Vishwadeep Khatri

Congrats to Ram, Pavan, and Rajesh for excellent answers. The winer is R Rajesh because of his comprehensive coverage of failures and best practices.

Q 217. Explain Bathtub Curve and its utility in reliability engineering. Is this concept applicable for all products? 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 Time. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term.

Ram Rajagopalan and Pavan Chinta, both are winners for their accurate descriptions of Paynter Chart.

Q 216. According to a survey, around 16% of Agile projects are a complete failure amounting to a loss of around $50 Billion annually to the tech companies. What are the most common reasons for failure of Agile Sprints? What are some of the best practices to avoid such failures? 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 Time. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term.

The winner today is Pavan Chinta. Congratulations, Pavan for a very good answer along with valid examples!

Q 215. Explain Paynter Chart and compare it with Pareto Chart. 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 Time. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term.

Bench is critical about Six Sigma and similar approaches, and thinks that these take long time. Bench also thinks that by the time perfection reached, the process becomes obsolete. Mark has a different outlook. He knows DMAIC is suitable sometimes, DMADV or DFSS is needed at other times. Mark also knows that other approaches exist and has a well thought out approach to problem solving.

Q 214. The simplest method to explore improvement in margins is to understand the degree of price elesticity of demand for your company's products. Explain the five degrees and provide examples of products that are likely to have them. 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 Time. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term.

The best answers for IoT security threats are provided by Shashank Parihar and Mohamed Asif. Both of them are winners for this question.

Q 213. It is common to see two aproaches in Hypothesis testing. These are mentioned below. Take a certain number of samples (whatever is feasible practically), and test the decided hypothesis. If the statistical significance is not proved, take some more samples. Keep increasing samples as long as possible and stop if significance is proved. This aproach keeps initial cost low. Decide the number of samples using a sample size calculation (considering alpha, beta, difference to be detected and hypothesized value etc.) and take a decision based on the outcome of hypothesis testing. This approach provides decision in one go. Which of the two approaches for Hypothesis testing will you select? Why? 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 Time. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term.

Q 212. What are the security concerns with Internet of Things (IoT). Explanation with simple words and examples will be appreciated. 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 Time. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term.

Q 211. VUCA - Volatility, Uncertainty, Complexity, Ambiguity - These seem to be interesting situations that the corporate world finds itself in. VUCA situations have been studied and explored to some extent. Explain each element of VUCA with three different Industry examples. Also explain how the four situations can be tackled with the help of Business Excellence approaches. 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 Time. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term.

Excellent response by Mohamed Asif and he is the winner. Also commendable is the response by Bhavin. I am sure if Bhavin was able to spend more time, he would hae built up on his answer.