Reducing waste while improving a manager’s ability to make decisions is the basis of Lean project management. This methodology is the result of using Lean manufacturing principle that became mainstream in the 1990s. Organizations using Lean project management have enjoyed a number of benefits. Here are some of them.
Lean project management leads to end products that give customers more value and increases customer satisfaction. This is thanks to the fact that this methodology gives managers greater options and control to meet and/or exceed the customer’s expectations.
Projects are Completed Faster
In Lean project management, managers spend less time trying to put out fires with each project they undertake. The end result? Subsequent projects are delivered in a shorter amount of time thanks to the knowledge the managers gained from working on previous projects.
Every stakeholder in the project is aware of the project’s status with Lean project management. They know all the deliverables, who is responsible for each task, which tasks are a priority, what the risks are and what the short and long-term goals of the organization are. This leads to better coordination between teams members and better workflow to deliver value to the customer.
Makes people happier
If a project is going smoothly, everyone is happy to do the work. When everyone is happy to do their work, they do their best work. Their best work makes customers happy since they get value, which also makes those working on the product happy. For this to happen, every step taken in the process must add value and people shouldn’t be wasting time trying to solve an increasing number of problems.
By reducing waste, costs go down and customers get their products faster, meaning organizations make money faster. The more time is being wasted, the more organizations are losing money instead of making it. When costs are minimized and customers get their products quickly, that’s when profits are realized.