Project Risk Value and Quality Management

This study material provides insights into project risk value and quality management. It covers the concept of value management and different methods for managing project value. It also explores the main components of quality management and how they can be applied in a case study. The case study focuses on the National Program for IT in NHS and its challenges. Suitable for students studying project management and quality management courses.

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................................................................................................................................................6
CONCLUSION...........................................................................................................................................8
REFERENCES..........................................................................................................................................10

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.
Value of risk is mainly recognized as financial benefit that gain pursuing risk taking activity due
to which increment in value of shareholder is created(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 anaccumulation 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). The main aim of implementing
this feature is to develop a value for project that is plan for customers to provide them better

service and get high level of support. 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. In this value management is useful to overcome with the issue of information
technology failure, government failed to learnt lesson from past. 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.
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 can attain massive rewards if it is implemented robustly. 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%.
 Tangible returns on investment of among 20 and 40 instances the useful resource
dedication aren't untypical.
 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.
 Increased effectiveness via establishing and using finances, time and sources to best
effect, delivering higher environmental, social, economic and monetary outcomes.
 Enhanced competitiveness by facilitating technical and organizational innovation and
resource performance.

 Enhancing verbal exchange and efficiency via multi-disciplinary and multi-assignment
teamwork and focused collaboration.
Methods for managing project value in case of National program for IT in NHS (NPfIT)
Managing project value represented as a regular development process. Therefore, this
tool is not only useful to eliminating the cost but also effective for attaining aim in terms of
required quality of project product in overall project implementation process. In terms of national
program NHS the project is related to implementing information technology, in which the
product is electronic payment record system, online choose and book system etc. in this to
manage the project in efficient and effective manner risk play a major role at the time of
maintaining cost, quality and time that should be effectively addressed under the value
management methods. There are several methods of managing project value that are represented
below:
 Kanban method- It is one of the best methods for managing project value within an
organisation. It is a method that is used in lean manufacturing which look like a series
that is essential to visualize the workflow. Kanban is a technique that is used to manage
value of particular project by monitoring and managing projects to put emphasis on
continuous delivery without representing high burden on team(Damnjanovic and
Reinschmidt, 2020). This is a process that is highly supportive to an organisation project
team in managing the work more efficiently. Kanban is considered as visual card that
triggers action to supply and process needs from an external supplier or warehouse. In
context of NHS, the national program was conducted in information technology with the
budget of £6 billion. But at the time of implementing plan for information technology
NHS face several issues like unrealistic timetable, failure to test system, confidentiality
issue, too large projectto handle, lack of project management skill etc. due to which NHS
cannot deliver their services to people efficiently. In this the management of NHS focus
on using Kanban project management value method that visualize the cards related to
solving the issue that helps in reducing the idle time in implementing the information
technology tool for people so that they avail services easily and efficiently without facing
issue like more wait in examine records, queue in taking appointment with health care

taker. In this IT team of NHS could efficiently process the activities using Kanban
method of value project management because it maintains the all work in one place.
 Critical path method- It defines a cornerstone of project management that creates value
for the particular project. This method or technique focus on constructing the project
model that involves a list of task, duration of completing the task etc. Critical path
method is representing as a sequence to add value to longest overall duration. This
method is terms as a fast tracking task that is always around corner in any defined
project(Dandage, Rane and Mantha, 2021). The main aim of critical path method is to
eliminate or reduce the issue of delay by optimizing work in a proficient manner. This
technique is also useful to improve the efficiencies by breaking down deliverables into
sequences. In context of NHS where national program in information technology is
organized to solve the issue of people and offering quality services so that they enjoy
long term benefit. This technique is highly useful in manage the too large projects due to
which leadership of firm is affected. This issue was affected at the time of designing the
strategies i.e. implementation of information technology. In this manager can implement
the critical path method that helps in setting the time for every task under information
technology national program of NHS. This helps leader to manage the each and every
activity proficiently. Due to which institution also overcome the risk of failure and delays
that negatively impact the value of firm. Implementing this technique under NHS
information technology implementation maximize efficiencies that helps in calculating
float to deliver resources like electronic records system. Choose and book services etc. in
a better and proficient way so that every citizen got services in tremendous manner.
 Rational Unified process- It is a method of managing project value that is particularly
designed for software market where development of software is done to attain best
possible results(Lin and Huang, 2020). In this technique all the task is bifurcated into
small division for satisfy the end user so that high profits are enjoyed by company. In
context of NHS national program for information technology this technique or method is
highly useful because it helps in overcoming with the risk of handling big information
technology projects. This also useful in overtaken the new technology so that confidently
under projects is also maintained. With the help of this technique, NHS management
effectively overcome the project risk of delays, handling to big IT projects effectively and

