Executive summary

This is a report of a targeted process analysis and improvement project for the Commercial Lending Process (CLP) in Bank of Golden Merchants (BGM). It has three phases that describe the Process analysis and improvements for the project. The first phase begins with the presentation of the bank and its Background which explains the objectives, Goals and scope of the bank. The second phase portrays the Process analysis including identification of process wastes, development of a register of issues in the current process, and their impact on the efficiency of the CLP. The last and final phase accompanies Process improvement including short and long term Improvements as well as their Qualitative and Quantitative Benefits. In addition to this last phase also describe the feasibility analysis of the improvements.

This report fundamentally concentrates on the improvement of Commercial lending process of Bank of Golden Merchants. According to According to Shaw (2009) if the commercial lending process is not managed properly it will create a more huge and laborious problem.

The main aim of this report is to find out the ways to contribute the Golden Merchants towards its Goals to lead BGM to be the financial institution of choice for commercial loans. This would require CLP core process for commercial loan service and products should be efficient, timely and must be customer focused.

Table of Contents

EXECUTIVE SUMMARY ……………………………………………………………………………………………………………………….. 3 1.0 INTRODUCTION ……………………………………………………………………………………………………………………………….. 6 1.1 PURPOSE ………………………………………………………………………………………………………………………………………………………. 6 2.0 BACKGROUND………………………………………………………………………………………………………………………………….. 7 2.1 APPROACH ……………………………………………………………………………………………………………………………………………………….. 7 2.2 GOALS AND OBJECTIVES ……………………………………………………………………………………………………………………………….. 8 3.0 PROCESS ANALYSIS ……………………………………………………………………………………………………………………….. 8 3.1 VALUE ADDED ANALYSIS ………………………………………………………………………………………………………………………………. 8 3.2 ROOT CAUSE ANALYSIS ……………………………………………………………………………………………………………………………….. 11 3.3 ISSUE REGISTER …………………………………………………………………………………………………………………………………………….. 14 3.4 PARETO ANALYSIS ………………………………………………………………………………………………………………………………………… 14 4.0 PROCESS IMPROVEMENT …………………………………………………………………………………………………………… 16 4.1 SHORT TERM IMPROVEMENT ………………………………………………………………………………………………………………………. 16 4.2 LONG TERM IMPROVEMENT ………………………………………………………………………………………………………………………… 20 4.3 IMPROVEMENT BENEFITS …………………………………………………………………………………………………………………………….. 30 4.4 FEASILBILTY ANALYSIS ……………………………………………………………………………………………………………………………….. 31 5.0 PROPOSED IMPLEMENTATION PLAN ……………………………………………………………………………………… 32 6.0 CONCLUSION ………………………………………………………………………………………………………………………………….. 33 REFERENCES ………………………………………………………………………………………………………………………………………… 34 APPENDIX A: 5 WHY ANALYSIS ………………………………………………………………………………………………………. 35 APPENDIX B: ISSUE REGISTER ………………………………………………………………………………………………………… 36

List of Figures

Figure 1: Loan processing length………………………………………………………………12

Figure 2: Complex loan length ………………………………………………………………12

Figure 3: Irregular data management…………………………………………………………..13

Figure 4: Pareto Chart………………………………………………………………………….15

Figure 5: Quality benefit……………………………………………………………………….30

Figure 6: Qualitative benefits…………………………………………………………………..30

Figure 7: DMAIC Roadmap …………………………………………………………………32

List of Tables

Table 1: Value Added Analysis…………………………………………………………..………9 Table 2: Sources of waste ……………………………………………………………………….11

Table 3: Issue Impact…………………………………………………………………….……..14

Table 4: Issue Grouping…………………………………………………………………………15

Table 5: Design Attributes ………………….…………………….……………………………17

Table 6: Results of Short Term Improvement………………………………………………….20 Table 7: Results of Long Term Improvement………………………………………………….29

Table 8: Six Sigma and Lean sigma Tools……………………………………………………..31

The bank of Golden Merchants (BGM) is a leading provider of both personal and business banking services with more than 200 branches across the nation, and prides itself on achieving some of the highest customer satisfaction rankings in the industry. The current commercial lending process (CLP) has been identified for analysis and improvement, due to instances of poor information quality, high process costs and a degree of work duplication, all of which are leading to customer taking their business elsewhere.
1.1 Purpose

This report will focus on the analysis of the current commercial lending process and based off the analysis, recommendations for improvement will be developed to make the current CLP a more efficient process. The analysis is the first step, which will include the identification of process waste, the development of the register issue for the current process and their impact on the efficiency of the CLP. The second step will be to provide both short and long term improvement proposals, which will assist senior management to implement changes. These proposals will show the quantified and qualified benefits, feasibility analysis and an updated process model demonstrating the recommendations implemented.

