The use of this model has provided a practical method to measure Perceived Customer Value according to the specific research case. This research has tested whether the perceived customer value of the terminal representatives receiving internal capital projects in the KwaZulu-Natal region of Transnet Port Terminals is more than 80% or not.
CHAPTER ONE
- I NTRODUCTION
- P ROLOGUE
- M OTIVATION FOR THE S TUDY
- F OCUS OF THE S TUDY
- P ROBLEM S TATEMENT
- O BJECTIVES
- R ESEARCH M ETHODOLOGY
- L IMITATIONS OF THE R ESEARCH
- S UMMARY
This research excludes the views of KMD to ensure that the study remains objective. The limitations of this research require careful questioning of the PCV construct in the context of the project management field.
CHAPTER TWO
I NTRODUCTION
T HE M ARKETING C ONCEPT OF V ALUE
- What Value Is
- The Difference between Value and Values
The customer perspective suggests that value is created by business offerings in accordance with customer perceptions (Graf and Maas, 2008). Value is about what the customer believes are their net gains or losses in the process of buying something (Johnson, 2007, Zeithaml, 1988, Huber and Herrmann, 2000).
T HE P ERCEIVED C USTOMER V ALUE D ISTINCTION
- Defining Perceived Customer Value
- PCV Approaches
It states that value is embedded in the object or relationship or means-end chains and is subjectively perceived by the customer. Behavior is about the customer's responsive actions derived from the experience of purchasing and consuming the product (Sanchez et al., 2004).
T HE C OMMON M ISPERCEPTIONS OF C USTOMER V ALUE
- Customer Satisfaction
- Value Management
- Perceived Quality
Although customer value and customer satisfaction share a causal relationship, they both have an impact on behavioral intentions or customer behavior (Korkman, 2006). However, customer satisfaction is not the only concept that has been mistakenly used to mean customer value.
T HE I NTERNAL C USTOMER D YNAMICS TO PCV
The supply department becomes an internal supplier to the production department, which in turn is an internal customer of the supply department. This internal supplier-customer relationship repeats itself through the internal value chain, all the way to the marketing department, which is the supplier to an external customer.
V ALUE THROUGH P ROJECTS AND P ROJECT MANAGEMENT
- The Project Definition
- The Project Management Philosophy
- Project Management Defined
- The Project Life-Cycle
- The Project Management Process
- The Role of a Project Manager
- The Project Management Practices
Third, planning the project activities is necessary to determine the total duration of the project. Fifth, achieving good quality in project delivery is fundamental to its success.
C APITAL P ROJECTS L INK TO PCV
The last pillar refers to the guidelines that will be used to create a plan that shows us how the project will unfold. The plan includes a strategic focus that will be incorporated into the mindset and behavior of the project team to maintain the spirit of winning the business battle.
M EASURING C USTOMER V ALUE
- Gale’s CVM
- Customer Value Analysis and the Finite Mixture Methodology
- The PERVAL System
- Smith and Colgate Balanced Scorecard
- The GLOVAL System
- Functional Value
- Social Value
- Emotional Value
- Review of the Measuring Tools
Functional value is a customer's logical and financial evaluation that includes product and service quality (Sanchez et al., 2004). It is based on the construct of economic utility realized from the properties of a product or service (Fiol et al., 2007, Ivanauskienė et al., 2012). Functional value of quality (FVQ) tells us whether quality is perceived as embedded in the product or service offered (Ivanauskienė et al., 2012).
T HE T HEORETICAL F IT BEHIND GLOVAL
The aim of this research will be to apply the broader theory on the projects discussed above to demonstrate coherence in the use of GLOVAL in the context of the field of project management in general.
