All projects that an organization undertakes are linked to the organization's strategic plan. This plan is driven by the vision, goals, and objectives of the company. The process by which an organization prioritizes and selects its project is therefore a vital factor in ensuring its success. According to the University of Phoenix simulation (2009), a major factor that influences project selection, funding, resources, or priority is the extent of individual and organizational politics.
Usually the bank systems are designed to managing and organizing services, products, customers, and all of the actions are setup for the expediency of the bank till to satisfying the customers. In this case, there is a quality revolution taking place in both privet and public sectors. "The generic term that has evolved to describe this revolution is total quality management (TQM), or continuous improvement. "(Kotze ; DeCenzo, 2004) Total Quality Management (TQM) is implemented by which employees and management can become concerned in the continuous development of the production of goods or services.
In fact, "TQM is the way of life of an organization committed to customer satisfaction through continuous improvement. This way of life varies from organization to organization and one country to another but has certain essential principles which can be implemented to secure greater market share, increase profits and reduce cost" (Kanji, 1990) Total quality management expands the term customer beyond the traditionally definition to include everyone involved with the organization, either internally or externally - encompassing employees and suppliers as well as the people who buy the organization's products or services.
Order custom essay Project Management in the Business Environment with free plagiarism report
The objective is to create an organization commitment to continuous improvement. Project Description According to Goetsch (2003), no two total quality implementations will be the same. In Vancity Credit Union, the reason of quality management as a project is to make sure that the bank productivity is delivering fit to the purpose. If productivity is not fit to the purpose, there is a probability that planned project outcomes will not be realizing, or realizing to a much lesser than amount the organization wish to be.
It can be attained by increasing quality criteria for the outputs themselves and by making sure that all project management process in all departments and professionals are conducted in a quality manner. Hence, the TQM project in Vancity increases certainly and reduces the risk of project collapse. It involves a process for the management of changes, issues, problems and incidents that become known during the production of the outputs. The management of this kind of process could be different from each plan to plan.
Problem Statement In Vancity, such as any business, the livelihood is its customers. In fact, customers make a decision based on their sensitivity of service quality. In addition the customer includes not only outsiders who use the Vancity services, but also internal customers (such as shipping or account payable personnel) who interact with and serve others in the organization. In the short scale, quality verifies profits and customers alone define and determine what that quality is and should be.
Moreover "Total Quality Management" (TQM), which is about total client services and continuous client happiness and satisfaction, is not valid only in the manufacturing industry but in the service sector such as bank as well, where the client is just as significant. In fact, clients in the bank business are more insightful to service quality and service delivery than in manufacturing because they are all the time get in touch with front-line service personal, which is not the case with industrial unit workers.
These points of contact make a decision whether the client will come back or move to the other competitor for example TD Bank (Kotze & DeCenzo, 2004). Therefore, a good quality management is essential for improving baking competitiveness. A process is needed to develop and prioritize a portfolio of small projects that supports the mission of the organization (Larson, 2006). Vancity continues to set the highest standards for corporate accountability and transparency for financial institutions and other corporation in B.
C. and Canada (Vancity, 2009). Furthermore, Vancity frequently have surveys of its members by the phone or by mail to evaluate members' happiness which provides inputs to the service development and business planning processes of the cooperative, and as a means for measuring the success of its policies and programs and identifying areas for development. Consequently, the best justification for using the TQM method in Vancity is that it is designed to give it a sustainable competitive advantage in the banking marketplace.
Did you know that we have over 70,000 essays on 3,000 topics in our database?
Cite this page
Project Management in the Business Environment. (2018, Jul 25). Retrieved from https://phdessay.com/project-management-in-the-business-environment/