Original Date: 09/14/1998
Revision Date: 01/18/2007
Best Practice : Five Panel Chart
The Five Panel Chart is a metrics tool used by Raytheon Missile Systems Company (RMSC) management to focus on factual and data-driven issues. This simple, standardized tool is flexible enough to focus on a specific area requiring management attention (e.g., process improvement initiatives, goals, corrective action). As its name implies, this one-page chart consists of five panels:
INITIATIVE Establish a goal;
Initiative(s) listed should address the key driver(s) in the Leverage Section, and directly impact the achievement of the goal.
LEVERAGE Describe the key driver(s) to the process which, if fixed or improved, would be a major contributor to cost reduction;
How does this initiative improve competitiveness, customer satisfaction, and cost?
CUSTOMER INVOLVEMENT Identify key customer(s);
Must get customer(s) input relative to the initiative(s).
COMMENTS Establish a benchmark by which the initiative(s) will be measured;
List words which are updated monthly to provide current status, discuss accomplishments, address changes, and propose/establish future challenges.
METRIC CHART Use specific metric/chart;
Must include an illustration of a goal line;
An enlargement of the metric may be included on a second page;
Below the visual/enlargement, include table of raw data used to derive the metric.
RMSC developed the Five Panel Chart to provide a common process across the company for focusing management attention on critical facts and data. This tool is low tech and easy to understand, but very powerful when applied consistently and uniformly across the business. The chart focuses attention on salient facts/data related to business issues, such as customer satisfaction, competitiveness, and cost. The specific metric/chart provides an effective visual display of status and progress. This practice has demonstrated its adaptability to any organization within RMSC, and provides a consistent tool for presenting key business metrics. The Five Panel Chart has established itself as one of the most effective tools, used by management, to identify and illustrate the state of the business.
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