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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
 
 
 
 
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
 
 
 
Home » Glossary » What are Process Gains and Losses?
What are Process Gains and Losses?  

What are Process Gains and Losses?



 
 

Process Gains and Losses are two groups of parameters that determine a range of positive and negative results reached throughout implementation or upon completion of a process. The Gains group includes all process achievements that have reached success; the Losses group consists of process efforts and actions that have been failed and not achieved for some reason.

Balancing both groups is the art of managing a process. A well managed process appears to produce more positive and successful achievements rather than negative and failed results. Process management is a fundamental activity that aims to define, design and implement a process in the way that ensures success rather than failure.

The balance between process losses and gains can be mathematically presented as a ratio which is called "Gain-to-Loss ratio":

         Process Balance = Gains Received / Losses Happened

Process management uses various methods and techniques intended to minimize process losses and maximize process gains. For example:

  • Brainstorming
  • Historical analysis
  • Delphi
  • Nominal groups
  • Focus groups
  • Devil’s advocate.

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