Question

Frederic Taylor applied the scientific method to management. In many cases, this meant measuring a process to determine its optimal possible output. From your own work experience, discuss a time you have seen measurements used to manage a process. Examples might include allowing a certain amount of time for a phone call or a project deadline. Do you believe the results were optimal, based on the measurement used?

Answer 1

Answer:

Daily measurement of credit analyst production.

Explanation:

The financial institutions have a department that is in charge of deciding if a credit application is viable or not. Usually there is a great amount of credit applicants and the work load is high for the credit analyst that have to give a financial assessment of each customer asking for a loan.

In this context the measurement of the time that is spend by each credit analyst in order to successfully complete the analysis of one application is vital in order to decide what is going to be the number of credits that each analyst must process in a day.  

Usually the Manager of this department measures the time spend by an analyst regarding the type of loan that the client is asking for. In this sense it will be faster to analyze an application that only ask for a credit card than an application that ask for a mortgage.  

Upon the results they divide the quantity of hours available to work into the time spend to each analysis and finally decide what is going to be the final amount of credits that an analyst most process.

I believe that the results of this measurements are optimal if the sample that is used is broad and it takes into account days where the number of credits available to analyze are few and a lot.