Benefits of Project Quality Management
Let us now discuss the benefits of quality in project performance.
- Customer satisfaction: It is the result of a quality project and product. If customers expectations are exceeded, the customer will not only readily accept the product but may come back for additional work when need arises. Satisfied customers may refer new customers generating additional work.
- Reduced cost: Quality processes help in reducing waste, unnecessary work and rework. It improves efficiency and supplies resulting in actual cost of the project being less than planned. Reduced cost may mean increased profit or more sales to an existing customer within existing profit margins.
- Increased competitiveness: Quality products and services, better project performance and reduced cost directly results in increased competitiveness in the global market-place.
- Fulfilment of social and economic responsibilities: Competitiveness increases profit effecting global economy and gives an opportunity to employ more people a social responsibility.
- W.Edwards Deming rightly stated: "Improve quality, reduce costs, improve productivity , capture the market, stay in business, provide more jobs"