Why are Companies Constantly Upgrading their ERP Systems?
February 7, 2025
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What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]
How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]
Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]
In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]
Closing a Six Sigma project is an elaborate exercise. One of the biggest parts of this exercise is the explicit documentation of the project. However given its importance to the projects that maybe executed at a later date, its importance is unquestionable. Here is a checklist of the activities that need to be performed while formally closing a six sigma project.
The most obvious thing to do while closing a Six Sigma project is to ensure that the objectives that were the cause of the project in the first place have been adequately met. The fact that there are numerous stakeholders with varying objectives, ending the project requires getting sign-off documents from all these stakeholders.
For each sign-off, the objectives set up in the Project Charter are reviewed. The achievements of the project team are then viewed in the light of these objectives and a decision is reached upon whether the Six Sigma project has been a success. However, since the objectives have tangible numbers, there is very less scope for politicising and ambiguity.
Six Sigma projects are meant to build process capability. Hence, it is the job of the Six Sigma team to ensure that the results obtained are standardized. This entails ensuring that the results are not dependant on the skill, knowledge or expertise of any workers or managers involved and can work independently of it.
As we have discussed earlier, no process is error proof. No matter how well designed the process, there is always a probability that things can go wrong. It is the job of the Six Sigma team to list down such scenarios where things can actually go wrong and work towards preventing them from happening in real life.
The plans should be documented along with discussing it with the process owner. There must be experts appointed to solve every type of possible problem that the Six Sigma team can foresee.
Every Six Sigma project executed brings with itself a wealth of knowledge. This knowledge may pertain to application of Six Sigma methodology, team building or more knowledge about the process in question.
This knowledge needs to be explicitly documented and stored in the knowledge repository of the organization for re-use.
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