Cybersecurity- An Exaggerated Story or the Face of Reality?

In 2020, the average cost of data breach was well above 4 million USD globally, and around 9 million just in the United States. So many cases of identity theft, hacking, ransomware attacks and what not happening all across. This is why its said that we need to have proper cyber security for all our systems to protect our information and confidential data.

But what exactly is Cybersecurity?

Cyber security is the act of shielding basic frameworks and delicate data from digital assaults. Otherwise called information technology (IT) security, cyber security measures are intended to battle dangers against arranged frameworks and applications, regardless of whether those dangers start from inside or outside of an organization.

So, what are some of the myths regarding cyber security?

The first one is that cyber criminals are outsiders. But the truth is that cyber security breaches are mostly a result of malicious insiders either working for themselves or for a hacker. They can be part of a group or even be backed by nation- states.

The second one we hear often is that the risks are well known. Truth be told, the risk surface is as yet extending, with a great many new weaknesses being accounted for in old and new applications and gadgets. Furthermore, openings for human blunder – explicitly by careless workers or workers for hire who unexpectedly cause an information break – continue to increment.

The attack causing vectors are contained. But the reality is that cybercriminals are discovering new assault vectors constantly – including Linux frameworks, functional innovation (OT), Internet of Things (IoT) gadgets, and cloud conditions.

And the most common one we always hear- my internet is safe. Each industry has a lot of online protection risks, with digital foes taking advantage of the necessities of communication networks inside pretty much every administration and private-sector organization. For instance, ransomware assaults are focusing on more areas than any other time in recent memory, including neighborhood governments and non-profits, and dangers on supply chains etc.

What are the common Cybersecurity threats?

In spite of the fact that cybersecurity experts make a solid effort to close security holes, attackers are continually searching for better approaches to get away from IT notice, avoid guard measures, and take advantage of arising shortcomings. The most recent online protection dangers are rethinking “known” dangers, exploiting work from home conditions, remote access devices, and new cloud administrations. These developing dangers include:

  • Malware

The expression “malware” alludes to malicious programming variations—like worms, viruses, Trojans, and spyware—that give unapproved access or cause harm to a PC. Malware attacks are progressively “fileless” and intended to get around familiar discovery strategies, for example, antivirus tools, that sweep for malicious record connections.

  • Ransomware

Ransomware is a sort of malware that secures records, information or systems, and takes steps to erase or destroy the information – or make private or sensitive information to general society – except if a payment is paid to the cybercriminals who dispatched the attack. Late ransomware attacks have targeted state and local governments, which are simpler to penetrate than organizations and under the gun to pay ransoms to reestablish applications and sites on which citizens depend.

  • Phishing/social engineering

Phishing is a type of social engineering that fools clients into giving their own PII or sensitive data. In phishing tricks, messages or instant messages give off an impression of being from a genuine organization requesting sensitive data, for example, Mastercard information or login data. The FBI has noted with regards to rise in pandemic-related phishing, attached to the development of remote work.

  • Insider dangers

Current or previous employees, colleagues, project partners, or any individual who has approached the systems or organizations in the past can be viewed as an insider danger in the event that they misuse their entry authorizations. Insider dangers can be invincible to customary security arrangements like firewalls and interruption location frameworks, which center around outside dangers.

  • Distributed denial-of-service (DDoS) attacks

A DDoS attack endeavors to crash a server, site or network by over-burdening it with traffic, typically from numerous coordinated systems. DDoS attacks overpower enterprise networks through the simple network management protocol (SNMP), utilized for modems, printers, switches, switches, and servers.

  • Advanced persistent threats (APTs)

In an APT, a gatecrasher or gathering of gatecrashers penetrate a system and stay undetected for a long period. The gatecrasher leaves networks and frameworks flawless with the goal that the interloper can keep an eye on business movement and take delicate information while staying away from the enactment of guarded countermeasures. The Solar Winds breach of United States government frameworks is an illustration of an APT.