Senior management of BGM have identified instances of poor information quality, high process costs and a degree of work duplication, all of which contribute to making the CLP lengthy and inefficient. In report one, the governance framework was established which allowed the current commercial lending process to be modeled. Specifically, the framework allowed the value chain, collaboration diagram and other comprehensive process models to be developed, which have been utilized for the process analysis phase in in this report.

The scope of this report will be focused on the entire commercial lending process. The BPM team adopted the view that even the most efficient process, without the proper management can become an inefficient one. With that view in mind it was decided that total process redesign was the best scope to take, as the implementations of our recommendations would likely affect the entire process.

2.1 Approach

The approach that the BPM team will adopt when analyzing the process and developing recommendations will be ‘What is the minimum amount of work required in order to perform the process to the satisfaction of the customer, while fulfilling the goals and requirements associated to the business value added steps in the process? The answer to this question is a starting point for process redesign’ (Dumas, La Rosa, Mendling, &Reijers, 2013, p.176).

The table below identifies the techniques and method used to achieve the goals and objectives of this report:
Process Analysis Techniques
Value added analysis Root Cause Analysis
Waste Elimination Issue Register
Pareto Analysis
Process Improvement Techniques
Process measurement (time, quality, productivity) Six Sigma
Lean Sigma DMAIC Roadmap

2.2 Goals and Objectives

The Bank of Golden Merchants has a vision that the commercial lending process would be an efficient and timely process that provides value to both the customer and BGM. A redesigned CLP would allow BGM to be more competitive in the commercial lending market, improve customer satisfaction, increase market share, increase profits and reduce costs.

To accomplish this, following goals will need to be achieved:

Conduct a thorough analysis of the current situation
Identify the root-causes of the current issues
Identify the issues which have the greatest impact on the process
Short term recommendations for process improvement
Long term recommendations for process improvement
Both qualitative and quantitative analysis of the proposed improvements

The analysis conducted below will utilize a range of principles and techniques to identify what practices typically provide an extensive process analysis. The first step is to identify the unnecessary parts of process with the goal of making the process leaner and the possibility of eliminating or automating some process that add no value. Secondly, techniques will be used to identify and analyze parts of the process that create issues and negatively affect performance. Finally, with the above analysis completed, the issues will be able to be organized based on priority for the redesign efforts.
3.1 Value added Analysis

The value-added analysis stage consists of two stages: value classification and waste elimination.

The value classification identifies unnecessary steps with the aim of eliminating them. Every step in BGM’s commercial lending process has been classified into one of the three categories in table 1 below:

Value-adding (VA): Produces value or satisfaction to the customer Q: Is the customer willing to pay for this step?
Business value-adding (BVA): Necessary or useful for the business to run smoothly, or required due to the regulatory environment, e.g. checks, controls. Would the business potentially suffer in the long- term if this step was removed?
Non-value-adding (NVA): everything else including handovers, delays and reworks (Dumas, et al, 2013, p.185).

