Lean six sigma project management a stakeholder management perspective
Purpose The purpose of this paper is to understand the success of Lean Six Sigma (LSS) in banking and financial services industry and to develop a structured stakeholders management model for successful LSS project management. Design/methodology/approach A two phase methodology is used. Phase 1 establishes the literature to understand two key process improvement methodologies Lean and Six Sigma and to derive synergies by their combination leading to success in banking and financial services. The literature also helps to recognize the importance of stakeholder management in LSS projects and to understand how it helps in accelerating change in organizations. Phase 2 of the methodology is based on the interviews conducted by 56 global LSS project managers. This is to understand the practical challenges faced by the LSS project managers in banking and financial services tying back to the existing literature. Findings The paper identifies the possible opportunities for structured stakeholder management.