To increase capacity, a project team must decide between two…

To increase capacity, a project team must decide between two weaving looms. Both looms have comparable capacity and quality levels, but different costs. The team must evaluate the costs over a five-year study period, with an MARR (an interest rate) of 8% per year. Loom 1: The Josef Loom will cost $11,500 now, have operating costs of $500 per year, and have a salvage value of $1,500 after 5 years. What is the net present worth of the cash flows for Loom 1?    [loom1] The net present worth of the cash flows for Loom 2 is −$11,790. Which loom should the team select?    [select]

A Six Sigma project team is working to reduce errors in a fi…

A Six Sigma project team is working to reduce errors in a financial reporting process. The root cause analysis showed a significant difference between departments. The team is in the Improve phase and evaluating several ideas. The table below summarizes scores against decision criteria for the ideas.  CRITERIA AND WEIGHT Cost CTQ Impact Ease of Implementation Customer Satisfaction IDEA 3 4 2 1 TOTAL SCORE A 4 5 5 5 (a) B 4 4 3 4 (b) C 2 2 2 2 (c) Scoring: 1 = Worse and 5 = Better What is the total score for idea A?    [sa] What is the total score for idea B?    [sb] What is the total score for idea C?    [sc] Which idea should the team pick?    [select] (enter A, B or C)

A lean team was chartered to evaluate and enhance operations…

A lean team was chartered to evaluate and enhance operations and patient flow in a hospital’s operating rooms.  The team focused on the patient admission to the SPU process areas.  The project was managed through the DMAIC framework.  The process analysis showed that more than 60% of the process activity was non-value added activity.  The team is ready for the Improve phase. Which of the following approaches could the team use to generate ideas to address and eliminate waste? [which]

Martin Luther King Jr. went to jail many times for acts of c…

Martin Luther King Jr. went to jail many times for acts of civil disobedience such as ignoring court orders prohibiting marches and boycotts. Some people, even those who agreed with him, criticized him for disobeying the law. However, most people today view these actions as a form of