Industrials

<p style="text-align: justify;">Project management is key to using PDP (Project Development Plan) or PLM as a tool to ensure projects are real-time projects and can get the phase-wise/gate-wise approval process which systematically helps an organization to smooth the entire project management.</p><p style="text-align: justify;"><br />In addition to this, the Lean Six Sigma tools are used to improve speed, i.e., efficiency, accuracy, and consistency to the entire production process, including the whole value stream map.&nbsp;</p><p style="text-align: justify;"><br />Tools such as Waste identification, Value Stream Map, Lean Radar, Multi-vari analysis, C&amp;E Matrix, etc., can be used to ensure the entire operations excellence journey has an end-to-end solution that directly or indirectly generates profitability for the organization, including its culture.</p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;"><span style="font-size: 10pt;"><em>This article was contributed by our expert <a href="https://www.linkedin.com/in/chirag-mehta-73630925/" target="_blank" rel="noopener">Chirag Mehta</a></em></span></p><p style="text-align: justify;">&nbsp;</p><h3 style="text-align: justify;"><span style="font-size: 18pt;">Frequently Asked Questions Answered by Chirag Mehta</span></h3><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 12pt;">1. What is Six Sigma in risk management? </span></h2><p style="text-align: justify;">Six Sigma is very useful for reducing the risk management of any project by using scientific methodology. It will also help take care of financials and be accurate with consistent data.</p><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 12pt;">2. What are the main phases of a Six Sigma project? </span></h2><p style="text-align: justify;">The main phases of Six Sigma projects are D-M-A-I-C, i.e. (Define/Measure/Analyze/Improve &amp; Control)</p><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 12pt;">3. What are two major tools used in the improvement stage of a Six Sigma project? </span></h2><p style="text-align: justify;">The two major tools that can be used in any Six Sigma project are Multivari/C&amp;E Matrix/&amp; P value measurements. Multivari &amp; P value is a statistical tool, whereas C@E Matrix is used to reduce potential causes &amp; give input to focus on critical characteristics.</p><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 12pt;">4. What are the Six Sigma project types? </span></h2><p style="text-align: justify;">Every project is Six Sigma Project type, but generally, it should be bifurcated in</p><ul style="text-align: justify;"><li>Transactional</li><li>Non-Transactional</li></ul><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;">&nbsp;</p>