BPMM is an acronym for business process maturity model. A maturity model is an approach to assessment that evaluates an organisation’s performance in a certain area, business processes in this case, against best practice.
The purpose of this technique is to support product development by bringing new products to customers faster and ensuring that organisations are building things that customers want and are willing to pay for.
FMEA is a brainstorming exercise that emerged from quality management with the purpose of identifying the greatest number of potential failures within a product or process, in order to take actions through which they can be eliminated or reduced.
The Kepner Tregoe matrix is a tool used to support organisational decision making. Through a focus on risk assessment and prioritisation, it aims to achieve a course of action or outcome with the least negative consequences.
The concept of ‘lean’ describes the use of methods by an organisation to bring products or services to market in a manner that avoids waste.
Pareto analysis is often referred to as the 80/20 rule. It assumes that 20% of causes are responsible for 80% of problems.
A maturity model is a tool designed to assess an organisation’s practices and guide improvements. The effectiveness of practices are assigned a ‘maturity level’ based on their level of sophistication compared to optimum methods and weaknesses are identified.
Product lifecycle management is a technique that advocates that products at varying stages of market maturity require distinct approaches with regard to financing, marketing, purchasing, or manufacturing.
Production is a concept that relates to the responsibilities and management surrounding production and operations. It is concerned with both the administration of products and services.
A project status report is a formal document used to overview the current status of a project within a project plan. It is completed regularly to inform stakeholders about issues including risks or pending decisions.
A supply chain describes the systems, activities, people, information, and resources involved in getting a product or service from a supplier to a customer. Supply chain management then, has the purpose of streamlining these activities making them as efficient as possible, to enhance customer value and create competitive advantage for an organisation.