The Value Chain in an organization is the sum total of all the processes which occur in the business to take inputs and turn them into customer desired outputs.
Answer : A
The ROI for a project is a measurement metric that stands for _____________________ and is one of the methods used to measure the success of a Lean Six Sigma project.
Answer : A
The DMAIC approach to problem solving stands for Define, __________, Analyze, Improve and Control.
Answer : B
When we create a Process Map we use a __________ to show the direction of work flow.
Answer : A
At the beginning of a project we must keep in mind there are basically three views of a process:
What you THINK it is, What it ACTUALLY is and What is DOCUMENTED.
Answer : B
When we create a Process Map we use a __________ to show the direction of work flow.
Answer : A
The following Business Case is constructed properly.
''During 2009 the commercial loan division experienced a 2.7% default rate versus a target of less than .5%. This costs the bank in excess of $250,000 quarterly.''
Answer : A