Economic Impact and Project Selection

Our Six Sigma Green Belt course includes a lesson on project selection.  Students are tasked to identify three or more potential improvement projects and make estimates of the cost to plan and execute the projects in dollars as well as the economic impact of completing the projects in dollars.   They then must explain which project […] read more

How Accurate and Reliable is Your Data?

Six Sigma is a process improvement methodology that uses facts and data to make decisions, not hunches and opinions.  It is obviously important that we use facts and data that are accurate and reliable.  The more important the decision and the more serious the consequences, the more care we need to take when collecting data. […] read more

Which Index is Representative of How the Stock Market is Really Performing?

In an earlier article in this series I discussed the use of sample data drawn from a larger population for the purposes of making decisions.  The data in the sample must be representative of the larger population in order for it to be useful in decision making.  Consider the stock market in general.   What is […] read more

To Transform Data, or Not to Transform, That is the Question!

In a previous article in this series I discussed whether or not to transform data that is non-normally distributed in order to make the data normally distributed.  In that article I stated the following: “Data that follow a distribution that is either not symmetric or that is symmetric but not bell shaped are said to […] read more

On March 17th, 2018, posted in: Project Management by