What was the average cost savings per Black Belt project?
According to survey results, the median value of “hard” financial savings (direct impact to a company’s financial statement) per Six Sigma Black Belt project is $200,000 across all industries and company sizes.
How much is a Six Sigma Black Belt worth?
Six Sigma Black Belts are paid an average $127,000—nearly 34\% more than Green Belts.
What are the costs and savings of Six Sigma?
The main finding of this research is that effective implementation of Six Sigma led to an average savings of 1.7 percent of revenues over the period of implementation and an average return of more than $2 in direct savings for every dollar invested on Six Sigma.
What makes a good Six Sigma Black Belt project?
A good Six Sigma project has a solution that must be discovered through the Process. Learn More… of Analysis. We should understand the Output (the “Y”) in measurable terms. For a Black Belt project, these measurable and controllable inputs (X’s) should be both Attribute/Discrete data and Variable/Continuous data.
How do you select a black belt project?
Selecting a project for Lean Six Sigma Black Belt Training
- Make sure the project driver is ‘clear and present’.
- Ruthlessly scope any potential project you are being asked to undertake to the smallest scope possible.
- Make sure your project can be sold well to the organisation.
What makes a black belt project?
Black Belt projects are those that provide a financial impact for a company and include things like: reducing defects, reducing machine setup, correcting areas that were rejected in an audit, reducing added labor and reducing extra material.
How do I pick a greenbelt project?
Things to consider
- The project should be ‘do-able’ over the period of about 3 months.
- It should be neither too big nor trivial.
- It should address an issue, which is important to your organisation.
- You will need a ‘Sponsor’ to provide guidance and to assist in removing barriers and getting resources.