Cost of Quality

Question

Define the term “Cost of Quality” and is ramifications or implications in the organization.

Answer 1

Cost of Quality (COQ) can be described as a financial number utilized by project management staff during the decision formulating procedure. Cost of Quality (COQ) does not imply the cost of offering quality provisions or goods; instead, it highlights the collective costs needed to bring inadequate quality goods or services up to the levels identified by project management. Moreover, in real meaning it is termed as the cost of being unsuccessful to offer a good or service of satisfactory primary quality.