Project Risk Value and Quality Management

PROJECT RISK VALUE AND
QUALITY MANAGEMENT 2

Table of Contents
INTRODUCTION...........................................................................................................................................3
MAIN BODY..................................................................................................................................................3
Define concept of value management and examine different methods for managing project value for
the case...................................................................................................................................................3
Define the main components of Quality management and describe how each component can be
applied in the case...................................................................................................................................7
CONCLUSION...............................................................................................................................................9
REFERENCES..............................................................................................................................................11

INTRODUCTION
Project quality management defines as a procedure that is used to manage and maintained
the quality throughout the project. Therefore quality means perfection and an organisation;
person needs to work while ensuring quality throughout the whole project. In terms of Value
management assist clients to recognize the manner of fulfilling overall needs of an organisation
(Pchelintsevaand et. al., 2020) (Lock, 2020). To complete this project the case of National
program for IT in NHS (NPfIT) is to be undertake that is a largest public sector IT program that
is mainly attempted in UK with in a budget of £6 billion for lifetime crucial contracts. In this
they face issues related to delays, stakeholder opposition, implementation issues. The main aim
of conducting this report is to implement use of IT in NHS using two crucial aspects. In this first
aspect considered concept of value management along with different methods for managing
project value for case. Further it also involves main components of quality management by
implementing each component within NHS case.
MAIN BODY
Define concept of value management and examine different methods for managing
project value for the case
Value management
Value management refers to an accumulation of planning methods and procedure that are
used to identify the prime balance of project benefits in terms of their cost and risk. Value
management is a process of planning, examine and developing the project for making a right
decisions related to optimized balance of benefits, cost and risk. Value management represents
the creation of sustainable value within project, process and product, social and organizational
level. This aspect is essential to maintain the desirable balance between needs and wants of
stakeholders along with organizing all types of resources to satisfy the overall beneficial needs
(Value Management in Projects – Definition and Goals, 2021). In terms of NHS national
program the use of value management is integrated with the implementation of information
technology by using electronic patient record system, online choose and book service,
computerized referral and prescription system. To overcome with this issues value management

project is highly beneficial that helps in eliminating the wastage of unnecessary costs and
expenses by reducing inefficiency and waste, by setting clear goals for stakeholders to specify
their needs so that business needs are to be attained within performing organisation.
According to “PMBOK” Value Management is an underlining idea carried out inside
existing management systems and techniques based totally on fee and characteristic-oriented
questioning, behaviors and methods, specially committed to motivating human beings,
developing abilities, selling synergies and innovation, with the goal of maximizing the general
performance of an business enterprise. Value Management is worried with the creation of
sustainable value, both at task, product, method, organizational or social degree. Value
Management can, if implemented efficiently, supply the subsequent benefits:
 Value Improvements, in excess of 20%, such as financial savings between 10 to 25%.
 Significant advantages in phrases of improved operating relationships and organisational
getting to know.
 Better commercial enterprise choices, “right first time”, which can be supported through
customers, customers and different stakeholders by means of supplying decision-makers
with a legitimate, obvious basis for their decisions.
 Enhanced competitiveness by facilitating technical and organizational innovation and
resource performance.
Defines the 4 steps of sense making process
There are 4 steps in sense making process that are demonstrated below in context of
NHS:
 Sense making is an ongoing process that helps in managing values within an
organization. This states that an individual person shape or react on the environment they
face. In case of NHS there is lack of culture that impacts employees not to work
effectively and efficiently due to this patients are effective in negative manner.
 Identify and identification is central- It is another step of sense-making process where
people thinks in their context shapes which shows how they interact events.