Triage

AAA

DEFINITION of 'Triage'

A process-management term predominantly seen in hospital and healthcare settings that can also apply to different types of business process or workflow situations. Triage refers to the practice of dividing incoming work or customers into different levels of priority so that the highest-priority issues are handled first, while lower-priority issues are stationed lower on the to-do list.

INVESTOPEDIA EXPLAINS 'Triage'

In a business setting, the concept of triage can be used to prioritize different types of work for various types of business units. In an IT department, for example, IT issues can be categorized as either emergency problems, medium-priority issues or low-priority issues. Emergency issues would command department members' attention as soon as they arrive, while medium-priority problems would be the first tasks undertaken once there were no emergency problems. Once there were no medium-priority problems, low-priority tasks would be undertaken.

RELATED TERMS
  1. Economies Of Scale

    The cost advantage that arises with increased output of a product. ...
  2. Scalability

    A characteristic of a system, model or function that describes ...
  3. Diseconomies Of Scale

    An economic concept referring to a situation in which economies ...
  4. Business

    1. An organization or enterprising entity engaged in commercial, ...
  5. Business Model

    The plan implemented by a company to generate revenue and make ...
  6. Back Of The Napkin Business Model

    A slang term that refers to the representation of the basic components ...
Related Articles
  1. Top 7 Estate Planning Mistakes
    Retirement

    Top 7 Estate Planning Mistakes

  2. The Beauty Of Budgeting
    Budgeting

    The Beauty Of Budgeting

  3. Getting To Know Business Models
    Entrepreneurship

    Getting To Know Business Models

  4. Having A Plan: The Basis Of Success
    Options & Futures

    Having A Plan: The Basis Of Success

comments powered by Disqus
Hot Definitions
  1. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  2. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  3. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  4. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  5. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
  6. Over The Counter

    A security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, etc. The phrase "over-the-counter" ...
Trading Center