Task Performer Classification
Phase 1
Lodge Loan Application Customer BVA
Check Loan Value Business/Corporate/ branch banker BVA
Wait two days to book interview Lender/ Customer NVA
Interview Customer Lender VA
Loan Product Chosen Lender BVA
Customer file Validated Lender BVA
Customer File created Lender BVA
If over 5$ mil ‘Commercial Submission Checklist’ Lender BVA
Loan document created Lender VA
Loan doc forwarded to customer and Guarantor Lender NVA
Wait two days Lender/ Customer NVA
Loan doc returned Customer/ guarantor NVA
Loan doc checked for completeness Lender BVA
Customer called/ mailed if more info needed Lender BVA
Application Validated Lender BVA
Customer File Formalized Lender BVA
Customer File/ Application forwarded to Risk Assessment Team
Phase 2
Application reviewed Risk Assessment staff BVA
Credit checks BVA
Risk assessment profile BVA
Customer Reference reports RCS Data intelligence BVA
Company and title search RCS Data intelligence BVA
Assessment team review risk Risk assessment staff BVA
Complete risk assessment Risk assessment staff BVA
Advise lender of risk outcome Risk assessment staff/ lender BVA
Notify customer of risk outcome (mail or relationship) lender VA
Wait two days (advise outcome of risk 1 day, Customer responds by mail to accept or reject) 1 day Lender, Customer NVA
Customer accepts or rejects loan Customer VA
Legal docs created Lender VA
Application fee collected Lender BVA
Create online customer file Lender NVA
Loan file posted to loan center Lender NVA
Loan file walked to loan Centre (Motion) Lender NVA
Phase 3
Loan Centre collects files Loan Centre staff NVA
Generate customer docs (manual process, no quality Loan centre staff VA
control)
Loan docs sent back to lender (up to 5 days) Customer NVA
Documents verified Lender BVA
Documents forwarded to customer Lender NVA
Documents signed by customer Customer VA
Customer forwards back to lender Customer NVA
Loan documented checked again for accuracy Lender BVA
Settlement booked Lender VA
Loan docs forwarded back to loan centre Lender NVA
Pre settlement checks Loan Centre BVA
Lender advises solicitor of settlement Loan Centre VA
Settlement date booked Loan Centre BVA
Settlement instructions created Loan Centre VA
Loan account created Loan Centre VA
Settlement notice posted to lender Loan Centre NVA
Customer letters prepared Loan Centre VA
Waits four days Loan Centre NVA
Completes post settlement checks Loan Centre BVA
Post settlement letter sent to customer and lender Loan Centre VA
Post settlement checks Lender BVA
Finalize lending file Lender BVA
Loan stamping LC VA
Prepares loan registration details LC BVA
Lodges mortgage with government titles office LC BVA
End

Table 1: Value Added Analysis

Due to the regulatory environment within the banking industry and the strict adherence to policy and procedure there are required to be a number of checks throughout the CLP. These checks are critical to minimising BGM’s financial risk when granting a commercial loan. Table 1 above identifies that the CLP has 15 processes that are considered to add no value to the process, which are classified as waste.

There are eight common sources of waste as outlined below in table 2.To ensure a lean and efficient process steps consider NVA should be minimized or eliminated. As identified above the most common sources of waste in the CLP are motion, waiting and transportation. As mentioned above the BVA processes are crucial to minimizing BGM’s financial risk, however all efforts will be made where possible to improve the process.

Eight Sources of Waste
1) Overproduction: unnecessary cases
2) Inventory: large work-in-progress
3) Motion: unnecessary movements by actors
4) Waiting: waiting time between tasks
5) Transportation: unnecessary movements of products & materials
6) Over-processing: performing what is not yet needed or might not be needed
7) Defects/Rework: perform the work again to fix defects
8) Resource underutilisation: idle and underutilised resources

(“8 Wastes,iSixSigma,” 2013)

Table 2: Sources of Waste
3.2 Root Cause Analysis

Root cause analysis techniques allow us to understand the factors behind a given issue Dumas, et al, 2013, p. 199). The main issues that have a direct impact on business performance have been identified below in the issue register. However the three issues that the root cause analysis will focus on are:

The overall consumer lending process takes too long (30.9 days)
Complex Loan Application taking up to 3 months
Irregular data management

The selected method of analysis is the Cause Effect diagram (fishbone), because it is useful in situations in which little quantitative data is available for analysis (ISixSigma, 2013.). However, the 5 WHY technique will be used as a quick and simple analysis, to further assist to discover the root cause for issue one above (see Appendix A).

The situation overview identifies that one of the major issue is that the current CLP is too long and is causing customers to seek alternative finance. The 5 WHY analysis (Appendix A) outlines that the quality control issue (rework), numerous handoffs, BGM intranet site issues, work duplication and IT infrastructure all combine to be the major causes of why the process takes so long.

Fishbone diagram 1 depicts the effect “Loan processing length” and the corresponding causes which creates this effect. There are around five causes identified, which are “Non-compatible IT infrastructure”, “Physical documentation transportation”, “Time consuming tasks”, and causes created by employees and customers. The underlying reasons for these causes are also analysed and depicted in the diagram.

Figure 1- Loan Processing Length

Fishbone diagram 2 depicts the effect “Complex loan process taking 3 months” and the corresponding causes which creates this effect. Four causes are identified which are the causes created by IT system, documents that are required for the loan process and finally the customers and employees who are responsible for this effect to happen. The reasons for these causes to happen are also analysed and depicted in the diagram.

