Strategic Portfolio Management
A smart, realistic and relatively fast way to gain sustainable competitive advantage
Successful program management hinges on the program's level of visibility, predictability, focus, and forecasting. It also involves a disciplined approach to instituting processes. Regardless of a program's complexity and size, program management focuses on the clarity with which the issues and risks are identified. The Six Sigma approaches are basically problem-solving tools and defect prevention techniques. The two types of Six Sigma techniques are DMAIC (Define, Measure, Control, and Improve) and DFSS (Design for Six Sigma). The DMAIC is mostly used for process improvement purposes; DFSS is applied to improve each product's quality. Six Sigma tools prioritize the issues based on chosen criteria and sustain the focus of all concerned, as well as identify all the stakeholders and capture their needs. The DFSS tools ensure that the stakeholders' needs influence the design of the product and that these needs flow down to all of the life cycle activities.