Lean Six Sigma Projects in Banking Firms—Implementation Cases

Abstract

This chapter presents three Lean Six Sigma (LSS) case studies to explain the application of LSS project management in Banking firms. By studying LSS project cases from three banks, this chapter presents lessons learned and implications. It concludes that the extent of applicability of LSS in Banking depends on the interest, rigor and scope of banking operations. It establishes LSS project management as merely a subset of LSS deployment in banks. Both, tangible and intangible benefits of LSS are evident in the consumer banking context from the above real-world case evidences. This chapter concludes with the affirmation that LSS needs to be understood using a systems perspective for moving away from a narrow project-only approach. An LSS project selection criterion is recommended. Further, important managerial implications discovered in this chapter include effective management of stakeholders and change leadership as essential elements of LSS project management in banks.