We can use value analysis and value engineering techniques to improve our product cost structure and ultimately our value proposition.  The analysis phase of this activity is called value analysis. The design phase of this activity is called value engineering.  We are a bit constrained during these activities since as we have a product already […]

A contingency in project management is a reaction plan to an untoward event; in short, we plan ahead for the failure of a given task. In order for a trigger to “fire,” we must set a threshold value that activates the trigger; otherwise, the trigger should never fire. Thresholds can be set based on financial, […]

Risks need to be assessed in regard to their business impacts, so that business decisions can be made promptly.  Strategies should be built and decided based on the quantitative value of the risk. Managers must decide on whether to spend $500,000 to avoid a delay in a project.  How long that delay is impacts the […]

Many organizations have a series of activities or processes (design reviews, analyses, verifications, validations, etc.) that they go through to produce the end product or service. The work will start with some kind of development process, which may be a matter of days, months or years, depending on the complexity of the product or service. […]

The trigger is a new concept to those acquainted with the FMEA approach to problem elimination. The trigger event (or threshold) is how we know we need to invoke our risk reduction activities and is direct responsibility of the person monitoring. Risk Response and Contingency Budgets Each risk dollar amount at stake is multiplied by […]

We recommend a modified version of the FMEA approach to assessing the risk. The approach is tailored to the needs of project and program managers. We will model the time line as a control plan with minimal controls other than the typical tollgate reviews and, perhaps, team meetings. We know from personal experience that treating […]

by Kim H Pries Our experience shows us that configuration management lies at the very heart of professional engineering and product growth. Just to be able to run an ERP or MRP system requires a standard for nomenclature and identification of parts (including software). We mark changes to parts and software with changes to part […]

by Kim H Pries When we are engaged in prototype development during the early to late middle phases of our new product delivery process, we usually purchase components through maintenance, repairs, and operation (MRO) purchasing. This type of purchasing is managed on an as-needed basis, and often, is not automated. We purchase the parts we […]

by Jon M Quigley When we have a short project schedule, we need to learn from our prototype as quickly as possible. Rapid prototyping is a rational approach to a shorten schedule that does not come at the risk or cost level of skipping prototypes or starting the next level of prototype before we have […]