  • Man-in-the-middle attacks

Man-in-the-middle is a listening in attack, where a cybercriminal captures and transfers messages between two gatherings to take information. For instance, on an unstable Wi-Fi organization, an assailant can capture information being passed between visitor’s gadget and the network.

How can we be cyber secure?

Organizations today don’t have the advantage of picking whether to carry out cyber security approaches. It is presently obligatory in light of the fact that a cyber-attack can target anyone. While it is difficult to be 100% digital secure, there are a few ways an organization can carry out to acknowledge ideal network protection.

  1. Create cyber awareness

Cyber awareness and training should comprise of compelling practices for overseeing passwords. Passwords give the most direct type of protection, yet they can cause numerous security rates if not oversaw well. Effective password management incorporates making solid passwords that are hard to break, continually locking a workstation with a perplexing secret key, and noticing secure secret word stockpiling. Phishing assaults use messages where the attacker sends a malicious link or attachment to a target. Identification of such messages can lessen the chance of a phishing assault. Preparing the users to spot counterfeit messages.

2. Secure against information leaks

Information spillages are among the greatest dangers to an organization’s online protection. Information spills have the capability of causing unrecoverable harms both at an individual and at an organization level. Each business handles sensitive information, including the individual details of a client, private representative and provider information, information uncovering the organization’s essential headings and destinations, scholarly properties, and so on Information spills including such kinds of data can have extreme ramifications for the business.

One method of preventing information spills is by restricting information available by the general population. An association should not be sharing client or worker information in a public area like on Facebook.

Also a few representatives in an organization may be insider dangers. These representatives might utilize organization information for malicious reasons. Such problems are avoided by implementing access control measures.

3. Secure against ransomware attacks

Ransomware attacks have been the highest danger to organizations for quite a long time. The assault is the place where a cybercriminal scrambles the casualty’s information or IT resources and requests enormous installments as a payment to give decoding keys. Although the assaults target information for the most part put away in actual PCs, there is an expanded pace of ransomware assaults focusing on information put away in the cloud.

Protection against ransomware assaults includes making various reinforcements and putting away them in secure and separate areas. Regardless of whether an attacker encodes the information put away in actual PCs, an organization can recover the reinforcements and continue with everyday tasks. Cloud reinforcements are sufficient, however they can in some cases be inaccessible. Consequently, the reinforcements ought to be duplicated in locally accessible yet profoundly secure gadgets.

4. Prevent phishing and social engineering attacks

To quit phishing assaults, do not open attachments or links sent by unknown people. All suspicious email addresses requiring one to click on links or attachments or ask the recipient for personal information ought to be set apart as spam and sent to the IT division for more action.

Keeping away from sensitive posting data like email addresses on online stages can bring down the odds of a phishing assault.

5. Adopt policies for securing emerging technologies

Arising advancements may not be compatible with different systems, and this amplifies the security hazards. An organization ought to take on solid strategies administering the securing and utilization of new advances inside the working environment as a feature of its network safety programs.

3 Prominent Industries AI is Transforming

Have you ever come across the fancy work “AI” which has seen to be revolutionizing the business and industry for quite some time?

I am sure, most of us have come across that and wondered what it actually is? What could it do to us? How could it transform businesses? Why is there a growing concern for the job market with respect to AI?

There are a lot of such questions which lacks precise answers, but there are certain transformations that AI has enabled in the past and it has tremendously changed the way a business functions. Many people think it’s too complex to comprehend and try to stay away from it. But intentionally or unintentionally “Artificial Intelligence” is coming into everyone’s home and off course it’s among us in various aspects and we’re in touch with a lots of AI systems these days. Please don’t panic about the exaggeration shown in terminator and other movies of AI taking over the whole world. We aren’t anywhere near that for now. All that AI focuses on now is to mimic the human brain to learn, reason, adapt take decisions and complete the assigned tasks. There are various algorithms used which enables the functioning of AI systems. Artificial intelligence is in-fact the superset comprising of machine learning and deep learning as its subsets.

