Criteria to pursue an opportunity

Q

QAMTY

#1
hello everybody

Does anybody know methods to use in order to decide if is worth to pursue an opportunity? (6.1 Actions to address risks and opportunities).

I think that similar to the way we evaluate a risk, maybe would also exist something for opportunities.

Something like PxB, probability multiplied by the benefit and according to the value, to decide what to do.

Because this is to comply with 9001 RBT, we may do it more simple.

When an opportunity appears, ok, by doing a quick evaluation, maybe filling out a form, where is mentioned the opportunity, the benefit, the cost of the opportunity, and the top management decide the action based on shown info
but not using a PxB formulae.

please share your thoughts


Thanks
 
Elsmar Forum Sponsor

Miner

Forum Moderator
Staff member
Admin
#2
The simplest approach is a simple 2x2 matrix. One axis is the impact on the business (low or high). The other axis is ease of implementation (easy or difficult). Your first priority should be those opportunities that have high impact and are easy to implement. Next are the high impact but difficult and low impact but easy. If an opportunity is low impact and difficult, you choose to forgo the opportunity.
 

Wes Bucey

Quite Involved in Discussions
#3
hello everybody

Does anybody know methods to use in order to decide if is worth to pursue an opportunity? (6.1 Actions to address risks and opportunities).

I think that similar to the way we evaluate a risk, maybe would also exist something for opportunities.

Something like PxB, probability multiplied by the benefit and according to the value, to decide what to do.

Because this is to comply with 9001 RBT, we may do it more simple.

When an opportunity appears, ok, by doing a quick evaluation, maybe filling out a form, where is mentioned the opportunity, the benefit, the cost of the opportunity, and the top management decide the action based on shown info
but not using a PxB formulae.

please share your thoughts


Thanks
Sure. My colleague, Miner, has the basics, Essentially this is a variation of a FMEA (Failure Mode & Effects Analysis), but don't allow the company to get caught in an "analysis paralysis." When I consult with organizations on making choices about new products or markets, our primary emphasis is on risk versus reward. A large part of the the risk is determining whether being a pioneer on a new product or market carries a large enough reward to be a pioneer, rather than a follower. (For example, years ago, Beta was the pioneer and quality champion in videotape systems, but was overwhelmed by an inferior product (VHS)) There are reams of research on the reasons. Suffice to say, there are just as many examples where the first innovator was able to dominate the marketplace and discourage competition. Research questions should concentrate on the potential size of the market and the ability or probability of competition. (Is the product proprietary? Is the cost for a competitor to enter the market prohibitive? Is there a possibility or a regulatory or political change which would affect the product or the market? Can someone design/build a better/cheaper mousetrap and make yours obsolete? [no market for buggy whips in a culture using electric cars])
 

BoardGuy

Quite Involved in Discussions
#5
Just keep it simple. In our quality manual we address opportunity this way:

XZY Corp. uses it management processes to identify business and product technology development opportunities that could be implemented to sustain or improve the company.

[FONT=&quot]Note: Management may use a number of methods to identify opportunities such as brainstorming activities, stakeholder meetings, focus groups, continual improvement activities (see 8.5.1) or preventive actions (see 8.5.3).[/FONT]
 
Q

QAMTY

#6
Thanks to all

Boardguy

So the decision to take an opportunity, is it evaluated by traditional methods, maybe when is detected, it is used additional information , like the cost of the opportunity, the focus of the business, etc. ? but dont you use a tool like PXB? or how do you determine if you stop or continue?

On the other hand, for Risk, dont you use a tool in order to know the value of risks?
and according to such value, to decide what action to take?

Thanks
 

BoardGuy

Quite Involved in Discussions
#7
You must understand that were opportunity is listed (6.1), the standard has no defined requirements that must be met (a method, procedure or record). Business opportunities identification already exists within your organization or you would not have remained in business this long. Just because TC 176 added an ill-defined requirement should not change what you already do or add additional layers of documentation. Just explain what you are currently doing in this area in your quality manual and then perform an opportunity review as part of your management review meeting.
 

Mike S.

Happy to be Alive
Trusted Information Resource
#8
hello everybody

Does anybody know methods to use in order to decide if is worth to pursue an opportunity? (6.1 Actions to address risks and opportunities).
Unless you are a brand new business, just write down how you have decided whether or not to pursue an opportunity in the past. There is no ISO/AS requirement for HOW to do it.

Don;t create some new process just to satisfy an auditor if it brings you no increased value to do so. If you have a monkey throw a dart at a copy of Inc magazine and pursue the kind of business that the dart lands on, then write that down as how you do it.
 
