It’s undeniable—if it’s profitable, then some level of risk is involved. What does that mean to you, the head executive or business owner? Well, since the risks won’t just disappear on their own, you have to learn how to successfully manage them in order to cut un-expected costs and maximize value.
Now I know what you’re probably thinking: I already focus on risk management. And you’re probably right. However, one thing we’ve learned in 17-plus years of PMO consulting experience is that the majority of companies don’t adequately plan for all business and project risks they incur. More specifically, more often than not, quality management is not included in regular risk planning.
Consider this experience: as a leading member of a customers’ PMO and working with all their partners, we discovered time and again that the significant contributing partners to the program did not have a stated quality management approach integrated into their methodology and procedures. Consequently, certain risks went undetected and unmitigated, providing the unfortunate opportunity for longer deliverable life cycles, higher costs, and lost value.
The solution? In the above cases, we worked with the PMO members to apply appropriate quality management approaches. It undoubtedly saved time and cost by preventing failures and unwelcomed surprises. In light of the solutions PMO consulting can provide, let’s take a moment to look at the base quality management framework that we would implement.
A Successful Framework for Quality Management
Before putting together a plan for quality management, you have to understand what successful quality management is. Quality management focuses not only on producing worthwhile products, but also on the means to achieve the desired level of quality. With that in mind, our quality management framework below defines the activities a project will perform in relation to overcome quality-related risks, including: planning, execution, monitoring, and control.
PMO Consulting’s framework consists of and performs:
- Quality Assurance — To achieve quality assurance, we outline project methods and templates which adhere to provided project standards and guidelines.
- Quality Control — As a means of managing quality and the risks involved, we institute phase reviews and perform deliverable signoffs, which identify preventative and improvement actions.
- Quality Support — Along the way we require 3rd party reviews and implement various checkpoints.
As you can see, the basic framework leaves little room for error in respect to product quality. And as with all business and product risks, the key to mitigation is careful preparation and strict adherence to well-planned procedures—procedures that are communicated to all parties involved and include constant reviews.
Need to Focus More on Quality Management?
Does your regular risk management include a targeted focus on quality control and assurance? If so, what does your framework look like? If not, what do you plan on doing to change it?
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