I understand that a question would pop up, what does that mean? How is it related? We’ve got you covered in this.

History of AI

The term AI was coined in 1956. Arthur Samuel is regarded as ‘The father of Machine learning’. Neural Networks were the start point in 1950-1970, which later gave rise to Machine Learning in 1980-2000 and finally deep learning emerged which is used since then to design a AI system

Motivating factors for mass adaptation of AI:

  • Huge data volumes
  • Advanced algorithms
  • Improved computing power and storage
  • Automating repetitive learning and discovery through data
  • Addition of intelligence to existing systems
  • Adaptation via progressive learning algorithms
  • Incredible accuracy

Types of AI systems

The primary classification of AI is into Strong AI and Weak AI.

How AI works?

1. Manufacturing

Artificial Intelligence will transform the manufacturing industry, congratulating it on overcoming many of its inherent challenges; technologies will be useful in full automation, decision-making, integration and information flow; and completely transforms production processes. Production will grow by 40% by 2035. Benefits will include: rapid data-driven decision making, contributing to improved operating results, improved process efficiency and reduced operating costs, and outstanding product development and scalability.

Machine learning solutions can speed up inventory planning because they do a good job forecasting demand and scheduling supply.AI-powered demand forecasting tools provide more accurate results than traditional demand forecasting methods (ARIMA, exponential smoothing, etc.). These tools enable companies to better manage inventory levels, which reduces the likelihood of out-of-stock and out-of-stock scenarios.

Industrial robots, also known as manufacturing robots, automate repetitive tasks, prevent or reduce human error to a small extent, and shift the focus from human labour to more efficient areas. The applications of robotics in factories are varied. Applications include assembly, welding, painting, product inspection, assembly and placement, forming, drilling, glass making, and grinding.

Industrial robots have been present in manufacturing plants since the late 1970s. With the addition of artificial intelligence, industrial robots can monitor their accuracy and performance and automatically learn to improve. Some production robots are equipped with computer vision, which helps the robot to move accurately in difficult and random environments. Cobot is another robotics application that uses computer vision to work safely with people to complete a task that cannot be fully automated.

2. Automobile

This is especially true in the case of transportation: people need to sleep, eat, use the toilet, take breaks, etc. With autonomous vehicles, transportation will no longer be limited to 8 hours a day, 5 days a week. Tesla is a prime example of self-driving cars, producing not only cars, but also self-driving trucks. Another lesser known example is Rolls Royce and Intel. Together, they created an intelligent cognitive system that opens the door to autonomous ships.

 Self-driving cars can save time, limit energy consumption and significantly reduce more than 1.25 million road traffic deaths each year. Indeed, with a high proportion of fatalities caused by human error, self-employed start-ups in the UK can save hundreds of thousands of lives each year. Oxbotica is the manufacturer of Selenium, an artificial intelligence-based software system that, once installed, allows multiple vehicles, not just cars, to understand and manage their immediate surroundings. in late 2018, its vision sensors were used aboard NASA’s rover.

3. Healthcare

Artificial intelligence is changing the healthcare industry like never before from robotic operations to protecting personal data from cybercriminals. The healthcare industry has been hit by medical costs and inefficient processes.

Artificial Intelligence Workflow Assistants help doctors free up to 17% of their time. Virtual assistants reduce hospital repeat visits by giving nurses nearly 20% of the time by last name. Plus, AI is helping pharmaceutical companies research life-saving drugs in less time, saving time and cutting costs. More importantly, AI is being used to improve healthcare in countries around the world. According to a 2016 CB Insights report, approximately 86% of healthcare organizations worldwide will use artificial intelligence. By 2020, spending on AI projects in the healthcare sector will reach $54 million. Healthcare implementations will be useful in medical record management, laboratory analysis, X-rays, CT scans, data entry, treatment design, virtual nursing, and more.

