DORA
EU regulation for digital operational resilience in financial sector
Six Sigma
De facto framework for data-driven defect reduction and variation minimization.
Quick Verdict
DORA mandates ICT resilience for EU financial firms against cyber threats, while Six Sigma is a voluntary methodology for defect reduction across industries. Financial entities adopt DORA for compliance; others use Six Sigma for process efficiency and cost savings.
DORA
Regulation (EU) 2022/2554, Digital Operational Resilience Act
Six Sigma
ISO 13053:2011 Six Sigma process improvement standard
Key Features
- DMAIC structured methodology for process improvement
- Belt hierarchy of trained practitioners and champions
- Sigma levels and 3.4 DPMO defect benchmark
- Tollgate reviews and governance controls
- Statistical tools like Gage R&R and DOE
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
DORA Details
What It Is
DORA (Regulation (EU) 2022/2554) is an EU regulation enhancing digital operational resilience in finance against ICT risks like cyberattacks. It targets 20 financial entity types and critical third-party providers across 27 member states, using a proactive, risk-based, proportional approach.
Key Components
- **ICT Risk ManagementFrameworks for identification, protection, detection, response, recovery.
- **Incident Reporting4-hour alerts, 72-hour updates, 1-month analyses for major events.
- **Resilience TestingAnnual basics, triennial TLPT.
- **Third-Party OversightDue diligence, monitoring, ESA supervision of CTPPs.
- **Information SharingThreat intelligence mechanisms.
Why Organizations Use It
Mandatory for compliance, avoiding 2% turnover fines. Bolsters resilience, reduces systemic risks, builds trust amid rising threats like ransomware (74% affected). Enables harmonized operations, cybersecurity innovation.
Implementation Overview
Gap analyses, policy development, tool deployment, training. Applies EU-wide to ~22,000 entities; full effect January 2025. Ongoing supervisory reporting, no formal certification.
Six Sigma Details
What It Is
Six Sigma is a de facto industry standard and disciplined methodology for process improvement, originating at Motorola in 1986, with partial formalization in ISO 13053:2011. It focuses on reducing process variation, preventing defects, and achieving high-quality levels (3.4 DPMO) through data-driven decisions. The core approach is the DMAIC cycle (Define, Measure, Analyze, Improve, Control) for existing processes and DMADV for new designs.
Key Components
- Structured DMAIC/DMADV phases with mandatory deliverables like project charters, SIPOC maps, and control plans.
- **Belt hierarchyChampions, Master Black Belts, Black Belts, Green Belts.
- Statistical tools (Gage R&R, DOE, SPC) and metrics (sigma levels, DPMO).
- Governance via tollgates, roles, and certification (e.g., ASQ CSSBB).
Why Organizations Use It
- Drives financial savings (e.g., GE $1B+), customer satisfaction, and risk reduction.
- Voluntary but strategic for competitiveness; integrates with Lean/ISO.
- Builds data-driven culture and leadership capability.
Implementation Overview
- Phased rollout: sponsorship, training, project portfolio, DMAIC execution.
- Applies to all sizes/industries; requires training, governance, audits.
- Certification via bodies like ASQ; ongoing sustainment via SPC.
Key Differences
| Aspect | DORA | Six Sigma |
|---|---|---|
| Scope | Digital operational resilience in finance | Process improvement and defect reduction |
| Industry | EU financial sector entities | All industries worldwide |
| Nature | Mandatory EU regulation | Voluntary methodology |
| Testing | Annual basic, triennial TLPT | DMAIC tollgates, capability analysis |
| Penalties | Up to 2% global turnover fines | No legal penalties |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about DORA and Six Sigma
DORA FAQ
Six Sigma FAQ
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