Gap Analysis to Financial Success

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Posted by: Trevor S.
Posted on: Thursday, 3rd August 2000, 12:00 AM.

First, determine what you are spending on your current processes -- documenting where you are (Define and Measure) is key to quantifying any financial benefit.

Second, create the new process from the as is process (Analyze and Improve) and quantify the anticipated cost reductions from productivity increases, automation, reduction of steps, reduction of time required to perform process (cycle or turn around time), etc. You should also verify this result in the new process -- not just rely on the fact that you think you're going to save hte money.

Third, control the process to ensure that your financial results are sustainable.

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 Message Thread:

Guidelines for Calculating Financial Benefits of Six Sigma Projects by Tim Connell on Sunday, 30th July 2000

Calculate Financial Benefits by iSixSigma Community on Tuesday, 1st August 2000

Project Cost Saving Guidelines by Carol on Wednesday, 2nd August 2000

Gap Analysis to Financial Success by Trevor S. on Thursday, 3rd August 2000

Re: Guidelines for Calculating Financial Benefits of Six Sigma Projects by Judy on Tuesday, 8th August 2000

Re: Guidelines for Calculating Financial Benefits of S by Muhamad Saini Mokhtar on Wednesday, 23rd February 2005

Re: Guidelines for Calculating Financial Benefits of Six Sigma Projects by Grady Tucker on Tuesday, 8th August 2000

Re: Guidelines for Calculating Financial Benefits of Six Sigma Projects by Doug Mader on Friday, 18th August 2000

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