Benefits of quality
The benefits of quality in project performance are:
- Customer satisfaction: is the result of a quality product or project. If customers requirements or expectations are meet, the customer not only accepts the results without any ill feeling, but will return back for additional work, when need arises. They may refer new customers. .
- Cost reduction: Another benefit is reduction in costs. Quality processes can reduce wastes, improve efficiency and supplies which results in the project costing less than planned. As costs decrease, profits increase.
- Increased competitiveness: Quality products and services, better project performance and reduced cost directly results in increased competitiveness in the global market-place.
- Fulfillment of social and economic responsibilities: Competitiveness increases profit effecting global economy and gives an opportunity to employ more people a social responsibility.
- More number of jobs: W. Edwards Deming rightly stated "Improve quality, reduce costs, improve productivity, capture the market, stay in business, provide more jobs" .