represents more valuable project that provides benefits to clients and customers and helps
in satisfying with the institute services.
Define the main components of Quality management and describe how each component
can be applied in the case
Quality control is the act of overseeing all activities and tasks that must be performed to
maintain a desired degree of excellence. This includes the willpower of a great coverage,
developing and implementing first-rate making plans and assurance, and first-rate control and
exceptional development. Quality management is the act of overseeing distinct sports and duties
inside a business enterprise to make certain that services and products supplied, in addition to the
method used to provide them, are constant. It enables to attain and preserve a desired stage of
great in the business enterprise (Willumsen and et. al., 2019). The intention of first-rate control is
to make sure that all the agency’s stakeholders’ paintings collectively to enhance the enterprise’s
strategies, merchandise, offerings, and culture to attain the lengthy-time period achievement that
stems from patron delight. Quality management includes four key additives, which consist of the
subsequent:
Quality Planning– The method is used to identifying the quality requirements applicable
to the challenge and figuring out how to meet them. The first step of first-rate control is
planning. The management of the company wants to take some time to perceive their desires and
what they want their baseline to be. They should determine what their quality standards are, the
requirements necessary to satisfy those standards, and what tactics could be used to check that
those standards are being met
Quality Improvement– The practical trade of a technique is to enhance the self-belief or
reliability of the final results. This is the technique of bodily examining and trying out what the
firm laid out inside the strategy planning stage to make certain it is available. The management
of the company need to confirm that each one the standards they've got put into location are met,
and also they need to discover any mishaps or errors that need to be corrected. The quicker they
may seize those mistakes, the higher (Miguel, Madria and Polancos, 2019). As such, they should
be being attentive to all factors of the product, which include both the materials used and the
manner of setting them together. Once the inspection facts have been accumulated, it ought to be
displayed in a way that makes it smooth to research. They can create histograms, run charts, or

motive and impact displays, and then without difficulty share them thru their record control
software to make sure each person has get admission to them.
Quality Control– The continuing effort within project is to uphold a procedure’s integrity
and reliability in reaching an outcome. While great manipulate includes analyzing the actual
products or services within the area, excellent guarantee is reviewing the delivery system of
offerings or the fine management manufacturing of products. By analyzing their goods or
offerings at the source, they could capture mistakes earlier than they reach the customer. They
can also fine track their strategies to prevent mistakes in the destiny (Hillson and Simon, 2020).
When reviewing their product or service in the course of this degree of quality manages
management, they may want to follow these steps:
 Confirm that the entirety is operating because it became agreed upon during the high-
quality planning stage
 Measure how effective their pre-determined approaches are and verify that everyone
compliance desires are being met
To be powerful, first-rate assurance needs to be completed regularly through impartial
audits. For the satisfactory effects, have the audit finished via a 3rd-birthday party that is not
financially or emotionally invested in the outcome.
Quality Assurance– The systematic or deliberate actionis essential to offer enough
reliability in order that a specific service or product will meet the specified necessities. After
finishing the great manage system, the management of the establishment needs to very well
evaluate their findings and give them a way to improve their methods going forward. Quality
control is fruitless in case they aren't willing to make adjustments whilst they may be necessary.
The choice for persistent development is the goal for each a hit organization (Crispim, Silva and
Rego, 2019). So, gather all of their records, re-evaluate both the methods and the product usually
preserving compliance in mind—after which begin the nice manage management system once
more. With every cycle, they'll turn out to be with a better product, happier clients, and greater
income on their pocket.
These all elements of quality management can be applied by the management of NHS in
order to organise National Programme for IT. With the support of quality panning aspect, the

administration can make planning in order to main quality standards. Also, they can find out the
quality needs that applicable to the challenging and analysing how to meet them. This will also
support in dealing with the issues which faced by the venture in context of quality. Quality
improvement elements also support in quality management of NHS. With the assistance of this,
they can make development in the planning according to the situation and issue. For example,
the management of NHS face confronts regarding National Program for IT then they can also
make development in their plan so that the problem can be getting over in more developed
manner. Additionally, if the venture face issues regarding its services then with the support of
effective planning and making development in its quality services. Quality control aspect also
support in managing the quality of goods and services which is offered by NHS to its target
audiences or patients (Fernando and et. al., 2018). It is a process or set of procedures intended to
make sure that produced goods or performed service adheres to explained set of quality criteria
or meets the needs of the client. Quality assurance is way of preventing mistakes and defects in
provided services to client that explains as part of quality management centered on providing
confidence that quality requirements will be fulfilled. In NHS, these aspects can be applied by
the firm in order to assure the quality of services and produce better quality facilities to its
clients.
CONCLUSION
From the above report it is to be concluded that quality and value management is highly
essential to overcome the risk and enhancing the profitability within the business entity. This
report elucidates the concept of value management that represent it is highly beneficial for
company long term survival and gaining the use of information technology in twenty-century
within the NHS public sector organisation under the case of NPfIT. Further it demonstrate the
use of project value management methods such as Kanban methods, critical path method,
rational unified technique etc. that are useful to understand business needs of performing
organisation. It also useful in developing collaboration and communication with customers in
aorganisation so that high profitable results are on time frame. Further it involves components of
quality management that helps in managing quality while implementing strategy for firm long
term growth. In this quality planning, assurance, control and improvements are included that
helps in developing structure in gaining profits and revenues.

REFERENCES
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organizational maturity influence. International journal of managing projects in business.
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Miguel, A., Madria, W. and Polancos, R., 2019, April. Project management model: Integrating
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Online
The Four Main Components of A Quality Management System. 2021. [Online]. Available
Through: <https://info.docxellent.com/blog/main-components-quality-management>
Value Management in Projects – Definition and Goals. 2021. [Online].Avaiable through:
<https://mymanagementguide.com/value-management-in-projects-definition-and-goals/>