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008_Financial Management (PowerPoint PPTX)

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BENEFITS OF DOCUMENT

Understand the Four Basic Financial Statements
Recognize the shortcomings of traditional accounting in process improvement
Become fluent in hard versus soft savings

DESCRIPTION

This product (008_Financial Management) is a 19-slide PowerPoint presentation (PPTX), which you can download immediately upon purchase.

Assessing the financial impact a project will have on the organization is a key milestone to getting leadership to support the project. Knowing what financial statement the project will affect is also important. Being able to ?speak finance? lends credibility to the business case.

In this module the 4 basic financial statements will be introduced. In the world of Lean Six sigma, there are hard savings and soft savings and they are not treated equally. A review of these so called hard and soft savings will be discussed. Then we identify and quantify project benefits including Cost of Quality issues, Hard, Soft and Balance Sheet Benefits and Cash Flow.

The mantra ?What gets measured . . . gets done!? People will behave according to how they are measured. When you have the correct metrics, the following results: the correct outputs are achieved, desired behaviors result, rapid and relevant feedback becomes available, progress towards achieving planned goals occurs, cultures change and financial performance improves. Understanding this is the focus of this module.

Got a question about the product? Email us at support@flevy.com or ask the author directly by using the "Ask the Author a Question" form. If you cannot view the preview above this document description, go here to view the large preview instead.

Source: Best Practices in Financial Management PowerPoint Slides: 008_Financial Management PowerPoint (PPTX) Presentation, Michael Carter

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OVERVIEW

File Type: PowerPoint

(PPTX)

File Size: 127.5 KB

Number of Slides: 19 (includes cover and all slides)

Initial upload date (first version): Jan 6, 2015

ABOUT THE AUTHOR

Author: Michael Carter

Additional documents from author: 95

We believe you should love what you do, learning should be fun, skills must be relevant, and yesterday's methods can always be improved. 6ixsigma<dot>org was founded to help organizations and 'Belts' successfully deploy and apply Lean Six Sigma to solve real problems. All of our training materials cover DMAIC, DMADV and Lean as an integrated methodology, we also cover the Shainin methodology. [read more]

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