Perils and Consequences of Information Overload and Drowning in a Sea of Information
What is Information Overload ? We are drowning in a sea of information. We are inundated with news, views, opinions, facts, and information every time we log in to the internet or turn on the TV. This constant barrage of information thrown at us nonstop in a 24/7 cycle makes us weary and lost in […]
Quality Frameworks and their role in Competitive Advantage
Adoption of quality frameworks like Six Sigma, ISO 9000 and Baldridge has ensured that companies derive a source of competitive advantage in the way in which they produce superior products with minimal loss of quality. Though these frameworks have been adopted in the manufacturing sector much earlier, the services sector has not lagged behind in […]
What is Hypothesis Testing ?
What is Hypothesis Testing ? Hypothesis testing is one of the statistical method used to confirm the effect that critical few inputs have on the outputs. Hypothesis testing must be used when the inputs are measured discretely. The outputs may be discrete or continuous. However the inputs must be discrete, if the inputs are continuous […]
Asset Management and Budgetary Control
One of the major financial functions is the management of fixed assets. Asset management module primarily maintains asset register, which provides information about asset related transactions. Asset Management thus helps in keeping track of fixed assets, handling fixed asset depreciation for fiscal reporting and revaluation of asset. Budgetary control (BC) module is another important finance […]
ERISA Act – The Government Mandated Stock Market Crash
America is sitting on a demographic time bomb. Their economy boomed thanks to the “baby boomers” that brought prosperity to the nation. However, they have got old and now is the time for them to retire and be replaced by a younger generation. The problem is that the number of people retiring is far more […]
Closing a Six Sigma project is an elaborate exercise. One of the biggest parts of this exercise is the explicit documentation of the project. However given its importance to the projects that maybe executed at a later date, its importance is unquestionable. Here is a checklist of the activities that need to be performed while formally closing a six sigma project.
The most obvious thing to do while closing a Six Sigma project is to ensure that the objectives that were the cause of the project in the first place have been adequately met. The fact that there are numerous stakeholders with varying objectives, ending the project requires getting sign-off documents from all these stakeholders.
For each sign-off, the objectives set up in the Project Charter are reviewed. The achievements of the project team are then viewed in the light of these objectives and a decision is reached upon whether the Six Sigma project has been a success. However, since the objectives have tangible numbers, there is very less scope for politicising and ambiguity.
Six Sigma projects are meant to build process capability. Hence, it is the job of the Six Sigma team to ensure that the results obtained are standardized. This entails ensuring that the results are not dependant on the skill, knowledge or expertise of any workers or managers involved and can work independently of it.
As we have discussed earlier, no process is error proof. No matter how well designed the process, there is always a probability that things can go wrong. It is the job of the Six Sigma team to list down such scenarios where things can actually go wrong and work towards preventing them from happening in real life.
The plans should be documented along with discussing it with the process owner. There must be experts appointed to solve every type of possible problem that the Six Sigma team can foresee.
Every Six Sigma project executed brings with itself a wealth of knowledge. This knowledge may pertain to application of Six Sigma methodology, team building or more knowledge about the process in question.
This knowledge needs to be explicitly documented and stored in the knowledge repository of the organization for re-use.
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Step 3B: Choosing the Correct Control Chart (Continuous Data)
February 12, 2025
