ASQ Six Sigma Green Belt – Blockchain 101

20. Hashing Overview

Certainty could be positive, uncertainty could be negative. Most of the time we associate risk with the negativity only but risk could be positive as well. So here I have a list of responses which you can take depending on the situation. Let’s talk about negative risk because most of the time we think risk as negative risk. So let’s understand these four strategies to deal with negative risk. The first is avoid. If you can avoid this altogether, that’s the best risk strategy. Can we avoid earthquake? No, we cannot avoid earthquake. Another example where we can avoid is let’s say it is snowing outside, there’s a lot of snow, roads are slippery and I have to go to office and there is a risk of having accident on the way. This is the risk if I have identified then one of the action could be avoid traveling from home to office that way I can work from home. So this is how you use avoid as a strategy to deal with negative risk. Second strategy will be to mitigate mitigate the impact or mitigate the probability. If somehow you can reduce the probability of something going wrong or you can reduce the impact of something going wrong, that will be mitigate. Third strategy is to transfer the risks to someone else.

Going back to the same example of traveling from home to office, I can buy insurance for the car which will transfer that risk from me to insurance agency. And the fourth strategy would be to accept the risk. Some risks are so small that you just need to live with that. Similar to negative risk strategies, there are four strategies for positive risk as well. So in negative risk we want to avoid something on the opposite, if there is a positive risk, we want to exploit that, we want to take full advantage of that coming to the mitigation on the negative side, mitigate means reducing the probability or reducing the impact of the risk. On the other hand, if this is a positive risk, if this risk will help us, then we want to enhance, we want to increase the probability or increase the impact. We want to make sure that that risk happens. Opposite of transfer is share.

So here if the risk is positive, instead of transferring that risk to someone else, we would like to share that. Let’s say if we got an order of 1 million units to be produced and I can just produce 100,000 units, then what I want to do is to address that positive risk. I will share that risk with some other partners, make partners and make use of that partnership to take benefit of that order. So that is share and then a positive accept in the negative risk is accept in the positive risk as well. There are some positive risk which are so small in nature you just leave them, you just accept them, don’t do anything. So these are four strategies for dealing with negative and four strategies for dealing with a positive risk.

21. Demo – Anders Hashing Demo

Once you have completed the project, you need to close that project. And this is what we will be talking in this topic, which is project closure. When you started the project, you started with the project charter because the project charter was the contract between you and the management. This was your mandate to do the project as a part of closure. The most important thing which you want to do is make sure that you have achieved all the objectives which were identified in the project charter. Let’s say you started with a mandate to reduce the defect rate in the welding from 4. 5% to 1%.

Whether you have achieved that or not, that is the most important thing in project closure, achieving the objectives which you identified in the project charter. Then another important thing as a part of project closure is that documents which need to be archived for future reference, have those been identified and archived because you might need those documents in future as well. So you need to archive that. That is another important thing as a part of project closure. Next important thing is lessons learned. Whatever project you do, Six Sigma project, or build a refinery, or build a road, or build a bridge, whatever project you are doing, this is one of the important thing that what lessons did you learn in that project.

So that next time, if you do a similar sort of a project, what you should be doing and what you should not be doing, that you need to list down document as a part of your project closure. List down what went well, all the positive things which went well, which you might want to repeat on your next project. Don’t think of lessons learned as a negative thing that you need to list down all the things which went bad. No, you need to list on both whatever went good, which was unexpected, which you didn’t plan.

So all those things you put as a positive lessons learned, and then you list on all things which went wrong, which you want to avoid in your next project. And then as a part of this, you need to look and see if there is any need to revise any work process which you have. So let’s say if you have a work process for doing Six Sigma projects, you have certain templates during your project. If you have learned that this particular template, this particular process, this particular flowchart doesn’t work, then you need to revise those documents so that your next project is better than what you have today. So with this, we complete the topic of project management basics.

22. Objective – Security in Blockchain and how addresses, public keys, and private

In addition to those seven basic quality tools, there were also seven management tools and these are those seven management tools which we are talking about here in this section and if you remember, we have already covered activity network diagrams as a part of project management. Now let’s go through each of these tools one by one. Let’s start with affinity diagram. The purpose of affinity diagram is to group ideas together or to organize large number of ideas into some natural groups. Whether you are doing brainstorming as a part of defined phase of the project or you are doing brainstorming to evaluate the solutions which you want to implement whatever phase of DMAC you are doing brainstorming, you can use this particular tool which is affinity diagram.

So whenever you do brainstorming you come out with a number of ideas. This tool helps you in organizing those ideas and the same thing applies to interviews or surveys as well. Let’s say if you have sent a survey to thousands of people asking them what could be improved in the project or the product which you are doing, then you will get a number of those ideas in the survey. Now, how do you group those ideas together so that you can take appropriate action on those things? This method which is Affinity diagram was developed by Kabakito Zero and this is the reason. This is also called as KJ method. Now let’s understand what this method involves or what this diagram is. So here I have brainstorming ideas which came out of my own internal brainstorming to improve the course quality. How do I make sure that my customers are satisfied with the courses which I am producing? So based on the brainstorming, I came out with a number of these things.

Let’s say we should have more quizzes. We should have course which is interactive. We should have things which are to the point we could have flashcard, we could have things which are easy to understand. It should cover the body of knowledge for ASQ it should have some quizzes practices, slides so all these ideas came during the brainstorming. Now, how do I organize these ideas? How do I make sense out of this? That is done by grouping them into some natural groups and how did I do that? So here is how I did that, in that I divided this into three broad categories. One is related to contents, another is related to how these contents are presented. And the third aspect was practice quizzes type of things which could be added to make the course more interactive.

And then what I did is I moved all those things, all those brainstorm ideas into these three groups. Now, how many groups you need to have? It all depends on the type of brainstorming you are doing. But don’t have so many groups. Try to combine them together. Some of these might not very perfectly fit into that. But make sure that you don’t have very large number of groups because if you have large number of groups then there is no point of grouping that. Now, once you have done this grouping, now it’s much better to take action on that, let’s say. When I’m talking about the content, I can see that how my contents should be. My content should be detailed to the point, easy to understand and it should cover the body of knowledge.