 AI in healthcare is huge, and technology is transforming the industry by offering the best healthcare solutions. The combination of artificial intelligence and the Internet of Medical Things (IoMT) makes healthcare workers more efficient with research and teaching. Apps powered by artificial intelligence technology help people to actively lead healthy lives. AI is revolutionizing healthcare by empowering doctors and hospitals to deliver better care, more patients, and faster.

 Babylon Health has developed an artificial intelligence chat application available to the UK National Health Service (NHS) that people can use as their first point of contact when they are not feeling well. The app answers patients questions about their symptoms 24/7, providing free instant medical advice on what to do next. It is also possible to sign up for a video consultation and, if necessary, talk to a doctor, prescribe medicines and application can save the patient from unnecessary visits to the doctor.


 The advancements and trends include;

  • In 2014 Deloite predicts a growth of $1 billion to $50 billion.
  • IBM invested $1 billion in their Watson technology.
  • Around 2,948 investors invested in 423 new Machine Intelligence firms.

The AI evolution is already here and it is to take its respective place within our society and environment. It will for sure re-define the roles and responsibilities in the job market. We should buckle up and embrace the Artificial Intelligence transformation to cope up with the upcoming trends to stay updated and take part in the AI revolution.

Welcome to the AI era!

Cryptocurrency- Is it Safe ? [Latest]

Cryptocurrency is a type of digital payment system which doesn’t depend on banks to validate the transactions happening. It can be said as a peer to peer system which enables anyone to send and receive accurate payments from anywhere.

The payments of cryptocurrency exist purely as digital entries to an online database that describe specific transactions whereas in the case of physical money which is carried around everywhere and is exchanged in the real world. Whenever we transfer cryptocurrency payments, the transactions are recorded in a public ledger and we store the cryptocurrency in a digital wallet.

Cryptocurrency received its name because it mainly uses encryption to confirm the transactions happening which mean that advanced coding is involved in storing and transmitting cryptocurrency data between the wallets and to the public ledgers. The main objective of encryption is to provide security and safety.

It does not exist in the physical form that we generally see and is not issued by a central authority and typically they use decentralized control as opposed to a central bank digital currency. Moreover, cryptocurrency when it is created in advance of granting or issued by a single issuer it is typically considered centralized.

Bitcoin which is first released as open-source software in the year 2009 is the first decentralized cryptocurrency. Many other cryptocurrencies are created after bitcoin was created.

A Brief History Lesson

Firstly, in 1983, the American cryptographer David Chum had an idea of anonymous cryptographic electronic money which was called e-cash. Later in the year 1995, he implemented it through Digicash which was an early form of cryptographic electronic payments.

Then in 1998, Wei-Dai published a description of “b-money” which was characterized as an anonymous, distributed electronic cash system. After some time Nick Szabo came up with bit-gold which was later described as an electronic currency system.

Satoshi Nakamoto created the first decentralized cryptocurrency bitcoin in 2009. As an attempt in creating a decentralized DNS, Namecoin was created in April 2011. Then in the October of 2011, Litecoin was released,

Finally, the first country to accept Bitcoin as a legal tender came to be El Salvador under President Nayib Bukele.

Security in Cryptocurrency

Blockchain technology is mostly used to build cryptocurrencies but it also describes the way in which transactions are recorded into various “blocks” and time-stamped. It’s a reasonably difficult, technical process, but the result is a digital ledger of cryptocurrency transactions which is hard for the hackers to corrupt or meddle with.

Transactions in cryptocurrency require a two-factor authentication process. In which we need a username and a password and you have to enter the same to start a transaction. After that, we will have to enter an authentication code which is sent through text to our personal mobile phone. Do check out this beginner’s guide to the crypto world for more information.

