"You are only as good as your weakest link." What do you think? How can we effectively use that?

If you have a production line your production rate will be the same as the rate of the weakest stage in your production line and so if you want to raise up your production rate you must focus of this stage

agreed with all professionals here.

Yes because only a person knows perfectly his weakest and strongest points

i believe that is a true statement,one of the weakest links people have is working under pressure.

every human,every process,every machine has a weak link and strong ones.

strong links rarely fail.but if another link fails then the whole process will stop.

so we always work hard on strengthining our weaknesses.the stronger they become the better the process or system will perform.

the japanese pioneered this field by introducing solution and accepting that weaknesses must be turned into strength.

KAIZIN is an example (continuos process improvement).

that is why we must understand our weaknesses and work on improving them.

That is true, the power of string is measured by the weakest ring in it. The concept of quality is how to avoid the weak points through the SWOT analysis.

I am proud of all these answers. It is correct that the concept of weakness comes from the weakest area.The prophet Muhammad Peace Be Upon Him was walking in a group as fast as the weakest person of the tribe.

This quote has two factions; focusing on your strengths but also addressing your weaknesses to go forward. For example; if we consider a candidate who is applying for a job with great technical skills but no people skills. People skills would be the weakest link so his/her goal would be to improve his people skills to make himself/herself a stronger candidate. This applies to teams (and organizations) as well (and not only individuals) for instance a sport team may have3 good runners but a slow4th runner. The4th runner is the team weakest link and may cause the team to lose the race if not improved

by knowing that you can strongest that area so make compatable system.

Think of that quote in terms of a relay race. You may have3 good runners but the4th is slow. That4th runner is your weakest link and may cause you to lose the race. 

Our goal is to improve our weakest link to make the situation stronger.

This is very contextual and does not necessarily apply to ERP project management where the team should always be greater than the sum of its individuals. We have long seen weaker soccer teams (on paper) outdo teams with better individuals because in a team you learn to leverage on everyone's forte and as a team overcome everyone's weaknesses.

As a Project Manager, it should be always your challenge to ensure that what you look at is a team and not a set of individuals independantly.

normally the value includes of several links.

(Assessment)

1.which link of the chain suffers weakness.

2. why this link is weak and how to improve it

(Planning)

3. corrective action plan development

(implementation and feedback)

4. corrective plan was done

5. the result was .....