Question

Answer ANY 5 of the following 8 questions. Each answer should be about half-a-page & not exceed one page 1. Explain basic principles of Six Sigma programs. 2. Explain cost-time trade-offs (crash cost approach) in project management. 3. Define Risk as it applies to projects. What are the major sources of risk in project? (5x12-60 points) What is the importance of Implementing Redesigned Processes? What are the common mistakes we need to avoid? 4. CD players are produced on an automated assembly line process. The standard cost of CD players $150 per unit (labor, $30; materials, $70; and overhead, $50). The sales price is $300 per unit. a. To achieve a 10 percent multifactor productivity improvement by reducing materials costs only what percentage must these costs be reduced? b. To achieve a 10 percent multifactor productivity improvement by reducing labor costs only, by what percentage must these costs be reduced? c. To achieve a 10 percent multifactor productivity improvement by reducing overhead costs on what percentage must these costs be reduced? 5. A small manufacturing business has patented a new device for washing dishes and clear dirty kitchen sinks. The owner wants reasonable assurance of success 6. 7 ner unit nroduced and sold

Answer 1

Answer 1:

The key principles of six sigma are:

• Be customer-centric and focus on customer requirements.
• Deep understanding of process, i.e. apt and detailed Value stream analysis
• Managing and improving process flows in order to make them more efficient and more effective
• Reduce the waste or unwanted activities and steps, elimination of non-value adding activities.
• Using DMAIC to assessing problems.
• Reducing the variations in the process.
• Bring the team on same page and bring collective effort in operations.
• Continuous efforts for improvements.