Figure 2- Complex Loan Length

Fishbone diagram 3 depicts the effect “Irregular data management” and the corresponding causes which creates this effect. Three causes are identified which are “Physical file processing”,

“Decentralised IT systems” and “Data duplication”. The reasons for which these causes are created are also analysed and depicted in the diagram.

Figure 3- Irregular Data Management

3.3 Issue Register

The purpose of the issue register (see Appendix B) is to determine how and to what extent each issue is impacting on the performance process. The below issue register will allow the impact of the issue to be described in both quantitative and qualitative terms. Quantitative analyses the issue in terms of time or money lost, while qualitative analyses the issue in terms of perceived risk or nuisance to the customer (Dumas, La Rosa, Mendling, &Reijers, 2013, p.198).
3.4 Pareto Analysis

The Pareto analysis suggests it’s possible for 20% of the issues identified in the issue register to be responsible for 80% of the effect. Specifically the Pareto analysis is used to identify which issues or which casual factors of an issue should be given priority in the redesign efforts.

So in this analysis, the problems are listed out in the first table and the score is given according to the severity of the problem. Then, the problems are grouped according to their nature of appearance in the second table. With the values of the second table, Pareto chart is developed which shows the impacts of all the problems faced. This will help to figure out the problem which creates most impact on the process and which needs to be attended on first priority. This technique also helps to find problems, which are caused by same reason so that finding a solution to one will solve the other, respectively.

The Pareto chart below (Figure 4) demonstrates that time consuming tasks and a de-centralized IT system should be the priority for process redesign efforts.
NO PROBLEM CAUSE SCORE
1 Loan process taking a long time. Time consuming tasks throughout the application process in each and every phase. 15
2 Complex loan applications taking 3 months to complete the first phase.

Verification of documents by employees and application document completion by customers takes time. 18
3 Time consumption on

transportation of documents

Physical documents keep moving between Loan centre, BGM and the customer during various phases. 10
4 Non-compatible IT infrastructure so data has to be managed twice for two systems. Decentralised IT systems

20
5 Capital lost on rejected loan requests which incur time and cost put on the processing of it. Not finalising the mandatory requirements at beginning of the process. 5
6 Policy and procedural changes in the system leads to wrong choosing of loan products. Employees not aware of the changes.

7
7 Inefficient tracking of the loan application throughout the process. Physical documents is processed half the process and rest is carried out in the IT system. 12

Table 3: Issue Impact

ç GROUP DESCRIPTION PROBLEMS INCLUDED TOTAL SCORE
1 De-centralized IT systems Problems 4 and 7 32
2 Time consuming tasks Problems 1 and 2 33
3 Transportation of documents Problem 3 10
4 Cost and time applied on rejected documents Problem 5 5
5 Training of employees Problem 6 7

Table 4: Issue Grouping

Figure 4: Pareto Chart

The major aspect of improving a process is to do the measurements of the process. Measurement of the process will give you a control access on the process. Both these principles are very important for those organizations who want to endlessly improve their business process in an accurate manner.

It involves three types:

Quality: It includes dimensioning a process according to the qualitative characteristics.

Decomposition of the CLP process can be an example.

Time: To measure the process in terms of speed, performance, cycles comes under this way. Cycle Time of CLP can be the example.
Productivity: The outcome of the process is the productivity of measuring a process. To illustrate, the loan is approved.

4.1 Short Term improvement:

Situation: The Current CLP process takes long time to process all the application documentation phase. As the average loan application takes 13.9 days to process and depends on the amount of loan, if it is over $5 million, it may take up to 3 months, which is very large and this leads to lack of customer’s interest. Giving observation to all the necessities, for next 3-6 months, the bank will improve the application documentation phase for both complex and simple loans.

Analytical Issue: 12 % of the total loan applications are withdrawn by the customers.

Categories of Disconnects:

Redundancy in efforts.
Lot of paper work.
Unimportant steps.
Delay in cycle time
Automation Chances.

Design Attributes

Elements

Attributes
Inputs Processing ? Online application lodgment.

? Online verification of customer.
? Customer file validated and created.
? Loan document created.
Outputs: ? Checked for completeness
? Application validated
? Customer File formalized.
? Forwarded to Risk assessment phase.
? The bank will hire special more experienced staff which will handle the complex loan applications over $5 million and the whole application procedure will be handled under business banking and corporate banking but due to more staff working on multiple applications, this can be performed in 30 days period instead of 3 months.

