EPISODE B4.009 So We Are Sigma (Quality) What?

RESULTS RADIO..."Let's Grow Together"

Introduction
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Show Objectives - The Why
Don't let the sound of the title intimate, this is very simple. You are trying to set up metrics that allow you to track performance over time and compare to other companies - in your industry and others. I promise not to turn this into a statistics class.

You need to create what is called 'normative' data' - a reference group to use as a benchmark for comparison in real-time and over time. The reference group needs to be reasonable large so you can pull random samples if needed. An example of a reference group is building data from all the companies in your industry from a resource like DB Hoovers. Now you can see how your business compares to others and identify obstacles to becoming an industry leader.

Key Issues - Owner/Manager Perspective:

1. How are we measuring critical metrics.
2. Each scorecard area - what are our current numbers.
3. Where do we stand against the competition - how many std deviations (sigma's).
4. Where do we stand against last time (have we improved or declined - what is today's sigma vs last time).

What You Need to Know - The What​

• Sigma = the summation, used to indicate one standard deviation from the mean
• Sigma 1 = 68.2% (318 defects per 1,000)
• Sigma 2 = 95.4% (54 defects per 1,000)
• Sigma 3 = 99.7% (3 defects per 1,000)
• Sigma 4 = 99.993% 
• Sigma 5 = 99.99994%
• Sigma 6 = 99.9999998%

What You Need to Do​​ - The How

1. Locate business data resources like DB Hoover and create an account.
2. Match your current measurements to the database - what do you measure that can be compared.
3. Compare your performance to the reference group - where do you stand? Sigma What?
4. Create new measures, as appropriate, to fill in the gaps for comparisons. Sigma What?
5. Create a new baseline for performance targets - and what is the gap today? Sigma What?

Shows

• Previous: EPISODE B4.008 PLATFORM ENABLES AUTONOMY AND RIGHT FIRST TIME PERFORMANCE
• Next: EPISODE  B4.010 What is the Gap between Where We Are and Where We Could Be?