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Topic Building a Model to Measure Process

Building a Model to Measure Process

Home Forums General Forums Methodology Building a Model to Measure Process

This topic contains 3 replies, has 3 voices, and was last updated by  Robert Butler 2 days, 16 hours ago.

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  • #700637 Reply

    Doug

    My boss has tasked me to build a audit model that can measure output BEFORE implementing a project/process.

    We’ve already created a process model for the product.

    Now he asking to create a process measuring template/formula that will define output before moving forward on the project.

    I’m stumped. Is there a tool L6 has that can measure return on investment before deciding to move forward on a projects?

    #700655 Reply

    Is he/she referencing your regressions or other predictive measures that would estimate how the output would change if the X’s are changed as recommended by the findings?

    That could be the model.

    #700674 Reply

    Doug

    No. We won’t be referencing regressions.

    I’m pretty new to this so, forgive me for sounding so novice.
    What L6 tool would you suggest can estimate how the output could change if the X variably changes.

    I have the output data on multiple-X projects.

    If I’m asking this correct, I need to provide a method/formula that can loosely predetermine an Xs output based off of previous referenced data(prior to implementation).

    I work for a newspaper and the boss wants to determine if the Return on Investment is worth the effort on future proposed products. {In other words…Before we begin, is it worth the time & money?}

    #700730 Reply

    You said ” I need to provide a method/formula that can loosely predetermine an Xs output based off of previous referenced data(prior to implementation).” which, based on my reading of that statement, says you can choose various and sundry measured variable connected with prior projects and for each of those projects you have a measured ROI. The issue then becomes one of running tests of the changes in those X’s to see if they correlate with ROI changes.

    If you won’t be referencing regressions then I don’t see how you expect to generate predictions. What you a describing is a situation where you are trying to relate measured inputs to a measured output – ROI. That is going to require statements of either percent changes in ROI or odds of increasing ROI. Both of those use predictive equations to describe the outcome.

    The biggest issue is going to be one of prior data. If we assume one ROI for each project then you are either going to have to have a lot of projects or a few project each with the same kind and low number of X’s.

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