TY - GEN
T1 - Normative approach to six sigma project selection
AU - Al Kindi, Mahmood
PY - 2011
Y1 - 2011
N2 - This paper introduces the notion of expected utility and how to implement it in Six Sigma. Moreover, it intends to bridge the gap between process variation and the economic impact in order to have a clear view of economical consequences. It is agreed that the key for the success of any manufacturing firm is to select the most profitable project. There is a significant awareness in the Six Sigma community of the need for a tool that incorporates uncertainties, is data driven, and takes into account all financial aspects. Having an outstanding process quality is not necessarily an economical objective.
AB - This paper introduces the notion of expected utility and how to implement it in Six Sigma. Moreover, it intends to bridge the gap between process variation and the economic impact in order to have a clear view of economical consequences. It is agreed that the key for the success of any manufacturing firm is to select the most profitable project. There is a significant awareness in the Six Sigma community of the need for a tool that incorporates uncertainties, is data driven, and takes into account all financial aspects. Having an outstanding process quality is not necessarily an economical objective.
KW - Expected Utility
KW - Project Selection
KW - Six Sigma
UR - http://www.scopus.com/inward/record.url?scp=79960586944&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=79960586944&partnerID=8YFLogxK
U2 - 10.1109/SYSCON.2011.5929041
DO - 10.1109/SYSCON.2011.5929041
M3 - Conference contribution
AN - SCOPUS:79960586944
SN - 9781424494927
T3 - 2011 IEEE International Systems Conference, SysCon 2011 - Proceedings
SP - 189
EP - 193
BT - 2011 IEEE International Systems Conference, SysCon 2011 - Proceedings
T2 - 2011 5th IEEE International Systems Conference, SysCon 2011
Y2 - 4 April 2011 through 7 April 2011
ER -