Simulation Products VentureCard™VentureCard™ has been designed fully to represent the departmental operations and processes involved in the processing, approval and activation of customer applications for credit cards. With typical cultural, operational, procedural and process issues built into the role-play game from the start, VentureCard™ serves as a practical case study to be used for training purposes. It provides students with the opportunity to run a Lean and/or a full Six Sigma DMAIC improvement project on the underlying credit card business in a realistic, but simulated environment, teaching them how to conduct such projects in real life when they return to their offices.VentureCard™recreates the front, middle and back offices of a credit card organisation belonging to a major bank. The business provides card application processing services on behalf of 3 high profile card brands – one for high net worth Private Clients, one for affluent professionals and the other for a vibrant internet based brand, focused specifically on a younger target market. The core process is paper based and involves KYC procedures and documentation, credit checking, the allocation of the credit limit, fee processing and the approval of the card application on behalf of the issuing brand. Whilst many of the organisational and process issues inherent in the processing unit are exaggerated, they are derived from real and typical issues found in most retail financial services companies. At the outset the business operates very poorly (at approximately 1 Sigma), has little understanding of the Voice of the Customer and the CTQs, and has poor MI to indicate why its performance is so bad. After implementing improvements through various rounds of the role play, superior performance levels of 4+ Sigma can be achieved, which in the real world would make the business a world-beater versus the competition. Recent students have been very impressed with the use of this role-play technique during the training courses. Course evaluation comments have included: “The simulation was fantastic! It really made the theory come to life and helped me learn and understand the DMAIC process”; “The simulation is vital for bringing Six Sigma to life. Definitely the best exercise I’ve seen on a course”; “The simulation was very realistic and brings a sense of achievement – it has given us a DMAIC success to build on, actually working through a “project” and making real use of the measurement tools and data analysis”; “The simulation was brilliantly run. It is a fantastic structured way to practice newly taught theory”; “The simulation was fun and illustrates the learning points well – it allows you to start thinking about how to apply this back in the live environment”. Other Simulation Products |
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Venturehaus Limited