Different companies have to deal with different types of projects. One thing common in all those projects are the problems. In this world, no system will give 100% efficiency so in every project there will be some problems as well. This is the reason why most of the companies and higher authorities use different project management techniques.
These project management techniques are mostly focused on meeting deadlines and customers’ requirements. Although most of them are getting the job one, all of them are not very efficient. This is because a lot of important factors are being ignored there.
However, with Lean Project Management not only the project is managed, but it is also done efficiently that helps in increasing the profits. Here we will discuss how.
Applying lean management can be easily done in the form of some simple steps. Here all of them are discussed in detail.
Know the value of your product from the customers’ perspective.
The very first step is to identify the product from the perspective of a customer. As you are doing this as a manager, you will know what brings value to your product as a customer and how much are the customers willing to pay. The best way of doing this is that you compare the price mentioned by the customers with the features and other properties as a customer’s perspective.
Doing this can include the following things.
- Determining the quality of the final product.
- Exploring the ways of making the product better.
- Identification of the best features for the customers’ needs.
Another thing that will be needed to do here is to think about the waste. When you reduce waste, the benefits automatically increase. That is the reason that separates other project management methods from this method. For reducing waste, when you are thinking as a customer, you must think if the features or functionalities seem to be useless or less efficient.
Getting rid of them will mean that you are producing less waste and making more profit.
Create a value stream map.
The next thing that you will need to do is to make a continuous workflow. This is something that you do in all project management methods. What sets Lean Project management apart is that here you will not only make the project timeline, but you will also look for the steps and things that are less useful.
By getting rid of them or adjusting them somewhere else, you will be able to decrease some steps from your willow map. This will not only reduce the working time, but it will also increase the benefit by reducing waste.
Continuous workflow methodology.
Now you know about all the necessary features and things and those all are present in your map. The only thing left to do is to make a continuous workflow methodology for following that map. This methodology will ensure that there are no errors or unwanted circumstances that are causing a delay in the map plan. Here is how you can deal with any type of interruptions in your system.
1. Inventory.
The inventory space not only increases costs by adding saving costs to the final price, but it also causes a mismanagement in the price of the product when the cost of something in your stock changes. So, the best practice is not to stock a lot of stuff. This will help in easier management and better prices with more profit for the final product.
2. Waiting.
Time is a very important thing. Whenever the work on a specific project is paused due to any reason, time is being wasted and this is known as the waste of waiting. When planning our project, you must plan it in such a way that the waste of waiting is almost 0.
3. Defects.
Defects in a product are one of the worst types of wastes. This is because the waste not only causes waste of a lot of time, but also workforce and resources. This is because defects need you to rework on a project and sometimes you have to start from scrap. This can be a disaster for the manufacturer just because of unclear data or inefficient communication.
4. Overproduction.
Overproduction, any product not only means that you are wasting a lot of resources, but it also means that you are also creating all the other 6 types of wastes discussed here. This is because when something is produced, the customer will only take the desired amount. The rest of the production will only be a waste of material for you, and this will only be because of unnecessary information.
5. Motion.
This is a waste where employees are wasting their time and energy on irrelevant things. This can even be an employee looking for a set of instructions. This can be reduced when the employees are needed to move as little as possible for anything except their work.
6. Transportation.
Transportation is a great waste when it is done without adding its cause in the final product. When you are making something, you must consider the price of even a needle that is being used for the manufacturing and then decide the final price. This will be very helpful in the reduction of production wastes.
7. Over-Processing.
Over-processing is the situation where the workforce needed is increased. The reason behind this is that there are unnecessary features in the product that are not even asked by the customer. The best way to reduce this waste is by carefully approving everything included in a product.
When working on a project, one of these or any of these can be the reason for creating waste in your product.
This is the reason why eliminating these are very important while designing a continuous workflow model. Doing this will make the process of working on your project stable and predictable which will be easier to manage.
Pull system.
What is Lean Project Management, and what is the pull system in it, if this is your concern then you will be glad to know that the pull system is one of the best things about Lean Project Management. Pull system means that no work will be started unless there is a requirement or need for it to be done by the client.
This is a very efficient way of reducing waste as nothing unnecessary will be under process. Another amazing thing about the pull system is that you can select the task when you can do it and you can start working on it. This is better than wasting some time and then waiting for the tasks to be imposed on you.
Improvement on a continuous base.
This is the last principle of Lean Project management. This implements because of all of the previous principles where you have been working on reducing all kinds of waste from the manufacturing process. As you are reducing waste and planning your projects efficiently, you will be able to get on the road of continuous improvement.
This is because in the future project you will be flowing the principles of Lean Project Management.
What are some of the benefits of applying Lean Project Management?
Now that we have answered what is Lean Project Management, this is the time to tell you about some benefits of using this method in your business. So, here we will discuss some of the benefits of using the Lean Project management Method for your business.
Less lead times.
When you have got all the things and events planned at your end, you also take care of the interruptions that can come in your way. However, by using the principles of the Lean Project Management method, you will plan efficiently, and this will reduce the lead times making you meet the deadlines easier.
Less storage cost.
Stocking resources is something that increases the cost of production without you knowing. This is because most of the manufacturers use the storage space for stocking resources but when they are planning the price, they neglect this amount.
This can be very bad for your overall profit. With lean Project Management techniques, you will not be stocking up on a lot of unnecessary resources. This will be very beneficial for cutting up on storage costs.
Less cost for making the final product thus more profit.
By considering all of the unnecessary wastes and removing them from your production, you will not only create a feasible price for the customer, but you will also make a relatively better price and profit for your company.
Better efficiency with great quality.
By getting rid of all the things that are added to the waste, you will be making the manufacturing process efficient and this will also be maintaining the quality that is great for your product.
Satisfied customer.
Working on things that matter and removing things that act as a waste will make the product more productive for the customers. This doing this will leave you with satisfied customers.
These were some of the benefits of what is Lean Project Management and how it can be beneficial for a business.
Conclusion.
Most of the time people do not know what is Lean Project Management. IF you are one of them, this article will be more than enough to enlighten the features of Lean Project management and its benefits for your business.
