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Risk Management in TIMWOOD Implementation

The document presents a project on risk management in TIMWOOD implementation, which is a lean manufacturing concept aimed at eliminating waste. It outlines the seven types of waste, associated risks, challenges faced during implementation, and key findings with suggestions for improvement. The conclusion emphasizes the importance of effective risk management in optimizing processes and achieving project goals.

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sanket
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4 views10 pages

Risk Management in TIMWOOD Implementation

The document presents a project on risk management in TIMWOOD implementation, which is a lean manufacturing concept aimed at eliminating waste. It outlines the seven types of waste, associated risks, challenges faced during implementation, and key findings with suggestions for improvement. The conclusion emphasizes the importance of effective risk management in optimizing processes and achieving project goals.

Uploaded by

sanket
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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DR. D. Y.

PATIL VIDYAPEETH, PUNE


Project Management
Final Year MBA-2022-23

TOPIC: RISK MANAGEMENT IN TIMWOOD


IMPLEMENTATION
Presented By: Guided By:
Sanket. S. Kawde Prof. Vikas Pawar
AGENDA

⮚ OVERVIEW OF TIMWOOD,
⮚ 7 TYPES OF WASTES,
⮚ RISK ASSOCIATED WITH TIMWOOD,
⮚ CHALLENGES & HOW I OVERCOME THEM,
⮚ KEY FINDINGS AND SUGGESTIONS,
⮚ LEARNING OUTCOMES,
⮚ CONCLUSION.
TIMWOOD
TIMWOOD
TIMWOOD is a lean manufacturing concept designed to
eliminate waste and increase efficiency,

TIMWOOD stands for Transport, Inventory, Motion, Waiting,


Overproduction, Over-processing, and Defects.

TIMWOOD was first implemented in Toyota and it was


developed by Taiichi Ohno,
7 TYPES OF WASTE’S

Transport

Defects Inventory

TIMWOOD
Over-
processing Motion

Over-
production Waiting
RISK ASSOCIATED WITH TIMWOOD

Resistance Unrealistic
to change expectatio
ns

Lack of
employee Inadequate
engageme monitoring
nt

Insufficient Implementa
training tion cost
CHALLENGES & HOW I OVERCOME THEM

Collecting Data for • Interviews of


finding the risk employees,
associated with • Identifying the area of
implementing scope,
TIMWOOD • Background Study

• Employees Training,
• Employee
Mitigation of Risk’s
Engagement,
• Continues Monitoring.
KEY FINDINGS AND SUGGESTIONS

FINDINGS SUGGESTIONS

Prioritize
Risk Mitigation
Risks Develop
Continuous
Improvemen Mitigating
t Strategies

Improved
Quality Training and
Control Education
LEARNING OUTCOMES

Doing Research is the most efficient way to collect data

Organizing your work & put a timeline make a work easier

Employee engagement is best tool to find and overcome the risk’s

Implementing Lean Principles needs patience and time to show it’s magic

Project management needs birds eye on every aspect of project


CONCLUSION

At last we can conclude, by identifying and mitigating the risks associated


with each element of the TIMWOOD model, organizations can minimize
disruption, optimize processes and achieve their project goals.

Effective risk management in TIMWOOD Implementation significantly helps


in:

⮚ Enhanced Decision-Making,
⮚ Minimized Disruptions and Delays,
⮚ Cost Savings,
⮚ Increased Project Success Rate,
⮚ Continuous Improvement and Learning.
THNAK YOU !

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