TQM in Project Management - Is it achievable in Real Estate?
The real estate Industry is growing rapidly in terms of volume and size. Along with that, there is a growing need for higher standards of Product Quality and adherence to delivery timelines. At the same time, the profitability of developers is reducing everyday due to higher inflation. Moreover, the requirement for transparency and strict governance is getting louder.
On the contrary, we are seeing due to various reasons, more and more projects are getting delayed, non adherence to quality and safety standards and budgets are overrun, resulting in stalling of projects and ever growing litigation. This is affecting the overall industry as a whole in some form or the other. So what is the solution? Is it TQM? It surely is. But how TQM can be implemented in an organisation where the team is very lean and thin and there is a continuous organisational changes.. Already there is a concern regarding the work life balance.
- WIll the team be ready for that extra work to make TQM seamless.
- Will the developer, contractor and other stakeholders buy this idea and increase the requisite resources to make it work?
- Is it viable to implement a standard process across all projects and how is it going to change the organisation as a whole?
- Is it possible to implement a process which is followed across locations?
- Is it possible to have a platform which is not person specific so that organisational changes can not create a major effect?
- Is it possible to have a greater control and at the same time need lesser effort?
To solve the aforesaid macro issues, we need an approach to drive TQM through all stakeholders, enable satellite monitoring and provide real time data at fingertips . A collaborative and coordinated software platform, which will enable data collection from source, process it, analyse it and notify all stakeholders what they need to do, as per their roles and responsibilities. We need a platform where Time, Cost and Team can be brought together and monitored in tandem. The platform also needs to have an active change management system, which allows all connected modules to undergo necessary changes and gives the right picture across the platform. Risk management also needs to be an integral part of the system, so that the team can feel empowered and actually mitigate the issues well ahead of time.
To know more about the solution connect with https://plannerfy.com.
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