S UMMARY
CHAPTER THREE
- I NTRODUCTION
- A IM AND O BJECTIVES OF THE R ESEARCH
- R ESPONDENTS AND L OCATION OF THE R ESEARCH
- D ATA C OLLECTION S TRATEGIES
- R ESEARCH D ESIGN AND M ETHODS
- Description and Purpose
- Pre-testing and Validation
- Administration of the Questionnaire
- A NALYSIS OF THE D ATA
- S UMMARY
In other words, the research sought to find the quantum of respondents who found PCV in the delivery of internal capital projects. Research projects are typically demanding in terms of the resources needed to complete them. The analysis of the questionnaire was done through the development and formulation of the PCV research case equation.
CHAPTER FOUR
I NTRODUCTION
S AMPLE P ROFILE
- Summary of Sample Profile Output
- Summary of Sample Profile Results
The sample showed that 54.7% of the respondents only participated in 4 projects or less, while 17% were involved in 5 to 9 projects and 18.9% had the experience of participating in 10 to 14 projects. In the sample tested, 43% of the respondents were involved in projects with budgets of more than R100 million, 15.4% participated in projects from R50 to 99 million and 21.2% participated in projects from R10 to 49 million participated. This suggests that the respondents surveyed were involved in projects that typically involved large capital expenditure and are therefore likely to be complex in nature.
F UNCTIONAL V ALUE OF E STABLISHMENT /D EPARTMENT (FVE)
- Summary of FVE Output
- Summary of FVE Results
On the first question (FVE1), the data showed that 40 of the respondents (75.5%) effectively agreed that the CPD has capacity to deliver projects (i.e. On FVE2, 46 of the respondents (83.3%) effectively agreed that the project methodology it enables delivery of capital projects Data from FVE5 indicated that 38 of the respondents (71.7%) effectively agreed that the CPD is accessible.
F UNCTIONAL V ALUE OF P ROJECT P ERSONNEL - P ROFESSIONALISM (FPP)
- Summary of FPP Output
- Summary of FPP Results
In FPP2, 42 respondents (79.2%) effectively agreed with the question that KMD staff had experience in their jobs. Question FPP4 revealed that 37 respondents (69.8%) effectively agreed with the question that the KMD staff made the project process smooth. This shows that the mean values tend to agree with the questions on the FPP regarding the likert scale value of 4.
F UNCTIONAL V ALUE OF Q UALITY - P RODUCT AND S ERVICES (FVQ)
- Summary of FVQ Output
- Summary of FVQ Results
The descriptive statistics in Table 4.9 indicated that the mean typically ranged from 3.42 to 4.06 for all the FPP figures. The PPP may need to take steps to change the perception that the project deliverables are not always. The descriptive statistics in Table 4.12 show that the mean typically ranged from 3.23 to 3.98 for all the FVQ figures.
F UNCTIONAL V ALUE OF P RICE (FVP)
- Summary of FVP Output
- Summary of FVP Results
The internal validity of the FVQ section of the questionnaire was 98.1%, as shown in Table 4.13. The internal validity of the FVP section of the questionnaire was 100% as shown in Table 4.16. The results of the 3 questions related to FVP therefore indicate that they reliably measure the third objective of this research, namely the determination of the functional value of the price of capital projects.
E MOTIONAL V ALUE (EV)
- Summary of EV Output
- Summary of EV Results
The descriptive statistics in Table 4.15 show that the mean generally ranged from a low 2.79 to 3.11 for all FVP grades. The descriptive statistics in Table 4.18 show that the average for all EV figures is generally between 3.45 and 3.85. The internal validity of the EV part of the questionnaire was 100%, as shown in Table 4.19.
S OCIAL VALUE (SV)
- Summary of SV Output
- Summary of SV Results
This shows that the mean values tended towards the agreed position for the EV questions, with respect to the likert scale value of 4. The descriptive statistics in Table 4.21 show that the mean usually ranged from a low of 3.94 to 4.15 for all SV figures. The internal validity of the SV section of the questionnaire was 100% as shown in Table 4.22.
