Have you ever encountered a process that had too many steps or was overly complicated? Perhaps you examined the process and looked for areas where you could remove steps or simplify its flow. If you did, you were conducting a process flow analysis. Process analysis is an important step in determining the financial well-being of an organization and pinpointing areas where changes could help improve the bottom line. In this Assignment, you will create a process flow analysis (also known as workflow diagramming) for an activity in your own organization (or one with which you are familiar).
Describe the process you analyzed and how you went about gathering the necessary information to create your flow analysis map. Identify specific areas of white space that need to be addressed and propose strategies for improving the process. Analyze how process flow analysis can be a useful tool in financial decision making and the ramifications of not using it. Be sure and include your flow analysis map when you turn in your paper.
Reminder: This Discussion assignment serves as your Portfolio Assignment for this course. Be sure to save this Discussion Assignment on both your hard drive and on an external drive.
Describe the process you analyzed and how you went about gathering the necessary information to create your flow analysis map. Identify specific areas of white space and propose strategies for improving the process. Analyze how process flow analysis can be a useful tool in financial decision making and the ramifications of not using it. Be sure and include your flow analysis map as part of your post.
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