Table 5: Design Attributes

Short Term Improvement Diagrams:

CLP Current Version:

18

Improved Version:

19

Results:
Measure Results
Processing Steps 45% complexity is reduced from 22 steps to 12
Manual processes Reduced by 80%
Application lodgment problems 80% reduced (online) and with more staff handling complex applications.
Customer Interview Process 80% reduced with online verification
Human Errors 15% human errors are reduced

Table 6: Results of Short Term Improvement
4.2 Long Term Improvement:

Situation: The Current CLP process takes long time to process all the phases. The whole process takes 30.9 days to complete, which is very large and includes lot of manual work. Digitizing all the work with centralized IT system will help to get rid of all these time issues although some paper work like getting signature from the customer cannot be ignored if they don’t want digital signatures.

Analytical Issue: Decentralized IT system and Physical file processing.

Categories of Disconnects:

Processing the files physically.
Data duplication due to human errors.
BBS and loan centre have different IT system.
Irregularity in managing the data.

20

Long Term Improvement Diagrams:

Current Situation Part 1:

Improved Part 1:

Current Situation Part 2:

Improved Version Part 2:

Current Situation Part 3:

Improved VersionPart3:

Current Situation Part 4:

Improved Version Part 4:

Current Situation Part 5:

Improved Version Part 5:

In the above diagrams of Long Term Improvement Process, the highlighted boxes with red color and NVA and are completely removed from the improved diagrams.

Results:
Measure Results
Processing Steps 66% complexity is reduced from 87 steps to 58
Manual processes Reduced by 90%
Human Errors 15% human errors are reduced
Centralized IT

System
90% of the work is done by Centralized IT system
Duplicated Data 100% Removed with the help of computer system.

Table 7: Results of Long Term Improvements

Recommendations:

Enhancements: IT infrastructure is used, so all the work is automated instead of manually doing the things which helps to reduce the cycle time. Although some of the paper work is still there, but a lot is improved with centralized IT system. The main idea of enhancing the process is to increase the demand of BGM and to increase their production and marketing.
Derivation: Elimination of repeated work. A lot of duplication with human errors, some times staff members can do that also. With the use of above enhancement, some constraints on data types can be applied which will not let the same client to add once again, so addition of basic details again and again will be completely ignored with the use of DBMS.
Utilization: Transfer of documents between customer, Loan centre and BGM. It will become easy to transfer documents to customers and from customers. Cloud system can be used which will update everything automatically when it will change at one place.
Design: Redesigning the loan application phase and centralized IT system. In short term the loan application phase is taking lot of time which delays the whole process, so basically the main focus is on that respective phase, so that customers can gain help from the Bank and they don’t disappoint.

29

4.3 Improvement Benefits

Figure 5: Quality Benefits

Figure 6: Quantitative Benefits

4.4 Feasibility Analysis

As mentioned in the earlier parts of the reports there are various process improvement approaches for the BGM bank. One of the most common among them is Six Sigma. For feasibility analysis, we will highlight the essential ideas driving Six Sigma. As we examined prior, we need to diminish variation and enhance quality to improve our project. Six Sigma gives a technique to getting to the underlying driver of variation and decreasing it.

Six Sigma is an achievement approach that can be applied to BGM with a few modifications. It concentrates on enhancing customer’s loyalty, lessening cycle duration, and reducing deformities (Pande and Holpe, 2002). In this case study, the main issues that need improvement are:-

The information gathering cycle is too long.
The great deal of time to complete the overall consumer lending process i.e. 30.9 days.
Redundancy in work.
Lack of IT infrastructure.

This case study investigated some different approaches that can be connected to a consumer lending process. It leads to the result that lean sigma approach is feasible. The Lean Six Sigma methodology is a blend of Six Sigma and Lean Manufacturing. Lean Manufacturing (LN) makes quicker process duration, lessening variability, eliminating waste by being productive and running a smooth and aggressive operation. So Lean Six Sigma consolidates a straightforward use of Six Sigma with Lean Manufacturing standards, for example, short process duration and end of waste.
Sig Sigma Tools Lean Sigma tools
DMAIC Process Process maps
Pareto Analysis Eliminating waste
Statistical Analysis Value stream mapping
Hyper geometric distributions Spaghetti diagrams
Analysis of variance Time studies
Brainstorming Kaizen events

(Razaki & Aydin, 2011, p. 26) Table7: Six sigma and Lean sigma Tools

In order to use the lean six sigma approach, the DMAIC and Pareto analysis are chosen from six sigma and eliminating waste and Kaizen events are chosen from lean sigma.

