Cost benefit analysis
To choose between alternative solutions, cost-benefit analysis can help you make the right decision. It can be challenging to quantify the effect. It requires the ability to see the complete picture and how the change affect the overall business.
Lean Six Sigma focus on gathering neutral information and make fact-based decisions. Improvements should create bottom line results and true root causes are to be solved by choosing the best option among several alternatives. Lean Six Sigma's problem-solving method DMAIC follows these steps:
- Define: Select the right projects and collect data to understand the problem
- Measure: Map the current situation and baseline the process
- Analyze: Identify root causes and analyze data to prove / disprove them
- Improve the process by implementing and verifying the best solution
- Control the new process by maintaining the solution.
The improve phase of Lean Six Sigma identifies different solutions and prioritize based on cost & benefit of the different options. To make the right decision it's important to evaluate pros and cons of the various alternatives. Time, effect on problem and cost of implementing are important to consider when deciding.
A cost benefit evaluation does not need to be 100% correct, 90% is usually more than enough to make the right decision. Lean Six Sigma includes prioritizing tools (e.g. Impact Effort Matrix) and is well suited for cost-benefit analysis.
"I was very impressed with Sissel's Lean Six Sigma knowledge. She makes it easy to identify improvements and create results"
"Sissel has proven herself as a competent and committed employee. She has been an important contributor to make good progress in the projects she has worked with. At the same time she is accurate and has good quality of the work she performs."
"We are very happy with the work carried out. We was not very clear what the order was, but with your background and expertise the outcome was what we were looking for and a document we will benefit from in the future"
"We hired Lean Tech to develop monitoring program for air emission. The assignment was delivered with the correct content at the right time. Recommended." 
"Sissels ability to quickly understand the issue, as well as her commitment and expertise is impressive. Her analytical and thorough contribution to our monitoring program has been precise and targeted, and very educational. " 
"Very nice and professional service. Delivered a good job within deadlines"