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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 is Process Optimization
What is Process Optimization   

What is Process Optimization



 
 

Process Optimization is an act of adjusting a process to be more productive in terms of certain key parameters without violating other constraints: this effort is aimed to improve performance metrics in terms of some essential specifications (minimizing process cost, increasing efficiency, etc), while keeping all other parameters within their constraints (in other words optimization doesn’t recognize any trade-offs, like increasing of a process speed at the expense of its output quality, or increasing of quality at the higher process costs). In other words a process optimization can be described as an attempt to find and eliminate all inefficiencies until a process works to its full capability. 

Process optimization can take place in one of the following dimensions:

  • Equipment optimization (making sure that the equipment is being used to its fullest advantage);
  • Operating procedures (minimizing effects of varying performance by different individuals);
  • Control optimization (optimizing control loops at complex processes); 

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