Look around your workspace. Is your in-box stuffed to overflowing? Do you have a long list of new emails that will take you days to get through? Is your voice mail rejecting new messages? Are people waiting for your work output? All of those items represent “work in process,” also called “things in progress” (TIP)….
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In any financial service process that is being studied for the first time, it is common for Six Sigma teams to spend one-third to one-half of their project time on data collection alone. It simply takes a lot of time to figure out what data is needed, to develop a reliable data collection process and…