Cryptocurrency Security Standard (CCSS)

The CCSS or the cryptocurrency security standard is an open standard that focuses predominantly on cryptocurrency storage and usage within an organization and it is mainly designed to augment the standard information security practices and to accompany the existing standards and not to replace them. PCI DSS standard is applicable to the whole transaction flow whereas the CCSS standard or the cryptocurrency security standard does not provide the same coverage as the PCI DSS and it only focuses on the tight management of the crypto wallets and it also requires additional security measures to secure the area within which the crypto-security management components could operate.

In order to make sure the standard remains unbiased and to make it recent with the industry best practices, the CCSS is managed by the CCSS Steering Committee, which is formed of crypto space subject matter specialists. If you are interested in similar content take a glimpse at our recent article on bitcoin. Stay connected for more informative and interesting content!

The Dream that was Bitcoin

In the early 2010s, a currency roamed in thousands across the online black markets like Silk Road with no one batting an eyelid. The drug users who traded these coins for opioids never knew what they had was going to revolutionize the financial markets as we know it within decades. And that seemingly ghost of coin was Bitcoin which as of today is the father to every crypto-currency that was since made.

Just as I am typing up this article one Bitcoin is worth 2988117.98 rupees and is in the news for making many billionaires to have insomnia. The primary reason for it being how risky the crypto-space is, with Bitcoin going down by a lot just because our so called “Iron Man” tweeted weeks ago. All this is happening here in the midnight of the 5th of August, 2021 but it was never created for what it is being used today so let us look back and see what Satoshi Nakamoto was hoping to accomplish through this invention.

The Genesis

In September 29, 2008 the Stock Market crashed and the once proud Lehman Brothers filed for bankruptcy. After the chaos settled, somewhere in the interwebs an individual or a group of individuals by the name of Satoshi Nakamoto understood that the financial world is contingent and subservient to the big banks for acting as intermediaries in financial transactions. So it was the time to come up with a possible solution, and on 3 January 2009 the Bitcoin Network was created when Nakamoto mined the starting block of the chain, known as the Genesis Block

Embedded in the coin base of this block was the text “The Times 03-Jan-2009 Chancellor on brink of second bailout for banks”. It referenced a headline published by The Times and has since been interpreted as both a timestamp and a comment on the instability caused by fractional-reserve banking.

So the initial dream of Bitcoin was to create a peer to peer payment system that did not rely on third party confirmation. This way, the banks did not need to be involved in each and every transaction. It would rely on the standard of “proof of work”, which employs mathematical algorithms to confirm transactions without using a central authority (banks). Instead of the central network, the blockchain comes in.

What is Proof of Work?

Wikipedia defines it as Proof of work (PoW) is a form of cryptographic zero-knowledge proof in which one party (the prover) proves to others (the verifiers) that a certain amount of a specific computational effort has been expended. Verifiers can subsequently confirm this expenditure with minimal effort on their part.

Or simply put, in order to gain the right to update the next block of transactions, you need to provide proof to a challenge that is hard to solve, yet can be easily verified by the network. Hence providing proof that you’ve done work in solving it.

Blockchain: a Non-Nerdy Definition

Blockchain is essentially a method of storing a list of entries, which cannot be changed easily after they are created. This also applies to the list and can be done by using several concepts from cryptography.

It is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. Each block in the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant’s ledger.

The Bitcoin Dream and the Schrodinger’s Cat

So why did I use this boring, overused and inhumane physics metaphor of a possible cute dead cat here you ask?

It’s simply because it fits well with what Bitcoin is today. There are people wondering if this crypto-currency should be locked up in a museum somewhere as we have numerous improvements on the skeleton of Bitcoin such as Ethereum, Cardano and so on. But the actual reason why a lot of early pioneers feel nostalgic about the entire project of Bitcoin is because it was never meant to be a speculative asset as it is used today but as a currency that would replace fiat currency. With Elon Musk’s crazy tweets shaking the financial markets and causing nightmares for investors of where this spaceship is headed, there’s still a tiny hope that there would come a day when we would use it as what Nakamoto intended it to be.

