RiskWizard® Professional (RiskWizard) is a state of the art toolbox for Lean, Lean Six Sigma, Design for Six Sigma (DFSS), and general business transformation. RiskWizard provides a rich feature set that has been tailored to meet the needs of project team members, Green Belts, Black Belts, master Black Belts, and Champions. RiskWizard allows for the seamless integration of the various tools required by business transformation technologists as well as for advanced analytical modeling capabilities utilizing measurement, simulation, and optimization. Users can maintain all of the templates, tools, and results necessary to complete their improvement projects within an easy to use Excel workbook. RiskWizard includes key tools such as:
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Lean Tools
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Queuing Analysis
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Variables Selection
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Control Plan
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Project Checklists
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Six Sigma Metrics
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Six Sigma Calculators
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Plots
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Basic Statistics
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Process Capability
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RiskWizard also provides advanced measurement systems and risk analysis as well as statistical tolerancing for Lean, Lean Six Sigma, and Design for Six Sigma (DFSS) applications. RiskWizard helps Six Sigma technologists, designers, process engineers and others assess the interactive effects of process variation, measurement error, and tolerance limits on product or process performance. The financial impact of these factors is computed and sensitivity analysis may be performed in order to make changes to affect the producibility of the system. RiskWizard allows users to create an initial design configuration and analyze the test and measurement performance in terms of standard metrics. It also allows the user to analyze actual test data to determine the true producibility of the product or process under study. There are two key measures involved in the assessment of the financial impact of test and measurement performance. They are the false failure rate and the false pass rate. RiskWizard computes these risks and provides an easy interface for entering production data. Finally, combining the risk and production data information, RiskWizard calculates the costs due to measurement system error. Traditional measures like Cpk and Gage R&R percent of tolerance do not provide a means of directly computing these costs and are limited in usefulness.
RiskWizard’s cost analysis provides financial performance information that is not provided by measurement routines in traditional statistical analysis software. RiskWizard offers the ability to perform true statistical tolerancing for a product not yet in existence. RiskWizard’s sensitivity analysis capability clearly identifies specific variables for focused improvement efforts. RiskWizard provides standard process capability and gage R&R metrics. RiskWizard allows the user to analyze measurement data from test systems which involve either single or multiple, correlated responses. RiskWizard allows the user to analyze both balanced or unbalanced designs, unlike the measurement routines in the standard statistical packages. Design effects can be random, fixed or a mixture of both thus providing a much more general methodology for assessing test and measurement, producibility and statistical tolerancing analyses, also unlike the standard statistical packages.