Owners

Facilitsates the functional leadership and own the implementation of Six Sigma at the functional level
 
Lead the change, Identify opportunities to scope and deliver benefits, Stay with project through control phase.

Output

The result of a process. The deliverables of the process; such as products, services, processes, plans, and resources.

Outliers

A data point that does not fit a model because of an erroneous reading or some other abnormal situation.

Outlier

An outlier is a data point that is located far from the rest of the data. Given a mean and standard deviation, a statistical distribution expects data points to fall within a specific range. Those that do not are called outliers and should be investigated

outcome

a possible result from an experiment.  It may also be referred to as a basic outcome.

out of control(of a process)

a process is said to be out of control if it exhibits variations larger than control limits, or shows a systematic pattern of variation.

Optimization

Adjusting the system or process inputs to produce the best possible average response with minimum variability.

Opportunity

Any area within a product, process, service, or other system where a defect could be produced or where you fail to achieve the ideal product in the eyes of the customer. In a product, the areas where defects could be produced are the parts or connection of parts within the product. In a process, the areas are the value added process steps. If the process step is not value added, such as an inspection step, then it is not considered an opportunity.

An opportunity is anything that you inspect, measure, or test on a unit that provides a chance of allowing a defect.

One at a time experiment

An individual tries to fix a problem by making a change and then executing a test. Depending on the findings, something else may need to be tried. This cycle is repeated indefinitely.

O.E.E.

O.E.E. means overall equipment effectiveness.It is a method to find out overall effectiveness of equipment. It is obtained by multiplication of three ratios.
1. Availability ratio - Time for which equipment was available for operation divided by total calender period for which O.E.E. is being calculated.
2. Quality Ratio - Quantity of "A" grade/Prime grade material produced divided by total production (Off grade+Prime grade)
3.Performance Ratio - Rate of production divided by Capacity of machine to produced.

Normaly O.E.E. is presented in terms of percentage.

O.C.T. - Operation Cost Target

This value represents the maximum expenditure for material, labor, outsourcing, overhead, and all other costs associated with that project. This figure can then be divided between the various operations comprising the manufacturing process, in order to control costs at each step.