The Real Estate Industry May Need To Setup Its Own Parameters For Total Quality Management (Tqm)

Advocates of total quality management (TQM) believe in the myriad advantages a commercial undertaking would earn from its implementation. Among these gains on the corporate balance sheet are enhanced long-term business linkages, balanced and well-coordinated units, improved discipline and professionalism as well as upgraded skills in all facets of the business. Total quality management boosts openness in communications from top management down to the lowest tier in the organizational set-up, facilitating achievement of targets and objectives.

Image source: http://www.naiop.org

On the other hand, making TQM operational in service industries, particularly in real estate development, presents more challenges owing to the peculiarity of the product in every project cycle and short-term organizational structure that oversees the execution of a single process endeavor. A short-term bureaucracy, staffed by a transient manpower complement engaged through contracted labor dispersed in various locales, adds to the uniqueness of real estate business and makes TQM difficult to handle. Every project takes a diverse form, does not follow a typical administrative system, and has to be adjusted along with several factors affecting efficiency of completion, such as weather conditions.

Real estate development encompasses several phases, each undertaken under different schemes and stakeholders, such as agent services, brokers and contractors, complicating further total quality management supervision.

Such array of intricacies, however, does not denote impossibility in the utilization of TQM approach in real estate development. Experts in the field such as the Alta Development LLC may design novel parameters as well as modify several criteria and standards adapted to the nuances of the business.

Image source: http://realestate.trimble.com

Dr. Sassan Kimiavi, a resident of Bethesda, Maryland, is a seasoned serial entrepreneur and technical professional. Discover his company’s real estate projects on this website.

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