The root cause analysis process is also known as the “Ishikawa Diagram”. The Fishbone diagram helps us to identify the basic causes or all other potential effects in a prospective approach.
It is identified in 5 key areas:
We generally dig into the above five areas and identify the root cause.
This is the below example of Fishbone diagram.
Cause and Effect diagram with initial level of Detail:
There are 3 factors:
1)Decision analysis: Making decisions during the uncertain, complex and difficult situations to root out the dilemma avoiding unknown factors is termed as Decision analysis.
2.1) Financial Factors: It depends on the Current situation of Organization in the market space, overall profit margins in previous quarters and years, Breakeven of resources in the organization the net asset value bonds.
2.2) Non- Financial Factors.
The incomplete , informal and uncertain information about processes, the availability of the different options affecting the progress of current process.