DMAIC Roadmap

ü Identification

of the

customer

ü Determine the
ü Collect data

that affects

improveme

nts

ü Measure to determine current performanc e and quantify the problem

ü Detailed process map and appropriate areas

ü Create Fishbone

i.e. tie to define defect.
ü Analyze the commercial lending process flow

ü Analyze the

critical path

ü Analyze the value added steps and non-value

added steps

ü Measureme

nts are used to perform Pareto analysis

ü Conduct Root cause analysis
ü Improve the process by eliminating

defects

ü Develop

solutions options

ü The root cause analysis detected by Pareto analysis are either fixed or solutions are proposed

ü Define measurement system for improved

process

ü Implement improvements
ü Enhanced

procedures are Standardized and performed

ü Control future process improvements

ü Develop IT

infrastructure to control the time taken for paper work

ü Update problem solving repository

ü Develop and implement a control plan of a commercial lending process

time to .

complete the overall lending process

ü Define the problem

statement

ü Define the defect

ü Define defect measure

ü Understand which part of process to be impro ved and set a goal

Figure 7: DMAIC Roadmap

Appropriate analysis techniques (and analytical tools, if needed) should be applied to gain indepth observation and findings.

How the techniques and tools being applied should be clearly explained and the results should be interpreted and integrated into the discussions appropriately.

The process performance should be measured in different dimensions and justified. The set of performance metrics used in the report should be clearly defined.

The issues identified should be consolidated in a well-structured issue register. Both qualitative and quantitative impact assessment of the issues should be discussed. Analysis of process waste, root-causes of issues and issues priority should be conducted using appropriate analytical techniques (and tools, if needed).

Under the light of all the aspects the Bank of Golden Merchants is one of the best Bank which deals personal and business banking services all over the nation. The bank has emphatically centered on client benefits by giving those best banking services and quick client administrations. Also, resources structure the fundamental component for any association and subsequently accessibility of sufficient assets decides the accomplishment of the association. According to Henczel (2001) Assessing the resources and picking those that are the most proper has turn into a key obligation regarding the information professionals and will affect on how successfully and proficiently the authoritative objectives and goals are attained. The only problems they are facing by the bank is consuming much time in baking documents, duplication of work, lack of IT infrastructure and the time taken to complete the overall CLP process. These problems can be reduced if they follow the approaches like Six sigma and lean sigma and also implement the plans like short term improvement and long term improvements.. Furthermore using these approaches Co-ordination will be increased among the bank and the customers. This would increase their clients as well as their business. On the other hand, the improvement plans and the feasibility analysis of CLP provide a consistent and more detailed view of the CLP and its environment as compared to its presence in the process architecture. Hence, keeping the above given elements in concern, the bank can exploit its qualities and overcome from its shortcomings. At last, by making this report we learn a lot of things like effective decision making, working in a team as an organized way, managing the time while doing a business project and many more. To summarize, this report helps us to develop time management skills, decision making and team skills.

8 Wastes of LeaniSixSigma. (2013) Retrieved from http://www.isixsigma.com/dictionary/8wastes–of–lean/

Bisson, B., Folk, V. and Smith, M.E. (2000). Case study: How to do a business process improvement. Quality and Participation, 23 (1), pp. 58-63.

Dumas, M., La Rosa, M., Mendling, J., &Reijers, H. A. (2013).Fundamentals of business process management. Berlin: Springer.

Henczel, S. (2001). The information audit: A practical guide. Munchen: Saur. Retrieved from http://site.ebrary.com/lib/qut/reader.action?docID=10776732

Pande, P. & Holpp, L. (2002). What is Six Sigma? McGraw-Hill

Razaki, K. A., & Aydin, S. (2011). The Feasibility of Using Business Process Improvement Approaches to Improve an Academic Department. Journal of Higher Education Theory and Practice, 11(2), 19-32. Retrieved from http://www.nabusinesspress.com/JHETP/RazakiWeb.pdf

Shaw, B. (2009). VIEWPOINT: Commercial lending needs a new process. American Banker, 174(F313), 8. Retrieved from http://search.proquest.com.ezp01.library.qut.edu.au

The Cause and Eff