Can somebody please explain and discuss each of these factors that should be considered when selecting six sigma projects:
-Financial returns.
-Impacts on customer and organizational effectiveness.
-Probability of success.
-Impact on Employees.
-Fit to strategy and competitive advantage.
Expert Answer
Financial Returns:
Monetary gain or cost saving is the objective behind most of the six sigma / lean projects. The cost can be saved in many forms like elimination of waste, preventing the production of defective goods and reducing rework costs, reduction in human efforts, optimum utilization of resources and making the processes more effective and efficient. All such initiatives add to the cost
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