PCV R ANKING
- Ranking Factors
- Ranking Ratios
- Summary of Output for Ranking Factors and Ratios
At values of 0.7 and above, Cronbach's alpha values are considered reliable and acceptable (Sekaran and Bougie, 2009). As discussed in Chapter Three, the mean values are used to calculate the PCV ranking factors, as shown in Table 4.25. As discussed in Chapter Three, the model representing PCV can be calculated by substituting the rank relationships into the PCV equation.
P ERCEIVED C USTOMER V ALUE
- Summary of PCV Output
- Summary of PCV Results
The data from Figure 4.8 shows the performance differences calculated based on each of the PCV dimensions. The performance levels of the six PCV dimensions allowed the six research objectives to be addressed and summarized in Table 4.26. Further consideration of the data from Figure 4.9 and the calculated mean and standard deviation figures in Table 4.27 show that the frequency distribution represents a normal sampling distribution.
S UMMARY
The FVQ questionnaire was tested for Cronbach Alpha, which was 0.772, demonstrating the internal reliability of the questions. Similarly, terminal representatives need to be more interested in the impact of costs on their viability as a result of project implementation. The representatives of the terminal stated that external parties have a positive opinion about the terminals due to the implemented projects.
CHAPTER FIVE
I NTRODUCTION
C ONCLUSIONS B ASED ON THE L ITERATURE R EVIEW
The project managers who execute projects must be armed with the relevant skills, competencies and professionalism to execute projects in a manner that can meet or exceed customer expectations (Patanakul and Shenhar, 2011). More importantly, it is necessary for project managers to be able to balance both items (Patanakul and Shenhar, 2011). To create value for its customers, offices (i.e. project management offices) must provide environmental conditions that promote the successful delivery of projects ( Sanchez et al., 2004 , Roig et al., 2006 , Ivanauskienė et al., 2012 ).
O BJECTIVE O NE (FVE)
The current research aimed to advance a methodology that not only quantifies the impact of PCV dimensions, but also measures it literally. Respondents agreed that they found value in only two of the five elements (namely project methodology and contribution to the organization) under FVE. These were the capacity to deliver projects, regardless of whether the DMK was representative of a modern Project Management Office, and the accessibility of the DMK.
O BJECTIVE T WO (FPP)
The CPD management team should monitor its staff's compliance during project progress phases to improve the service the terminals receive. To give the impression that CPD staff are keeping the project process running smoothly, it may be necessary to use internal communication tools to share more knowledge about the governance under which projects within TPT are managed.
O BJECTIVE T HREE (FVQ)
The correctness of the final results, the quality of the final results, the implementation of the project within the required period and the acceptability of the final results by the market seem questionable to a considerable number of respondents. Respondents showed some of the highest levels of disagreement and uncertainty when asked in this dimension. CPD should use an independent post-commissioning review to assess whether market unacceptability of results is due to incorrect scope, deviations from the scope agreed with terminal representatives, supplier design or build quality to determine the necessary actions.
O BJECTIVE F OUR (FVP)
O BJECTIVE F IVE (EV)
O BJECTIVE S IX (SV)
The CPD should analyze whether there are specific patterns between EV and terminals or departments. Although rated as the third least important, CPD performed best on this dimension. Recommendation: It is recommended that the implementation of the recommendations of other objectives will have a positive impact on the SV dimension.
C ONCLUSIONS ON THE R ESEARCH Q UESTION
However, its average value from the likert scale indicates that it has achieved 4.04 out of 5, and thus it has been judged to have achieved SV.
I MPLICATIONS OF THIS R ESEARCH
R ECOMMENDATIONS TO S OLVE THE R ESEARCH P ROBLEM
R ECOMMENDATIONS FOR F UTURE S TUDIES
S UMMARY
International Journal of Consumer Studies [online], vol. http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=27013877. A study on managers Suleyman Demirel University Journal of Faculty of Economics & Administrative Sciences [online], vol. http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=85967328. Building Research & Information [online], Vol. http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=10779918.
