holistically evaluate and compare their alternatives for improving the business.
Read more about this topic: Pro FIT-MAP Methodology
Famous quotes containing the words methodology and/or analytical:
“One might get the impression that I recommend a new methodology which replaces induction by counterinduction and uses a multiplicity of theories, metaphysical views, fairy tales, instead of the customary pair theory/observation. This impression would certainly be mistaken. My intention is not to replace one set of general rules by another such set: my intention is rather to convince the reader that all methodologies, even the most obvious ones, have their limits.”
—Paul Feyerabend (1924–1994)
“I have seen too much not to know that the impression of a woman may be more valuable than the conclusion of an analytical reasoner.”
—Sir Arthur Conan Doyle (1859–1930)