Novel Six Sigma DMAIC Approaches to Project Risk Assessment and Management |
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Author:
| Bubevski, Vojo |
Series title: | Advances in Logistics, Operations, and Management Science Ser. |
ISBN: | 979-8-3693-2819-4 |
Publication Date: | May 2024 |
Publisher: | IGI Global
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Imprint: | Business Science Reference |
Book Format: | Digital download and online |
List Price: | USD $295.00 |
Book Description:
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In today's fast-paced business environment, project managers face the daunting challenge of managing risk effectively amid uncertainty. Traditional project management methodologies often lag, leading to missed deadlines, cost overruns, and subpar outcomes. A comprehensive risk management framework is necessary for organizations to be protected from fate's whims, hindering their ability to achieve strategic objectives. The DMAIC Stochastic Method is a groundbreaking approach that...
More DescriptionIn today's fast-paced business environment, project managers face the daunting challenge of managing risk effectively amid uncertainty. Traditional project management methodologies often lag, leading to missed deadlines, cost overruns, and subpar outcomes. A comprehensive risk management framework is necessary for organizations to be protected from fate's whims, hindering their ability to achieve strategic objectives. The DMAIC Stochastic Method is a groundbreaking approach that combines Six Sigma principles with stochastic modeling to revolutionize project risk management. Novel Six Sigma DMAIC Approaches to Project Risk Assessment and Management is a guidebook for implementing the DMAIC Stochastic Method in project management. This innovative methodology provides a systematic way of identifying, assessing, and mitigating risks, ensuring that projects stay on track and deliver the desired results. By integrating deterministic and stochastic models, the DMAIC Stochastic Method offers a more holistic view of risk, enabling managers to make informed decisions and proactively address potential issues.