Thread starter Similar threads Forum Replies Date
B GM GP-12 Exit Criteria - Additional Safe Launch Inspection - (Also see GM1927-28 ) Customer and Company Specific Requirements 2
B AS9100 8.4.1 Supplier Selection/Evaluation criteria and reevaluations AS9100, IAQG, NADCAP and Aerospace related Standards and Requirements 13
I Mother bobbin final inspection criteria Inspection, Prints (Drawings), Testing, Sampling and Related Topics 3
R Procedure, Frequency and Acceptance Criteria for Replicate, Recalibration, Before-After and Intermediate Checks ISO 17025 related Discussions 8
P Design FMEA - Detection Rating criteria ISO 14971 - Medical Device Risk Management 3
J Criteria Matrix To Initiate An A3 or 8D ISO 9000, ISO 9001, and ISO 9004 Quality Management Systems Standards 2
qualprod Best criteria to measure Corrective Action effectiveness - Poor Maintenance ISO 9000, ISO 9001, and ISO 9004 Quality Management Systems Standards 10
B ASTM F2924-14 /ASTM F3001 - Room temperature classification criteria Other US Medical Device Regulations 0
M Supplier selection criteria - Medical devices ISO 13485:2016 - Medical Device Quality Management Systems 3
qualprod Criteria to raise a Nonconformance based on KPI values ISO 9000, ISO 9001, and ISO 9004 Quality Management Systems Standards 39
M Criteria and when to carry out Setup Approval Manufacturing and Related Processes 5
V What is the criteria to cite an good documentation practices observation as an data integrity related issue US Food and Drug Administration (FDA) 6
S Acceptance criteria for gauges General Measurement Device and Calibration Topics 6
M Characterization Testing - NO acceptance criteria, no minimum performance requirement Inspection, Prints (Drawings), Testing, Sampling and Related Topics 1
J AIAG PPAP: 2.2.11.3 Acceptance Criteria for Initial Study (page 9, 4th edition) APQP and PPAP 1
C FDA on changing acceptance criteria re: analytical method validation US Food and Drug Administration (FDA) 1
Z UDI assignment Criteria Software IVDR Other Medical Device Regulations World-Wide 0
Ashok sunder What are the criteria for setting a target KPI value against a quality objective? Benchmarking 7
qualprod Criteria for print shop - How do you consider the cycle time in a print shop? Lean in Manufacturing and Service Industries 21
eule del ayre IATF 16949 / ISO 9001:2015 audit criteria IATF 16949 - Automotive Quality Systems Standard 17
GStough Auditing Against Criteria Unfamiliar to Auditee - Yea or Nay? General Auditing Discussions 11
M Internal Audit Assessment Criteria - ISO 13485:2016 Internal Auditing 21
S Agreement for allowance for visual criteria after submission APQP and PPAP 1
V Process and Internal Audit Criteria matrix wanted Internal Auditing 8
I Writing a Cosmetic Criteria for Switches Document Control Systems, Procedures, Forms and Templates 1
M Example ISO 14971 policy and risk criteria ISO 14971 - Medical Device Risk Management 0
D How to set equipment calibration/verification criteria General Measurement Device and Calibration Topics 1
A Operating criteria for production processes - ISO 14001 Cl. 8.1 ISO 14001:2015 Specific Discussions 3
B The most important criteria of IEC 60601-1 medical devices safety IEC 60601 - Medical Electrical Equipment Safety Standards Series 1
P Supplier (Vendor) Evaluation Criteria - IATF 16949 Cl. 8.4.1.2 IATF 16949 - Automotive Quality Systems Standard 1
H CER - Equivalent Medical Devices Criteria - MDR/MEDDEV REV 4 CE Marking (Conformité Européene) / CB Scheme 9
K Internal Audit Scope and Criteria Internal Auditing 9
K ISO 9001:2015 clause 9.2.2 a. - Define the audit criteria and scope Internal Auditing 2
V Periodic review criteria for reviewing/updating SOPs US Food and Drug Administration (FDA) 1
B IATF 16949 Cl. 8.6.6 - Acceptance Criteria - Zero Defects Attribute Data Sampling IATF 16949 - Automotive Quality Systems Standard 2
P Validation of Processes - What is meant by 7.5.6 (a) - Defined Criteria for Review ISO 13485:2016 - Medical Device Quality Management Systems 7
P Medical Device Validation Protocols and Reports - Acceptance Criteria Other Medical Device and Orthopedic Related Topics 3
V Selecting System Precision Criteria - System Suitability Gage R&R (GR&R) and MSA (Measurement Systems Analysis) 2
N ISO 13485:2016 - Supplier Selection Criteria ISO 13485:2016 - Medical Device Quality Management Systems 3
C Software Unit Acceptance Criteria (5.5.4) IEC 62304 - Medical Device Software Life Cycle Processes 3
J Acceptance Criteria in 8.1.1 e) of IATF 16949 IATF 16949 - Automotive Quality Systems Standard 2
O Acceptance criteria bacterial endotoxins immunosera for human use Manufacturing and Related Processes 3
W Supplier Selection Criteria Supplier Quality Assurance and other Supplier Issues 7
I As a part of validation, should i include the acceptance criteria of CPk index >1.33? Qualification and Validation (including 21 CFR Part 11) 4
Q Criteria for not rising NCR's in 8.3 of ISO 9001:2008 ISO 9000, ISO 9001, and ISO 9004 Quality Management Systems Standards 10
V Acceptance Criteria Gage R&R - Simple vs Complex Techniques Gage R&R (GR&R) and MSA (Measurement Systems Analysis) 8
E Supplier Evaluation Form - Example to evaluation suppliers (criteria) please Document Control Systems, Procedures, Forms and Templates 4
J Can ANSI Z1.4 sampling plan be used for sampling alone without the Acc/Rej criteria? Inspection, Prints (Drawings), Testing, Sampling and Related Topics 5
A Risk Acceptability Criteria - Probability and Acceptability Level ISO 14971 - Medical Device Risk Management 1
Q Can a fail still be a pass? (Criteria Level B for 61000-4-6 Conducted Immunity) IEC 60601 - Medical Electrical Equipment Safety Standards Series 3

Similar threads

Top Bottom