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  2. Rajesh and Sundeep's answers have been selected as winners as both have provided multiple examples of various technologies that are at various stages of HYPE Cycle. Well done!
  3. In this age of business disruptions and innovations, entrepreneurs and Investors alike, want to move away from the tested and tried and explore new ideas. Technology is the best catalyst for any such vision. New technologies are being discovered almost every day across the world and the news and awareness of any related information also spreads globally very fast due to access to communication mediums over internet and telecommunication. Needless to say, any technology’s success is reckoned and appreciated only when the broad market applicability of the said technology is relevant to any
  4. Q 345. Cherry Picking seems to be consistent with Rational Economic Behavior where quick returns are supported. The flip side is that cherry picking does not always provide optimum results. Elaborate pros and cons of "Cherry Picking" as used in Continuous Improvement project selection with suitable examples. Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please vis
  5. Yesterday
  6. Hype Cycle was conceptualized by Jackie Fenn in 1995, while working for Gartner as an Analyst and Gartner subsequently after years insisting and lobbying with the industry started with the annual Hype cycle visualization for new and emerging technologies and branded the tool as Hype Cycle. Hype Cycle is technology life cycle stages Graphical demonstration passing through Conception to Maturity to Widespread adoption. There are pre dominantly 5 stages in a Hype cycle but then we can build sub stages as well within those broad stages of a technology lifecycle. Mostly used by marketing and t
  7. Hype cycle:- Hype cycle is a graphical representation of the genuine success rate of any emerging technology. As we know that there are umpteen new technologies been developed every year, it is extremely challenging for organizations to choose the right one and invest on them. Many companies will realize in 4 - 6 months that they have invested on incorrect technology. One of the main reason for this challenge is because of the artificial hype created about the emerging technology. Gartner is an American establishment who has come up with a solution to over come the chal
  8. Last week
  9. the regression eqn is The regression equation is observed = - 0.2340 + 1.128 actual
  10. Hello Nagraj You need to determine the accuracy of the measuring device. But looking at the image and the question, the weight 30.8 Tons seems to be very very high as compared to the actual standard weight range that was used (as per image). In such cases, gauge might suffer linearity failure.
  11. Hello Nagaraj The image is not getting displayed.
  12. Sir While checking an instrument the following is the observation Now with this instrument a load is checked and the instrument measured 30.800 Tonns How can I now estimate the actual weight measured. Pls suggest
  13. Subodh's answer details out the steps involved in creating digital twins along with its applications while Rajesh has given many more applications of the technology. Hence both the answers have been selected as winners.
  14. Q 344. HYPE Cycle is used to better understand emerging technologies. What is HYPE cycle? Give examples of technologies that are at various levels of this cycle. Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM
  15. Digital twins are virtual replicas of physical entities -object /machines/ bodies. With advanced technology, such replicas can be created as a per the real physical object’s construct at the micro atomic level and the macro geometric level as well. At it’s optimum standards, any information that can be obtained by inspecting the physical product, can be obtained from it’s digital Twin. Thus, a Digital Twin is a computer program which integrates IOT, AI, Machine learning and software analytics to create effective simulations of real life Object/Machine/body, that can predict how a product
  16. Definition: A digital twin is a representation of a physical entity, operation, or service in digital form. A digital twin is a digital image of a physical entity, such as a jet engine or wind turbines, or even larger objects, such as houses or entire cities. The digital twin technology can be used to simulate processes in order to gather data and anticipate how they will work, in addition to physical properties. A digital twin is a computer programme that generates simulations based on real-world data to predict how a product or process would work. These virtual models have become
  17. Earlier
  18. If this was a Group Discussion round and I had to shortlist candidates, I would have selected all All the answers are so well written that it was a tough one to decide the best answer. Kiran and Rajesh Patwardhan have given the most practical answer. Subodh has mentioned three excellent methods of doing stakeholder analysis. Jayanth has highlighted the challenges and their counter measures. However, going by the question - What are some of the complexities observed in using this tool and how can they be overcome - and the number of challenged highlighted, the winning answer has been prov
  19. Q 343. What is Digital Twin methodology for process optimization and development. Give examples of industries where this can be applied. Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard T
  20. It is very common to see from managers invited for a (project) meeting, a request for the agenda and the participants and their role in the meet. The request is generally from a manager who understands the value of the impact of stakeholder’s influence on the project timelines and outputs. The importance of Stakeholder analysis and effective action on it, lies in the aspiration to uncover and remove any barriers in every milestone /phase of a project- It eliminates the roadblocks in completion of the project by helping to get information about project supporters, opponents , approvers and the
  21. Stakeholder analysis:- As synergy is the key to the success of any project, it is imperative to involve all the stake holders in the project appropriately. Stake holder analysis is one such powerful activity which will clearly explain the role and importance of each stakeholder. In stakeholder analysis, project leaders will rank all the stakeholders based on their importance at each stage, and also use appropriate strategies (ex:-written communication, inviting for tollgate meetings, educating about the project etc) to actively involve them in the project. Stakeholder a
  22. The PowerX Interest stakeholder analysis tool is extremely powerful tool for stakeholder management. Each quadrant of stakeholder pool requires addressing the stakeholder differently but if you have a well defined pool of people lying strictly within each quadrant, then each of these pools can be managed easily for e.g. pool of people in high power and interest are extremely important and need to be informed and buy-ins sought from them from time to time. Those in low Power and Interest quadrant, one may choose to just keep them informed as some of them may transition into another quadrant as
  23. Analysis of stakeholders is an extremely useful technique to define, consider and prioritise all stakeholders that can exercise control or authority over an organisation or project. Analyzing stakeholders, among other things, will demonstrate who they are, what their desires and aspirations might be, and what problems matter to them (and to what degree). This exercise will tell you, just as importantly, their true level of interest and/or control over your project. A detailed review would ensure that due consideration is extended to all involved parties. The effects of dispute reso
  24. Q 342. One of the key tools during various stage of a project is "Stakeholder Analysis". What are some of the complexities observed in using this tool and how can they be overcome. How much ever one wishes that the Stakeholders look at data in unity and take ONE decision, as humans we always will have the Stakeholder POWER / Interest coming into play : as an Advantage or Disadvantage !! The ideal being : High Power/High Interest, which might as such bring more than what one asks for(Shhhhh, or deserves). From my experience i recall witnessing : Low POWER/High interest giving few of t
  25. Hi, I am having trouble answering these questions for my course as the notes are not helpful and I have been searching for hours online but can't find anything. Any help with the questions in the image is much appreciated. Thank you
  26. Q 342. One of the key tools during various stage of a project is "Stakeholder Analysis". What are some of the complexities observed in using this tool and how can they be overcome. Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/
  27. Rajesh's answer has been selected as the winner as he has detailed out the steps involved in Trystorming along with some application areas.
  28. This method consists of of Rapid cycles of real-time experimentation,, used to-test and adjust improvement ideas before establishing standard work or implementing processes broadly.” In plain language this means – try it out! Try Storming incorporates physical actions which will engage other senses and provides testers a far better sense of whether a thought is viable or not. Trystorming is different from brainstorming therein it encourages the rapid development and test of a thought instead of merely brooding about the possible solutions. It allows people to see , touch and further improve
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