Step 4: Develop a Business Case for your Project
Now that we have the problem as well as the goal statement handy, it is time to ensure that these statements are well articulated in the business case. The management has to choose amongst several possible six sigma projects while granting its resources. The ones that do succeed in getting the resources from the management are ones that have clear cases of compelling value proposition. Here is more about the business case:
What is a Business Case ?
A business case is a document that uses the problem and the goal statements and converts it into a statement of business value. The management might understand that there is a problem and that you have a goal after reading your problem and goal statements. However, is your project solving one of the most urgent problems confronting the organization is what the business case is supposed to convey.
What makes a Business Case Compelling ?
Example: The loss in productivity as a result of employees coming late is $5 per minute per employee. Hence for a 1000 employees (40% of the workforce), the management is losing $5000 per minute for 15 minutes i.e. $75,000 every day.
If the organization thinks saving $75,000 going down the drain is their priority, they will buy in the business case.
- Step 3: Defining the Problem Statement
- Goal Statement & Problem Statement
- Tips for Writing Effective Statements
- Step 5: Assembling the Project Charter
- What are Metrics ?
Authorship/Referencing - About the Author(s)
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