Is cost reduction the only measure of success for Operational Excellence?
added 8/26/2010 A. It is not. It is natural to gravitate toward this measure because it is relatively straightforward to calculate, and reducing costs is one obvious method to deal with financial gaps. Cost reduction alone—while incredibly important—does not speak to the non-financial impact of the savings. While the specific metrics of success used in the project will depend to a large extent on the individual activities within each of the project’s initiatives (which are just entering the design phase) we can imagine several other measures of success that could be used in the project, such as levels of satisfaction with University services, duration of work processes, ease of use (for tools and processes), amount of reduction of redundant workflows, etc.