That tiny glimmer of a hope that the cat is still alive and will climb back on our shoulder.

The Ultimate Ledger

Is Blockchain a New Alien Technology ?

The one term that has been creating a buzz in all fields is the word ‘Blockchain’. The response to the said word varies from groups to groups. While some people seem interested by the word and everything it means, some are petrified of it taking over their jobs and the world around them. Whichever group you may belong to, one thing can be stated as a fact. Blockchain is huge. It is spreading its wings and slowly but steadily spreading into every slice of our life.

Albeit Blockchain did not gain its current stardom till Mr. Satoshi Nakamoto in 2009 adapted block chain to create cryptocurrency, the idea of blockchain originated in 1991, when a group of researchers decided to timestamp digital documents in a manner that it becomes close to impossible to backdate them or tamper with them.

So, How can we Understand it Simply ?

Very simply put, blockchain is a chain of block that contains information.


Let’s simplify, imagine blockchain as a set of blocks connected to one another. Each block has three pieces of key information. Data, hash and hash of the previous block.

Data in a block can vary with the type of chain it belongs to. For example, one of the most common use of block chain is cryptocurrency, in such case, the data will contain the information of sender, receiver and the amount or the number of coins.  Hash could be understood as a unique identity code for a block. Each block is given a unique hash at its origin. And with each change in the block the hash of the block changes. Hence useful when you want to detect changes to the given block. The third piece of information is the hash of the previous block. This is for the user to understand how the current block is related to the previous one and what the changes made were from one block to another. Or put simply this will point to its previous block.

Ledger 6.0

Blockchain is a distributed ledger that is completely open for anyone to read. The first block is called a genesis block. Genesis block is peculiar due to the fact that it does not point to any previous blocks. It is first of its kind. Let us understand how blockchain protects the data from being tampered.

Imagine six blocks of data with hashes of the previous block. Now imagine someone tampered with just the second block. Now the hash of the second box is completely different and the rest of the blocks in the chain is rendered invalid since the third block cannot place its predecessor. Now you might think, but can’t we simply rewrite the information using our advanced computer systems?

Actually yes, but blockchain technology has seen right through you. It has put into a place a system referred to as Proof of Read which slows down the rewrite of hash. It might even take up to 10 minutes to rewrite hash of one single block! Now, imagine the time when the chain has over 100s of blocks. Not to mention that the members that are in the blockchain will immediately notified when a change is made. Hence rendering block chain, a very public ledger that is almost impossible to meddle with.

The days we adapt blockchain technology to safely store information is not unforeseeable. In fact, the increasing amount of data that is being generated every second, demands a structured, systematic and secure way of doing transactions, be it personal or professional.

Strategic Process Improvement

strategic process improvement

As a management professional, we consume a lot of time by sticking to traditional management mechanisms. This can affect productivity and can be resolved by introducing some strategic process improvement methods. While general process improvement techniques deal with milestone-based process enablement, strategic process improvement looks into the bigger picture. It might be a small difference from a lower level, but it can change a lot in cost or productivity. Strategic process improvement addresses inefficiencies, waste, cost, asset conditions, and culture within the process and stakeholders.

The essence of strategy is choosing what not to do.
– Micheal Porter

Improving the process in an ongoing project helps you and your team achieve small gains that make a big difference. The following are the points to consider while re-structuring the process:

Describe and measure the process

In most organizations, processes are not described or maybe the described process will be explained over a document with 1000 pages that nobody wants to spend time on understanding. A standard operating procedure with minimal documentation can be a way to eliminate inefficiency. Also, most firms don’t measure the cost and effect. Activities that we cannot measure, cannot be managed.

