Black Belt Six Sigma projects and financial impact
Hello ASQ community and fellow members,
During recent discussion I was asked what constitutes a good black belt six sigma project and what impact that project should have in the organization. More specifically with a black belt six sigma project it should have cost impacts that hit the bottom line (either soft costs or hard costs).
My question to the ASQ community is what dollar value impact would be seen appropriate for considering a project a black belt six sigma level project versus a green belt project ?
I know there is lots of info out there on median average savings from a black belt projects completed across various organizations and the dollar value ranges from industry to industry; but curious if anyone has set a limit to the needed financial impact before approving a black belt project move forward.
To start the conversation I see a lot of info surrounding impact of between $100,000 and $200,000 dollars upon completion of the black belt project as the mean savings for companies in various industries.
You feedback is appreciated :)
Mike C.