iSixSigma

Quantify the Benefits of Six Sigma Projects

Create Six Sigma project charters that are compelling to business leaders by capturing all quantifiable benefits of eradicating a business problem. This checklist will help you do so.

We’ve all been there before… you have identified a problem area within your business and now you are chartering a green belt or black belt Six Sigma improvement project. But the problem is… you’re unsure if you’ve captured all of the potential benefits of eradicating a business problem. If this situation sounds familiar, this article is for you!

Use the following checklists as a guide to help build Six Sigma project charters that are compelling to business leaders. It will help support and justify why the business should focus on the problem, devote resources and modify processes.

Financial Benefits of Six Sigma Projects
Six Sigma Project Benefit Creates additional/new revenue
Six Sigma Project Benefit Creates cost savings through tax avoidance
Six Sigma Project Benefit Enables cost avoidance
Six Sigma Project Benefit Faster return on investments
Six Sigma Project Benefit Increases cash flow
Six Sigma Project Benefit Increases profitability of existing products/services
Six Sigma Project Benefit Increases revenue of existing sources
Six Sigma Project Benefit Increases stock price/shareholder value
Six Sigma Project Benefit Lowers cost of production
Six Sigma Project Benefit Lowers cost of servicing

Organizational Benefits of Six Sigma Projects
Six Sigma Project Benefit Builds company reputation
Six Sigma Project Benefit Creates new customer opportunities
Six Sigma Project Benefit Fosters company vision and mission
Six Sigma Project Benefit Improves market position relative to competitors
Six Sigma Project Benefit Improves the ability to serve customers
Six Sigma Project Benefit Increases competitiveness and ability to charge a premium

Operational Benefits of Six Sigma Projects
Six Sigma Project Benefit Decreases employee work loads for undesirable work
Six Sigma Project Benefit Elminates non-value added activities
Six Sigma Project Benefit Improves employee morale / team spirit
Six Sigma Project Benefit Improves internal communication between departments and groups
Six Sigma Project Benefit Improves use of workspace
Six Sigma Project Benefit Increases employee and process productivity
Six Sigma Project Benefit Reduces cycle time
Six Sigma Project Benefit Reduces cycle time of production/process
Six Sigma Project Benefit Reduces external inputs to processes
Six Sigma Project Benefit Reduces person-hours
Six Sigma Project Benefit Reduces process steps
Six Sigma Project Benefit Simplifies processes and workflow steps

Handpicked Content:   Developing Key Performance Indicators

Information Technology Benefits of Six Sigma Projects
Six Sigma Project Benefit Decreases maintenance/support costs
Six Sigma Project Benefit Enables service level agreement (SLA) obligations
Six Sigma Project Benefit Improves application/system performance
Six Sigma Project Benefit Improves application/system utilization rate
Six Sigma Project Benefit Increases efficiency of support activities
Six Sigma Project Benefit Increases productivity through automation
Six Sigma Project Benefit Maintains intellectual property investment
Six Sigma Project Benefit Preserves value of technology
Six Sigma Project Benefit Reduces application/system variation (increases reliability)
Six Sigma Project Benefit Reduces paper documentation requirements
Six Sigma Project Benefit Strengthens application/system security

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