SAN JOSE, Calif.--(BUSINESS WIRE)--Realization, a premium provider of project management reengineering services and software, is helping establish the Dr. Eliyahu M. Goldratt Foundation in honor of Dr. Goldratt, who passed away on June 11, 2011 at his home in Israel. This Foundation will operate under the auspices of the Theory of Constraints International Certification Organization (TOCICO), and award fellowships in the amount of $10,000 to $30,000 to support applied research on Dr. Goldratt's Theory of Constraints as it pertains to managing organizations.
Dr. Goldratt developed the Theory of Constraints (ToC), a groundbreaking methodology that he introduced in his 1984 bestselling novel, The Goal. His work has had a profound impact on a wide array of private and public organizations worldwide, enabling them to more fully realize their potential by increasing their throughput and efficiency.
Sanjeev Gupta, CEO of Realization, was introduced to Dr. Goldratt’s ideas by reading The Goal, and successfully applied its ideas two decades ago to turn around a factory within Xerox. He first started Thru-Put Technologies to bring that solution to other manufacturers. Realization was later founded to bring to market the project management solution of TOC, which Dr Goldratt outlined in his 1997 book, Critical Chain. Since then, hundreds of organizations in sectors such as aerospace and defense, engineer-to-order manufacturing, energy, pharmaceutical product development, high tech, and IT systems development have achieved unprecedented results by replacing traditional project management with Dr. Goldratt's TOC-based methodology.
“We cannot overstate the impact of Dr. Goldratt on thousands of managers all over the world,” Gupta said. “He transformed how we manage manufacturing, projects, and the supply chain, and thanks to his work, thousands of organizations including the U.S. Military, Boeing and Tata Steel have tapped into billions of dollars of previously unrealized value. Eli was an iconoclast who gave us a new foundation.”
Realization helps organizations fix projects by fixing project management. Using its patented critical chain technology, customers such as ABB, Boeing, and the U.S. Air Force take their projects to completion fast and efficiently even in the face of uncertainties, thus saving time and money. In the last ten years, more than 250 companies have realized more than $3 billion in hard savings by completing more projects faster with limited resources. Realization is headquartered in San Jose, Calif., with additional offices in India, France and South Africa. For more information, visit www.realization.com.