We are independent & ad-supported. We may earn a commission for purchases made through our links.

Advertiser Disclosure

Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.

How We Make Money

We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently from our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.

What Is Quantitative Project Management?

By Osmand Vitez
Updated May 16, 2024
Our promise to you
SmartCapitalMind is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At SmartCapitalMind, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

Quantitative project management is a review method that does not tend to use mathematical techniques. The two most common ways of engaging in this project management method is through quality and process performance standards. In short, quantitative project management is a form of gap analysis. Reviewers look at the quality and process performance standards and measure them against actual performance. This helps improve a company one piece at a time and in an overall manner as the individual projects work up to an aggregate level.

Quality performance standards can either be product or employee based, though the former is mostly likely the case. Owners and executives work with operational managers to set product quality standards for all goods or services produced. The best way to engage in quantitative project management here is to review a random sample of products. The quality reviewer then makes reports as to how well they matched up to expectations. Standards may change whenever necessary to improve product quality.

Employee performance standards are similar. Here, a company creates rules and guidelines for each employee position in the business. Many of the performance standards will improve the work of each individual in order to manage performance. Supervisors and managers then have the responsibility, as a form of quantitative project management, to ensure each employee works appropriately. Employee standards can change whenever quality improvements are necessary for the company’s goals and objectives.

Process performance standards for a quantitative project manager focus on the activities in a company. Many of these activities may fall under recommendations from the company’s accounting department. The individuals in this department review each project — and other items — from a monetary standpoint. Finding ways to improve processes in terms of cash expenditures and other methods are most common here. Managerial accountants tend to be those most responsible for this task.

Any method similar to these may be offshoots of quantitative project management. Individuals may have a sole job responsibility where they work only on gathering data and improving the many projects in a company’s control. In some cases, reviewers may look at projects individually and in total. The purpose for these reviews comes from the fact that some quality and process performance standards are only for specific projects, while other standards are for multiple projects. Ongoing reviews can help the company remain competitive in the business environment.

SmartCapitalMind is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.

Discussion Comments

SmartCapitalMind, in your inbox

Our latest articles, guides, and more, delivered daily.

SmartCapitalMind, in your inbox

Our latest articles, guides, and more, delivered daily.