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Chartered Quality Institute

Quality Insider

Partnership Announced to Investigate ROI on QMS in Business

CQI and CMI will collaborate and report their findings later this year

Published: Wednesday, February 1, 2012 - 11:25

(CQI: London) -- The Chartered Quality Institute (CQI) and Chartered Management Institute (CMI) are joining forces to investigate the use of quality management systems (QMS) and their return on investment.

As the United Kingdom embarks on another year of economic uncertainty, employers and businesses are nervous about what 2012 has in store. The joint research, due to be published during the first half of 2012, will provide certainty on the cost benefits of a QMS in such uncertain times.

Both organizations signed a memorandum of understanding to cement the new partnership created to explore the current types of QMS used widely by businesses in the United Kingdom. Additionally, together they will look at how these processes lead to increased productivity and performance through a sustainable approach to delivery.

At the signing of the agreement, the chief executives of the organizations shared their thoughts.

“We’re delighted to be working together with the CMI to spread the message about the vital role that quality management plays in building more productive, efficient, and sustainable organizations,” says Simon Feary, chief executive of CQI. “The research that we are conducting together will, for the first time, attribute an economic value to quality management, in terms of its return on investment for organizations and the wider UK economy. Given the stark economic realities everyone is facing, demonstrating how by using quality management systems we can all do things better, for less, and become more competitive as a result, couldn’t come at more critical time.”

“In a tough economic climate, businesses will look to reduce budgets where they can,” says Christopher Kinsella, acting chief executive of CMI. “Any organization, be it private or public, will be reviewing their return on investment on any spending decisions they make. Redundancy and an economic struggle leads to more stress in the workplace and managers being overworked, yet in many instances they are still expected to deliver the same levels of productivity. This leads to a culture of cutting corners, thus reducing the quality of products and services unless manageable processes and protocols are in place. We are delighted to be working alongside the CQI to investigate quality management systems in more detail and work together to highlight what works most effectively in this area—especially given the forecast for businesses and managers in 2012.”

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Chartered Quality Institute

The Chartered Quality Institute exists to benefit the public by advancing education in, and knowledge and the practice of, quality in industry, commerce, and public and voluntary sectors. It promotes the quality management approach, based on planning, measurement, and improvement.