Cost & Quality Management: Keys to Project Success - Essay Sample

Introduction

Cost and quality management are not sure guarantees of project success; however, they are forces that can prevent failure (Kim et al., 2012). In the context of this project, quality management forms the heart of the project deliverable, which will help to deliver "on plan" results that are designed to meet and exceed our customer needs and expectations. Cost in the current project comprises of the total costs required to produce, beauty care products as well as providing high-quality services to all customers, reaching to the standards that are set by project management professionals.

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The estimated costs amount to Php 2,000,000.00 for the entire project. This amount will cater for both conformance and nonconformance costs. The conformance costs will perform different activities that help the project in meeting quality requirements as well as avoiding it from collapsing (Farooq et al., 2017). It will include equipment and maintenance, planning, training, certification, human resources, quality assurance, and process controls. Nonconformance costs will cater to both internal and external failure costs due to any case of defective products or services.

Quality management, being a continuous process, will start and end with the project. It will be focusing on the improvement of the satisfaction of the stakeholder by continuously incrementing enhancements to processes, which will include the removal of redundant activities. As guided by our vision, the company will embrace the best reputation for expertise, reliability, and quality in the beauty care industry by developing mutual strengths using a solid teamwork spirit. The entire project team members, project manager, contractors, and site engineer will be working together towards the common goal of quality as well as the cost-effectiveness of the project. This will involve continuous education progression, underscoring, and inspiring teamwork, communication, professionalism, the spirit of workmanship, together with the meticulous participation of each member of the entire team.

In terms of quality risk mitigation, the contracts will be reviewed by a knowledgeable Attorney in ensuring that all of them are dependable and current. Site operations will also be monitored and risk assessment modified wherever will be essential.

References

Farooq, M. A., Kirchain, R., Novoa, H., & Araujo, A. (2017). Cost of quality: Evaluating cost-quality trade-offs for inspection strategies of manufacturing processes. International Journal of Production Economics, 188, 156-166. https://www.academia.edu/download/53340811/1-s2.0-S0925527317301135-main.pdf

Kim, D. Y., Kumar, V., & Kumar, U. (2012). Relationship between quality management practices and innovation. Journal of operations management, 30(4), 295-315. https://eclass.teicrete.gr/modules/document/file.php/DLH205/Total%20Quality%20Management%20and%20Innovation/InnovationRDandTechnologyatfirm-levelcompetitiveness.pdf