Companys approach to Inventory Health
Inventory means an item of value and asset in the books of the Company. This is the most important category of item that needs to be focused upon by the management for in its management lies the business efficiency as well as profits. Inventory holding is a must for any business organization that is into […]
Benefits of Foreign Investment to Target Countries
Foreign Investment is more stable than fund inflows In recent years, “hot money” or speculative capital has flown into many developing countries leading to their stock markets becoming overvalued. Foreign direct investment on the other had is more stable because the foreign businesses setup physical infrastructure as well as due to the fact that many […]
How Emerging Markets Transformed Themselves Over the Last Few Decades
From Backwaters to Powerhouses At the start of the 1970s a widely held belief in the United States and in Europe was about how there were no markets outside of their regions. The implication was that the Third World countries were not worthy of foreign investment as they were steeped in backwardness, immersed in poverty, […]
Rational Approach to Project Management in Organizations
The evolution of organization theories from mechanistic to people based ones has influenced the approaches taken by managers in organizations towards the firm as well as organizing people. While the earlier decades of the 20th century witnessed the rise of the mechanistic of the rational approaches, since the 1970’s and particularly in the last decade […]
Is Dubai Really Tax Free ?
Expats want to flock to Dubai. Apart from the high quality of life, the foremost reason for such enthusiasm for Dubai is the fact that Dubai is a tax-free nation. There is no income tax on income generated in Dubai. Also, there is no sales tax on the majority of goods and services. Therefore, there […]
Six Sigma projects are meant to make the organization efficient. It is for this reason that one must ensure that the projects are efficient in themselves.
One of the main criteria for a project to be efficient is that it must have well defined goals. Only once the goals are defined with clear articulation can plans be laid out to achieve them. Six Sigma projects have guidelines on defining the objectives of the project.
There are three essential characteristics that the objective must possess. They are as follows:
There may be many places where there might be scope for improvement as well. However the organization has limited resources and needs to take only the most important projects first.
Which projects are important are defined by the strategy of the organization. Hence one must ensure that the six sigma project is aligned towards the strategy of the organization and is hence valuable.
It is critical that the team undertaking the six sigma project be able to clearly define what they intend to do in front of stakeholders like the people who actually implement the process. Hence the objectives must be defined in as simple terms as possible so that articulation is easy.
However, if you place the objectives of the project too far outside the limit of the organization, it is bound to fail. Failure in a six sigma project demoralizes the people who have been instrumental in implementing them. This jeopardizes the entire quality initiative. Make the objectives achievable at the start of the project to avoid turmoil at later stages.
The Five Step Procedure for Defining the Scope, Purpose and Value of a Six Sigma Project
The details regarding how to perform each step are provided in the subsequent articles to make your six sigma journey easier.
Your email address will not be published. Required fields are marked *
