A computer company may want to see where they stand against industry performance criteria, or a candy company may want to compare their reputation with their competitors.Learn how gap analyses work, find examples, and follow our step-by-step guide to perform one for your company.
The method provides a way to identify suboptimal or missing strategies, structures, capabilities, processes, practices, technologies or skills, and then recommends steps that will help the company meet its goals. By comparing the current state with the target state, companies, business units, or teams can determine what they need to work on to make their performance or results better and get on the right path quicker. Other names for the process include need-gap analysis, needs analysis, and needs assessment. As opposed to a risk assessment, which tend to be forward-looking, a gap analysis examines the current state. ANSI (American National Standards Institute), ASIS (American Society for Industrial Security), and RIMS (Risk and Insurance Management Society) standards say that risk assessment includes the identification, analysis, and evaluation of uncertainties to objectives and outcomes of an organization. You can also look at a gap analysis as a means of comparing performance to potential. In other words, how far did a person, group, or product fall from their capacity Did the resources fall short of the needs Gap analysis is a process that, when applied to other business processes, becomes a reporting process used for improvement. When applied to manufacturing or production, a gap analysis can help balance the allotment and integration of resources from their current allocation level closer to an optimal level. Those resources can be time, money, material or human resources. Concrete vs. Conceptual You can perform a concrete gap analysis thats looks at the real world, or a conceptual one that examines hypothetical scenarios. While you can use the same template in both exercises, when performing a conceptual gap analysis, youll need to make assumptions about which parameters to use. Strategic vs. Operational A gap analysis can be strategic and focus on the overall organization and the planning and execution at that level, or it can be operational and focus on the day-to-day work of a team or department. Since both methods are based on real-world situations, theres no need to make assumptions. Productivity: When a factorys productivity is not meeting expectations, targeted customer needs, or the set of business requirements that were laid out a gap analysis can help determine what process to fix. Supply Management: If a hospital finds itself running short of supplies on a regular basis, they could perform a gap analysis to identify the reason why. Sales Performance: A manufacturer can look at the sales performance of their catalog of products to make sure they are producing the right mix, and use the result to maximize their productionpossibility frontier. Individual Assessment: A team leader at an accounting firm can have each member perform a gap analysis on themselves, and use those results not only to find targets to improve each persons performance, but also to draw out the best practices that everyone can adopt. Gap Analysis Examples In Healthcare Software Company MightProduct Evaluation: A software company might perform a gap analysis of their product to ensure that all features and functions outlined in the business requirements are present and working as expected. The goal of a gap analysis is to evaluate those differences, find out what caused them, and suggest ways to match the ideal target with the real world results. In other words, this process is comparing where we are with where we want to be. Some reasons that a company might kick off a gap analysis include the following: Benchmarking: Comparing results against external criteria.
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