| Commonly utilized risk management tools such as | | | | implementations. |
| FMEA (failure mode and effects analysis) are no | | | | Such a team can certainly help because it will know |
| doubt quite effective, but since they often make risk | | | | exactly the data or information that needs to be |
| management a long drawn process, businesses need | | | | gathered from the completed projects and shared |
| to try out other less taxing options that might be just | | | | with the ongoing project. This will eventually make the |
| as effective. | | | | implementations a lot more affordable and risk-free, all |
| For example, businesses that are not afraid to take | | | | of which will prove beneficial for the business, both in |
| calculated risks can try out the highly successful | | | | the short term and long term. |
| Japanese technique 'Yokoten', which basically means | | | | Sharing Data from Concurrent Projects |
| taking something from one place to another. | | | | The fact that Yokoten calls for sharing data from |
| For better understanding, we'll look at how 'Yokoten' | | | | completed projects may tempt many people to |
| can help businesses in streamlining and simplifying their | | | | believe that it can only be deployed by old patrons of |
| risk management functions. | | | | Six Sigma, but this is certainly not true obviously |
| Sharing Data Available From Completed Projects | | | | because Yokoten does not prohibit the sharing of data |
| It is true that each and every Six Sigma | | | | from concurrent projects, which works just as well. |
| implementation project is different in terms of the | | | | Data and information collected from concurrent project |
| stated goals and objectives, but since the major risks | | | | may be relatively less reliable, but since businesses that |
| involved such as customer dissatisfaction, increased | | | | have just recently opted for Six Sigma, hardly have |
| cost of operations, etc. are more or less the same, | | | | any other effective option, it does make sense to opt |
| businesses can always depend on Yokoten to take | | | | for Yokoten. |
| proper care of the associated risks. Yokoten can | | | | For best results, businesses need to avoid using data |
| certainly help, because it emphasizes increasing | | | | and information that may lack conclusive evidence in |
| learning at the organizational level through the sharing | | | | terms of its applicability to a given business process. |
| of implementation data and other critical information as | | | | Both the methods described above are quite effective, |
| might have become available from completed projects. | | | | but if businesses want to provide the best cover for |
| However, since the amount of data and information | | | | the associated risks, they should opt for the |
| collected from completed projects is often too large | | | | penultimate 'Yokoten' technique, which lays emphasis |
| and unclassified, businesses are required to put in | | | | on getting the most critical data and information from |
| additional efforts, especially if they are to derive any | | | | both completed and concurrent projects. |
| real benefits from the vast amount of collected data | | | | The usability of this technique is however limited |
| and information. The best that businesses can do is | | | | obviously because there are not many businesses that |
| create an independent team comprising of members | | | | claim to have both completed and concurrent Six |
| having the requisite technical knowledge and expertise | | | | Sigma implementation projects, apart from the project |
| and a fair amount of experience in Six Sigma | | | | currently being targeted. |