Set KPIs for each associated activities

It is advised to keep three to five Key Performance Indicators (KPIs) related to cost, efficiency, and the effects you want to achieve. Project Management KPIs related to Project Schedule, Estimate to Project completion, Resource allocation, etc. are the right choice to track. KPIs to measure the deviation of the planned budget helps in tracking down waste and inefficiency. Understanding which activity took more or less time using deviation in planned hours can help build a meaningful incentive and reward program. It will also help in better allocation planning. A cost variance KPI will help the team in understanding which set of resources or processes are most efficient. It also gives a bigger picture of deciding whether the project was worth the investment, and whether to initiate similar projects.

Improve, Automate, or Eliminate the Process

There might be a process that is time-consuming but could be improvised with certain tweaks. Identify such a process and improve them using standardized procedures. Most organizations prefer looking into Automation and RPAs in their repeating processes, this is a major way where companies cut the cost of the process or project. Some processes can be eliminated too, which will not be affecting the overall output of the project. For instance, in manufacturing, Quality checks can be eliminated after each stage, and instead, a final quality check at the assembly line could save a lot of time. Quality checks that cannot be eliminated at each stage can be automated which helps in cost-cutting.

Develop mechanisms to prevent going back to old Procedure/Habits

Even after introducing a new process, some may not be able to adapt quickly from the traditional procedure existing for a long time. It is fair to keep training and awareness programs to make resources to net fall back to the old traditional procedure. Use of tools or mechanisms such as mistake-proofing (poka-yoke), routines, checklists, etc so that the resource might not go back to the old habits.

Standard Methods in Process Improvement

Few process improvement methods that are effective for any organization are as follow –

Lean Manufacturing

It is a methodology that focuses on minimizing waste within manufacturing systems while maximizing productivity. Waste can be defined as anything that does not add value to the customer or is not willing to pay for it. Lean Manufacturing was developed by Toyota as TPS (Toyota’s Production System)in 1930. However, there were issues existing from the TPS which was responded by the development of Kaizen. TPS was renamed as Lean in 1988 by John Krafcik in his article “Triumph of the Lean Production System”.

Theory of Constraints

Similar to Lean Manufacturing, in Theory of Constraints, the focus is on identifying and eliminating the important limiting factor. This can be any limiting factor that stands in the way to achieve the goal and then systematically improving that constraint until it is no longer a constrain. TOC consists of 5 steps:
1. Identify the System’s constraint(s)
2. Decide how to exploit the system’s constraint(s)
3. Subordinate everything else to the above decisions
4. Alleviate the system’s constraint(s)
5. If a constraint has been broken in the previous step, go back to step 1.

Critical Chain

In a project plan, the critical chain is the sequence of both precedence and resource-dependent that takes prevent a project from being completed in a shorter time with limited resources. The critical chain is similar to critical path analysis. Critical Chain is a traditional method derived from ‘critical path’ and ‘PERT’ algorithms, which emphasize task order and rigid scheduling. Critical chain project management uses buffer management instead of earned value management to assess the performance of a project.


6-Sigma is a process improvement strategic approach developed by Bill Smith, an American engineer while working in Motorola in 1986 which was later adopted by Jack Welch to General Electric in 1995. Lean Manufacturing and six sigma share similar methodologies and tools. However, Lean focuses on eliminating waste using a set of proven standardized tools and methods which are in line with organizational efficiency and implementing a performance improvement system utilized by anyone. In Six Sigma, the focus is on eliminating defects and reducing variation. Six Sigma is more dependent on accurate data than Lean Manufacturing methodology. Six Sigma consists of two methodologies: DMAIC (Define, Measure, Analyze, Improve, Control)and DMADV/DESS (Define, Measure, Analyze, Design, Verify)


SIPOC stands for Suppliers, Input, Process Output, and Customers. SIPOC, also known as COPIS, is a tool that summarizes all the input and output processes in table form. This tool is used to explain a business process throughout the entire business lifecycle. This tool can be used to identify all relevant elements of a process improvement project before it is started. It helps in defining a complex process that might not be well scoped, and typically implemented at the measure phase of Six Sigma DMAIC methodology. It is similar to process mapping and ‘in/out of scope’ tools.