Week 5 Lt Assignment Essay Example | Topics and Well Written Essays - 250 words

Week 5 Lt Assignment - Essay Example The processes involved in these improvements include renovation of machines, increased training of employees and establishment of 5S problem analysis team. A new process can be measured using various measurement techniques. Most of these techniques are statistical. One measurement technique is variation and standard deviation. This method determines the level of deviation of the outcome of new process from that of the old process. Returns on Investment (ROI) can also be used to measure the performance of the new process. This involves the measurement of the returns from the new process compared to its investment (Persse, 2006). The initial investment of the process including changes made to the old process is subtracted from the returns of the new process. ROI differs from the Variance and Standard Deviation because Variance and Standard Deviation compares the new process with the old process while the ROI only measures the performance of the new process. However, both measurement techniques show the level of success of the new project based on its performance after the changes to the old