The basic purpose of CAR is to analyze all defects, problems and good practices/positive triggers in projects, perform a root cause analysis of the same, identify respective corrective and preventive actions and track these to closure. The advantage of CAR is that root causes are scientifically identified and their corrective and preventive actions are carried out. CAR needs to be performed at project initiation, all phase and project ends and on a monthly basis. Fishbone diagram is one of the ways you can do CAR.
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