Customer value - measure for project management value, Project Management

Assignment Help:

Customer value

There is a considerable debate within the business world on whether the companies will have to deliver value for the shareholders or the customers. There are many techniques that give value to the customer. One such method used is the 'lean production'. The project duration and the cost are considered in the 'project-as-production system' terms, that is, the total project cost and the duration of the project are more important than the cost or the duration of any specific activity. The co-ordination is accomplished generally by the central schedule, while the details of the work-flow are managed through the organisation by the people who are aware of the project goals performance. The value to the customer and the throughput, the movement of the information or the materials to completion are the primary objectives. The improvements will result when wastes are reduced, where the difference between the present situation and the ideal situation which is defined as meeting the customer's distinctive needs in the least time.

The lean thinking focuses attention on how the value is generated by reducing the waste rather than how any one of the activity is managed.

Whereas, the traditional project management views the whole project as the combination of different activities, lean thinking views the entire project in a different way. It is considered as one large operation (the entire project).

For the organisations which sell products and provide services, metrics for estimating the impacts of the projects on the customers are required. The field of economics gives many different metrics for measuring the customer value which includes the concept of consumer surplus. The field of the market analysis has developed many customer satisfaction metrics. Another common approach is to adopt the metrics which will describe the particular product  or  service  characteristics  which  the  customer  will  care  about. Looking at the customer's point of view, the attributes of the product and the service quality and the price may be the chosen factors. While adopting such models, it should include the customer choice and also the market penetration models for predicting the dynamics of the new sales.


Related Discussions:- Customer value - measure for project management value

What are the disadvantages of division of labour, What are the Disadvantage...

What are the Disadvantages of Division of Labour? Disadvantages of Division of Labour are as follows: a. Division of labour provides rise to loss of craftsmanship, workers t

Life cycle objectives milestone, Submit all required artefacts necessary to...

Submit all required artefacts necessary to achieve the ‘Life Cycle Objectives Milestone' (LCOM). These are: A Vision document setting out the business objective and business cas

Project Planning Appraisal and Control, 2. Why Conflicts arise between two ...

2. Why Conflicts arise between two or more mutually exclusive projects? Analyse the situations where conflicts may arise and suggest how these conflicts can be resolved.

Process control, All processes are subject to various influences such as ...

All processes are subject to various influences such as mechanical electrical and environmental changes which is tend to deviate the process from its initial setting. The

Strategic internatic international business management, 1. Identify a poten...

1. Identify a potential target market for BNP Paribas’ retail banking’s future international expansion strategy

Earned value management is a systematic approach, Question: (a) Earned...

Question: (a) Earned Value Management is a systematic approach to the integration and measurement of cost, schedule, and technical accomplishments in a project. List the benef

5. Reduction in Length of Stay for Heart Failure & Shock Pat, ABOUT THE CAS...

ABOUT THE CASE STUDY. This explains about the case study in general, its purpose, the problem identified, and the proposed solution (500-word count) V. PROJECT MANAGEMENT INTEGRAT

Disadvantages of product layout - high overhead charges, Disadvantages of P...

Disadvantages of Product Layout - High Overhead charges Due to heavy investment, the overhead fixed charges also tend to be high. A decline in demand for the product will rend

Explain about the implementation phase, Explain about the implementation ph...

Explain about the implementation phase. Implementation phase: The project takes shape throughout the implementation phase. It includes the construction of the real projec

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd