Lean management has led to exceptional successes in the development and production of cars. The same methods can be applied to IT projects to achieve better results with fewer resources.
In automotive companies, the planned market launch dates and the target cost are fixed factors in new vehicle projects that must be achieved, since otherwise the new vehicles would not have a chance in the market due to the fierce international competition. A car manufacturer that can only achieve the average success rate of IT projects in the development and production of new cars would be bankrupt within just a few years.
During the past 15 years, the development and production sectors of the automotive industry have not only been able to improve the quality and efficiency of their vehicles dramatically, but also to cut the development time in two and to give the customer “more car for the same money”. It is no wonder that the customer satisfaction of new vehicle purchasers continue to set new records year after year. The reason for this success story is Toyota’s lean management methods that became public knowledge toward the beginning of the 1990s. The basic principle of lean management consists of eliminating any type of waste in a company, which means to identify and eliminate all activities and components that do not create a respective added value for the customer.
Read more about lean management and the significance of this method for the banking sector in the attached article that was published in August 2006 in “die bank”.