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Six Sigma Project Management Insights

The document outlines the performance expectations for Six Sigma belts and emphasizes the nonlinear power of leveraging these roles for change. It discusses the return on investment (ROI) for Six Sigma projects, particularly for small companies, and highlights the importance of tracking project financials. Additionally, it details the core responsibilities of a process owner and the documented financial benefits associated with Six Sigma initiatives.

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Hoàng Nguyễn Văn
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4 views8 pages

Six Sigma Project Management Insights

The document outlines the performance expectations for Six Sigma belts and emphasizes the nonlinear power of leveraging these roles for change. It discusses the return on investment (ROI) for Six Sigma projects, particularly for small companies, and highlights the importance of tracking project financials. Additionally, it details the core responsibilities of a process owner and the documented financial benefits associated with Six Sigma initiatives.

Uploaded by

Hoàng Nguyễn Văn
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Blended Training

Project Management
PROJECT APPLICATION

SUMMARY SLIDE - NOTES

© 2022 Dr. Mikel J. Harry, Ltd. - Prepared by: MICOMA Enterprises – 2022
Blended Training
Project Management
PROJECT APPLICATION

Performance Expectation for Each Six Sigma Belt

Power

Change

Leverage of “belts” generates nonlinear power to change.


© 2022 Dr. Mikel J. Harry, Ltd. - Prepared by: MICOMA Enterprises – 2022 1 Performance Expectations of a Six Sigma White Belt
Blended Training
Project Management
PROJECT APPLICATION

X-Belt Return on Investment

Return on investments for small companies (tool


included) 2 X-Belt Return on Investment
© 2022 Dr. Mikel J. Harry, Ltd. - Prepared by: MICOMA Enterprises – 2022
Blended Training
Project Management
PROJECT APPLICATION

Tracking and Reporting Project Financials

Financials Problem

Project
Input Output

Expenses Project Benefit

Categories
Track

© 2022 Dr. Mikel J. Harry, Ltd. - Prepared by: MICOMA Enterprises – 2022 3 Tracking and Reporting Project Financials
Blended Training
Project Management
PROJECT APPLICATION

Core Responsibilities of a Process Owner

Management

▪ Funded
▪ Barriers
▪ Redesign 1
1 2 3 4
▪ Supplier
▪ System Change
Project
▪ People

© 2022 Dr. Mikel J. Harry, Ltd. - Prepared by: MICOMA Enterprises – 2022 4 Core Responsibilities of a Process Owner
Blended Training
Project Management
PROJECT APPLICATION

Payback / Return on Investment (ROI)


⮚Estimated Vital Free
Y = f (X) OUGHT
CTQ Expected
Y
Goals
IS
Gains
Observed
Spec
Need
Growth
Opportunit
Baseline Improvement
y
Value Creation

⮚Immediate Savings
δ= Gap
Savings

GAPS prevent us from fulfilling NEEDS...


© 2022 Dr. Mikel J. Harry, Ltd. - Prepared by: MICOMA Enterprises – 2022 5 Return-on-Investment for a Six Sigma Project - Part A
Blended Training
Project Management
PROJECT APPLICATION

Payback / Return on Investment (ROI)


❑ Estimates
❑ Immediate
❑ Valid Gains

Categories
✔ Lab
✔ Material Track
✔ Overhead
✔ Warranty
✔ On-Time Delivery
✔ Cycle Time Improvement
✔ Capacity Increase
✔ Defect Reduction
✔ Volume (Sales) Increase
✔ Headcount

© 2022 Dr. Mikel J. Harry, Ltd. - Prepared by: MICOMA Enterprises – 2022 6 Return-on-Investment for a Six Sigma Project - Part B
Blended Training
Project Management
PROJECT APPLICATION

Benefits of Six Sigma Projects

RIDGEFIELD, CT - - (Market Wire – Feb 15, 2005) – A


recent iSixSigma Magazine benchmarking study found
that the median value of “hard” financial benefit of
using Black Belts ... is $188,000 (savings delivered by
project).

© 2022 Dr. Mikel J. Harry, Ltd. - Prepared by: MICOMA Enterprises – 2022 7 Documented Benefits of Six Sigma Projects

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