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In This Issue
Role for Design of Experiments in Financial Operations
The underused DOE tool can be valuable to financial services businesses when they realize the reason it is a favorite in general business environments: It is an extremely efficient way of identifying what matters in a process and what does not. That means businesses can focus their energies on the factors that really make a difference in effectiveness and efficiency.
Many companies avoid using design of experiments in part because it sounds complicated. This article gives an example that shows the basic setup is straightforward. Most people who use DOE once become instant converts because the results usually have immediate practical application. It shows which process or design factors have the biggest impact on quality, speed, performance or delivery. That translates into better decisions.
http://finance.isixsigma.com/library/content/c050223a.asp
Most Practical DOE Explained For purposes of learning, using, or teaching Design of Experiments (DOE), one can argue that an eight run array is the most practical and universally applicable array that can be chosen. There are several forms of and names given to the various types of these eight run arrays (e.g., 2^3 Full Factorial, Taguchi L8, 2^4-1 Half Fraction, Plackett-Burman 8-run, etc.), but they are all very similar.
A free Microsoft Excel spreadsheet with a 2^3 Full Factorial array showing the mathematical calculations accompanies this article in addition to generic steps for using the spreadsheet, precautions, and additional advice.
http://finance.isixsigma.com/library/content/c030616a.asp
New Six Sigma Job Openings
Six Sigma Black Belt-London
Roundpeg Associates | United Kingdom-London
http://jobs.isixsigma.com/apply.asp?ID=672
Process Improvement Leader
Roundpeg Associates | United Kingdom-west midlands
http://jobs.isixsigma.com/apply.asp?ID=2353
Senior Process Manager
ABN AMRO Mortgage Group, Inc. | US-Nationwide-Jacksonville
http://jobs.isixsigma.com/apply.asp?ID=2658
Master Black Belt
The Madison Davis Group | US-New York-Various
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Lead Process Consultant/Engineer
The Madison Davis Group | US-Kentucky-Kentucky
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Six Sigma Black Belt
The Madison Davis Group | US-Connecticut-Various
http://jobs.isixsigma.com/apply.asp?ID=908
Project Management Analyst
BearingPoint | US-Maryland-Lexington Park
http://jobs.isixsigma.com/apply.asp?ID=2200
Six Sigma MBB, Strategic Manager
Roundpeg Associates | United Kingdom-London
http://jobs.isixsigma.com/apply.asp?ID=669
Six Sigma MBB/PM
Roundpeg Associates | United Kingdom-North of England
http://jobs.isixsigma.com/apply.asp?ID=2356
Six Sigma Black Belt with Product Development
Summit Professional Search | US-Colorado-Denver
http://jobs.isixsigma.com/apply.asp?ID=723
Recent Quality Discussions
Determining Correct Measure for Cycle Time Data
I'm in the process of collecting cycle time data of a loan closing process. One of the problems is that the data is skewed to the right because some loans are put on hold at the request of the borrower (or for many other outside factors) significantly delaying the closing date. Those influences are not the focus of this project. The scope is limited to our internal processing system. And, unfortunately, it's very difficult to determine in a reliable way which loans were delayed due to outside causes.
"Should I be using the mean or median or some other measure as the measure of central tendency?
http://finance.isixsigma.com/forum/showmessage.asp?messageID=779
Reducing Referrals to Underwriting
I have just started working on a project to reduce the number referrals to our underwriting department. If someone has done a similar project, can you share what your scope was and the metrics that you used? Thanks in advance for sharing your experiences.
http://finance.isixsigma.com/forum/showmessage.asp?messageID=799
Benchmarking Six Sigma Project Tracking Software
We are currently tracking our projects manually in a spreadsheet. Can anyone recommend a Six Sigma project tracking software that has been useful to them?
http://finance.isixsigma.com/forum/showmessage.asp?messageID=798
Measuring Effective Communication Activities
How do I measure the effectiveness of the communication activities in promoting internet banking? If I merely go by the increase in number of registered internet banking users, there's nothing much else I can study, help!
http://finance.isixsigma.com/forum/showmessage.asp?messageID=248
The Latest News & Press Releases
- Wipro Six Sigma Consultant to Bank
- Harleysville Group Reports Fourth Quarter and Year-End 2004 Results, Continues Six Sigma
- New Digital Dashboards Go Beyond Drill-Down to Drive Strategic Business Success
- Excel Partnership's Six Sigma Program Drives Your Organization Out of the Box to New Levels of Performance Excellence
- Ignoring Six Sigma Can Cost You Money: Black Belts Deliver $188K Hard Financial Savings Per Project
http://finance.isixsigma.com/ne/news/
Upcoming Conferences & Training Events
Additional conferences & training events:
- Six Sigma Green Belt Training - California [Feb 28]
- Beyond Excel: Easy SPC Charting seminar - Georgia [Mar 2]
- Six Sigma Black Belt Training - New Jersey [Mar 7]
- Six Sigma Executive Overview - Nevada [Mar 7]
- Service Green Belt - Oregon [Mar 8]
- Green Belt Training - Tennessee [Mar 14]
- Change Leadership - Michigan [Mar 14]
- Six Sigma Gold Belt Training - Arizona [Mar 21]
- Designing Six Sigma Call Centers: How to Optimize Your Help Desk or Call Center - California [Mar 23]
- Lean for Transactional Environments - Nevada [Mar 29]
http://finance.isixsigma.com/ne/events/
Book Giveaway - 'Getting Started in Six Sigma'
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