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World Journal of Engineering
Research and Technology

An International Peer Reviewed Journal for Engineering Research and Technology

ISSN 2454-695X

Impact Factor : 5.218

ICV : 79.45

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Indexing

Abstract

SIGNIFICANCE OF INTEGRATING LEAN PRINCIPLES IN RISK MANAGEMENT PLANNING PROCESS

R. Parameshwaran Rasiah Subramaniam* and Puvanasvaran A.Perumal

ABSTRACT

Poor risk management planning will lead the project to failure. Through project planning, there is an assurance that the product that is being delivered is the worthwhile project as desired by the customer. Many companies are currently integrating lean principles in an effort to boost their operations and outcomes. Recent studies have shown that the principles of “Lean” are not only effective in the manufacturing and systems engineering processes but also in improving customer satisfaction. Through lean production, improvement in efficiency is attained and thus satisfactory projects are attained. There are several problems that necessitate change in an organization. Some of these problems comprise of poor planning, lack of qualified personnel, poor facilities, poor time management, ineffective customer communication and engagement. In conclusion, the advancement of lean principles has the capability of eliminating risks in production process and thus creating value to customers.

[Full Text Article]