August 2, 2023 | Mark Paradies

Investment in Root Cause Analysis

Investment or Cost

$100 Dollar Billes Saved

What is the difference between an investment and a cost?

Mike Harden, a contributor to the Huffington Post, says the difference between an investment and an expense (cost) is simple:

“One starts paying you back, and the other is a drain on your resources.”

So here is the question…

“Is getting the best root cause analysis training an investment or a cost?”

The Answer

To answer the question of whether root cause analysis training is an investment of a cost, you need to answer one simple question:

“Does root cause analysis training start paying you back?”

Of course, the answer depends on the type of training you select. If you select TapRooT® Root Cause Analysis Training, the answer is “Yes!”

How can you be sure of that?

First, read the TapRooT® User success stories at THIS LINK.

Here is a quick summary of the return on the investment from some of the success stories:

  • In just two years, $40 million in reduced costs due to solving problems using TapRooT® RCA.
  • In three years, annual savings in worker’s comp costs of $1 million.
  • A reduction in the Total Recordable Incident Rate of 79% in three years.
  • A reduction in the Lost Time Injury Rate of 71% in three years.
  • An elimination of fatalities from an average of 2.5 fatalities per year.
  • Cut the injury rate in half in two years.
  • Cut the Recordable Injury Rate by 98% in six years and eliminated lost day injuries.
  • Eliminating blame from incident investigations (a different kind of return on investment).

What do you think? When they implemented TapRooT® Root Cause Analysis was it an investment or a cost? You be the judge.

Here’s another viewpoint of what you might get from an investment in TapRooT® Root Cause Analysis…

Second, our training comes with a guarantee:

Attend this course, go back to work, and use what you have learned to analyze
accidents, incidents, near-misses, equipment failures, operating issues, or
quality problems. If you don’t find root causes that you previously would have
overlooked and if you and your management don’t agree that the corrective
actions that you recommend are much more effective, just return your
course materials and we will refund the entire course fee.

That simple guarantee helps assure you that you are making a valuable investment.

Types of Investments in Root Cause Analysis Skills

The simpliest investment in root cause analysis skills is to send your investigators to one of our public TapRooT® Root Cause Analysis Courses. CLICK HERE for the complete list of in-person and virtual course dates and locations.

Next, you can schedule training at your site. CLICK HERE to review the different types of courses to choose from and then CLICK HERE for a quote.

To develop a complete plan (a raodmap to success) for your TapRooT® Root Cause Analysis, call one of our TapRooT® Implementation Advisors at 865-539-2139. The will be happy to set up an executive briefing, a software demo, and then help you develop your TapRooT® Roadmap to Success.

TapRooT® Implementation Advisors

Finally, to make an investment in the continuous improvement of your TapRooT® Skills, attend a pre-Summit Course and the Global TapRooT® Summit. For more information about the Summit, CLICK HERE.

Summit Breakout Session
Summit Breakout Session

Here are some samples of what people have to say about the Summit so you can judge whether it is a cost or an investment…

Pat, Suncor: “Fantastic speakers and sessions. I’m taking a lot of tools back to improve performance.”

Rich, PPL Electric Utilities: “Well organized. This was my first Summit and from the start to the end was a great experience and great networking.”

Teresa, Irving Oil: “The Summit was fun! There were wonderful speakers. I have a lot of good information to take back to my workplace.”

Jeff, Halliburton: “It’s like a family reunion except you meet root cause experts from around the world.”

Dave, Marathon: “Very Valuable. Well-organized multiple breakout sessions with good practices and even some things not to do.

Jeff, First Energy: “This is my second Summit in a row and each time I come, I learn new, valuable things to take back to work and apply,”

So don’t wait. INVEST in improvement by learning more about TapRooT® Root Cause Analysis.

Implementation, Root Cause Analysis, Root Cause Analysis Tips
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