Question

The ROI for a project is a measurement metric that stands for _____ and is one of the methods used to measure the success of a Lean Six Sigma project.

Answer 1

Answer: Return on Investment

Explanation: Return on Investment (ROI) is a measurement metric used in projects which refers to the ratio of the net profit and investment cost. It measures how the profit realized from an investment compares to the actual cost of the investment. A low Return on Investment means profit realized doesn't measure considerably well with the cost of the investment while a high ROI shows that net profit compares favorably with the investment cost.

Return on Investment is also used to evaluate the success of a lean six sigma project which refers to a joint team effort aimed at enhancing performance by removing waste and reducing variation.