In these article we will see Six Sigma methodology in project management
The markets are tending to grow, and all the business firms are willing to secure the top position in the markets. For this, they are delivering good quality projects. A project is a series of tasks that need to be completed in order to reach the desired result. The projects are carefully planned and designed to achieve a particular aim. It also involves research related to the topic of the project.
Six Sigma project management
Six Sigma is also known as an undertaking that is carried out by individuals. There are a total of five stages of a project, and those are – initiation, planning, execution, performing, and at last closing of the project. For handling these projects, the business firms hire certified project managers. He/she is responsible for planning, organizing, and directing the completion of the project for an organization.
The project managers also need to ensure that these projects are completed in the given time, within the budget and in the desired scope. The demands for these project managers are high as they are needed in a wide variety of industries.
Six Sigma and its benefits:
Six Sigma is basically a set of management techniques. These techniques are intended to improve business processes by reducing the probability of a defect. It helps in improving the production processes and guarantee quality. It is a quantitative approach that involves setting up a system.
There are many benefits of six sigma, and few of them are: it helps in career advancement, it has applicability across industries, it improves business processes and sustains the quality improvement, it ensures compliance, it helps in nurture managerial and leadership ability, it has standardization and also it has an excellent salary.
Six Sigma methodologies in project management:
Six Sigma focuses on reducing defects, irregularities and service inefficiencies when a company is producing a good or service. There are numerous reasons for using the six sigma methodology in project management. The very first reason is the Six Sigma helps to enhance customer loyalty and boosts customer retention. It is really important for every business to ensure customer delight so that the customers will choose to be loyal to your brand only and not switch to any other brand.
By using six sigma methodologies, you will automatically be able to eliminate the chances of having dissatisfied consumers. Also, to boost your customer loyalty successfully, you can even carry out a customer dipstick to understand the crucial attributes of your service that is necessary for customer satisfaction.
Secondly, the Six Sigma helps you to shape up your corporate strategy. Whenever your organization defines its mission, objectives, the application of six sigma tools will let you concentrate on the areas which need improvement in an accurate way. If the strategy of your business is about being a cost leader, then Six Sigma would maximize yields, maintain the lowest cost supplier agreements, and enhances internal processes.
Thirdly, it keeps the employees and staff motivated. One of the most important things for a business to get success is employee and staff performances. It leads to an increase in productivity, which translates into increased service revenues. For this, there is a need to keep the employees motivated so that they work and perform consistently.
Rapidly expanding companies that keep their employees motivated to enjoy an increase in productivity of around 25% – 50%. By using the Six Sigma problem resolving process and tools, it will help in effectively foster employees’ development. Also, you will be able to build a corporate culture of effective knowledge.
Fourthly, it helps in reducing the cycle times to a great extent. Many times, projects go beyond the deadlines because of the modifications made in the project scope, and there are few shifts in management policies. When using Six Sigma tools, you will be able to designate teams with some expert professionals within the company itself. The work of the team is to recognize the factors that have the chance to impact the project in a negative way owing to long cycles. To compensate for this negative impact, this team can be ask8ed to look for solutions too.
Six Sigma used in project management. The best thing is it identifies the defects so that it can be taken care of before the final outcome has been made. Almost every business firm has six sigma techniques to improve its business.