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RiskWizard Software for Lean Six Sigma practitioners


RiskWizard is a proprietary software tool that helps Lean Six Sigma technologists, designers, process engineers and others assess the interactive effects of process variation, measurement error and tolerance limits on products or processes.

The financial impact of these factors may be computed and sensitivity analysis may be performed in order to make changes to increase the reliability 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 (alpha risk) and the false pass rate (beta risk). 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 Guage R&R, and percent of tolerance do not provide a means of directly computing these costs and are limited in usefulness.

A 30 day trial of RiskWizard is included in our Green and Black Belt courses. The full version can be purchased directly from us. Please contact us for more information.