Friday Nov 3rd
Lunch & Learn: Using the “Red Bead Experiment” to Clarify Best Use of Performance Metrics (Open to all attendees) (Until 12:35pm)
In Eric Ries’s books, he cites and mentions W. Edwards Deming, the American statistician and management guru who was deeply influential to Toyota and other companies around the world.
One of Dr. Deming’s key lessons was the need to understand variation when looking at performance measures and evaluating individuals. How do we separate signal from noise in our view of performance? How can we avoid overreacting to every up and down in our results? How can we stop wasting time searching for root causes and special explanations for the effect of “common cause variation” in a system?
Deming’s famed “Red Bead Experiment” is a hands-on way to understand these principles in fun and practical ways. During this Lunch & Learn, you’ll have the chance to participate in this exercise, to learn from observing and reflecting upon some of the silly things executives and managers do in their attempts to cajole better performance out of a bad system.
Lunch will provided by Sam’s Chowder House. You may go out to the food trucks if you prefer that option to the lunch being provided (there will be two food trucks parked outside The Warfield for easy access). All lunches will have vegetarian options. This session starts 15 minutes after lunch begins.