PDCA - plan–do–check–act or plan–do–check–adjust

PDCA - plan–do–check–act or plan–do–check–adjust

is an iterative four-step management method used in business for the control and continuous improvement of processes and products. It is also known as the Deming circle/cycle/wheel, Shewhart cycle, control circle/cycle, or plan–do–study–act (PDSA). Another version of this PDCA cycle is OPDCA. The added "O" stands for observation or as some versions say "Grasp the current condition." This emphasis on observation and current condition has currency with Lean manufacturing/Toyota Production System literature.[1]

http://en.wikipedia.org/wiki/PDCA