International Payment Systems
Brief Introduction about International Payments If you have shopped online on international portals or have received payments from abroad, you would have wondered about how the payments flow across the world and which banks and financial institutions underpin global commerce and trade. Further, if you work in a corporate that has global supply chains with […]
Six Sigma – Definition and its Origin
Six Sigma is a data-based methodology to improve performance by reducing variability. It requires thorough understanding of product and process knowledge and is completely driven by customer expectations. In other words, it is a methodology to achieve 3.4 defects per million opportunities. It can also be used to bring breakthrough improvements in the process. It […]
Focusing on Forecasting
Companies all around the world are focused on quarterly as well as annual results. As soon as these results are announced, the financial markets give some sort of reaction. If the results are good, the stock prices rise. If not, stock prices tend to fall. However, in either case, the stock price is linked to […]
HRIS: An Evaluation of its Cost and Benefits
Human Resource Information System (HRIS) often described as Human Resource Management System, in the present scenario can serve as a crucial tool in providing a competitive advantage to the organizations. It involves measurability, better management of data and information, equally provide scope for measurement of key HR practices and its outcomes on employee productivity as […]
Organizations Gain from Embracing Business Process Improvements
Business in present times is very challenging and dynamic. The nature of markets, life cycle of products and services as well as the Customers and their expectations have changed. So has competition. No business can survive this change unless and until they re-invent themselves and equip themselves to face competition. While some Organizations build their […]
A Project schedule is a document that contains vital information about the beginning and ending of the each of the five phases of the DMIAC Six Sigma methodology. The project schedule is an important document because it contains information about the project team, risks that have been identified and most importantly the approval status.
After each stage of the project that has been completed there is usually a meeting which focuses on the work done in that stage in the light of what was planned.
The project schedule contains information about the dates of these meetings and their agenda. Project schedules are often displayed graphically on the shop floors to remind the team members about the current status and what should have been achieved by then
Choosing an arbitrary project date can lead to the Project schedule not being followed and make the entire process meaningless. It is therefore important that the Project schedule be created by a senior person on the team like a Project Champion, a Project Lead or someone with a similar level of authority. Here is the information that they are usually required to consider:
Historical Six Sigma Information: In most cases, the project in question is usually not the first six sigma project being taken. Many similar projects have been undertaken in the past. The time taken while completion of these projects and the issues faced are usually documented. This information should be referred to before deciding the project schedule.
Constraints: A project team seldom has all the resources it needs. However many times resources are present with the parent organization and just need to be transferred to the project team. In such cases the time taken will generally be less. However in many cases, the organization has to acquire resources for the project team to execute. Not only are there usual bureaucratic hitches involved but also whether the organization is willing to spend the additional amount on the project. Time should be given for convincing the management.
Assumptions: Many times there are assumptions regarding the project requirements which may be unrealistic. For instance the project may require the services of a certain expert who obviously has other commitments to. Experts usually arrive at the project just at the time that they are required to. Expecting them to understand the project and start delivering immediately is incorrect. In many cases training is given to newer members to carry out six sigma project tasks. Expecting them to be well versed immediately after training without any hands-on experience is also an unrealistic expectation.
Risks: The risks assessment document provides a good estimate about the characteristic of setbacks that a project is likely to suffer. Hence this document must be carefully studied before arriving at a schedule.
The idea is to stretch the project team just beyond its capabilities. This will keep them on their toes. Giving them targets they can never meet is a demoralizer.
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