4. Criteria : Time

The phrase 'time is money' is very true in business. And so saving time can be as important as profit or cost reduction.

For example, consider an order that takes two hours to process from customer contact to placement. Buying a car perhaps.

If that time could be halved, then everyone benefits. The customer is happy because they can get on with other things. The business is happy because staff cost per order is reduced and throughput capacity has doubled.

A time-saving project could be in any part of a business model. And the evaluation criteria should be set so that the time saving is quantifiable.