The whole approach revolves around the goal to reduce variation in processes which cause deficiencies. For example, let’s take a mortgage lender whose goal is to close loans within 30 days. There would be a natural variation in the loan closure timelines. In other words some loans would be closed in 25 days, others in 28, 32, or even in 45. The more variation there is in closure timeliness in excess of 30 days, the less customers will be happy. Nobody would like to wait 35 or 42 days when a bank promises 30. This can effectively lead to a decline of the lending business. A 6 sigma project would focus on reducing loan closure timeline variation. Specifically, the goal of such project would be significantly decreasing instances when the bank exceeds promised 30 days while closing mortgage loans.
How Much It Costs to Take Six Sigma Certification Exam
About Six Sigma Certification
Why Six Sigma Certification
History of Six Sigma
Lean Six Sigma Belt Roles and Responsibilities
Below is an inforgraphic from Villanova University which has good visual explanation of what lean six sigma is.