6 Steps to Six Sigma

Written by Michael Nelson

Continued from page 1

Step 4

Now you must analyze all ofrepparttar data that has been collected so far and identifyrepparttar 149864 difference between perfection and your current operating efficiency level. The goal is to constantly closerepparttar 149865 gap betweenrepparttar 149866 two.

Again, as stated in Step 2, staff buy-in is extremely important. If management does not show a link between "total quality improvement" and "workplace improvement," then allrepparttar 149867 data collection will go to waste. The staff will not willingly takerepparttar 149868 extra steps (which often require harder, more detailed work) if they are not being rewarded. Some companies use bonuses to provide incentive, other companies offer prizes for attaining goals or add employee perks based on improvement levels.

Step 5

Now isrepparttar 149869 time for improvement. Changes in procedure and operations should have been in place, and more data should be collected to gaugerepparttar 149870 level of overall quality improvement. Eitherrepparttar 149871 hired consultants or an internal team of Six Sigma Black Belts should superviserepparttar 149872 data collection. Again, this step will be expensive. Gatheringrepparttar 149873 vast amount of data needed to accurately assess performance takes a great deal of time, resources, and capital. But without proper data and measurement, you will never know ifrepparttar 149874 changes are working or not.

Step 6

After improvement begins,repparttar 149875 constant chore of ongoing control must be monitored. Unforeseen variables will arise. Employees may turn over, competitors might introduce new products, your facility may undergo changes, and many other things could happen which will impactrepparttar 149876 overall quality of your business. Top level Black Belts need to be constantly analyzing data to gaugerepparttar 149877 impact of any future changes, spot possible trends, and formulate actions to keep onrepparttar 149878 path of consistent and eternal improvement.

If you're truely interested in the Principles of Six Sigma, check out the tons of news, articles, and information at Six Sigma Principles

Do You Speak Real Estate?

Written by Mark Walters

Continued from page 1

Escrow. A procedure in which documents or transfers of cash and property are put inrepparttar care of a qualified third party, other thanrepparttar 149862 buyer or seller.

FHA Financing. Financing for a loan which will be insured against loss byrepparttar 149863 Federal Housing Administration. Such financing allows for a lower down payment than required by most lenders.

Homeowners Insurance. Insurance that protectsrepparttar 149864 homeowner from casualty (losses or damage torepparttar 149865 home or personal property) and from liability (damages to other people or property). Required byrepparttar 149866 lender and usually included in repparttar 149867 monthly mortgage payment.

Loan Origination Fee. A fee charged byrepparttar 149868 lender for evaluating, preparing, and submitting a proposed mortgage loan.

Mortgage Insurance Premium (MIP). A charge paid byrepparttar 149869 borrower (usually as part ofrepparttar 149870 closing costs) to obtain financing, especially when making a down payment of less than 20 percent ofrepparttar 149871 purchase price, for example on an FHA-insured loan.

Point. An amount equal to one percent ofrepparttar 149872 principal amount being borrowed. The lender may chargerepparttar 149873 borrower several points in order to providerepparttar 149874 loan.

Property Taxes. Taxes (based onrepparttar 149875 assessed value ofrepparttar 149876 home) paid byrepparttar 149877 homeowner for community services such as schools, public works, and other costs of local government. Paid as a part ofrepparttar 149878 monthly mortgage payment.

Title Insurance. Protects lenders and homeowners against loss of their interest in property due to legal defects inrepparttar 149879 title.

VA Loan. A loan guaranteed byrepparttar 149880 Department of Veterans Affairs against loss torepparttar 149881 lender, and made through a private lender.

When it comes to real estate, now you can slingrepparttar 149882 lingo with repparttar 149883 best of them.

Mark Walters is an investor-entrepreneur helping other investors from his Web pages at http://www.Lease-Option-Sub2.com

    <Back to Page 1
ImproveHomeLife.com © 2005
Terms of Use