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Quality costs. In process improvement efforts, quality costs tite or cost of quality (sometimes abbreviated CoQ or COQ[1]) is a means to quantify the total cost of quality -related efforts and deficiencies. It was first described by Armand V. Feigenbaum in a 1956 Harvard Business Review article.
Cost of poor quality. Cost of poor quality (COPQ) or poor quality costs (PQC) or cost of nonquality, are costs that would disappear if systems, processes, and products were perfect. COPQ was popularized by IBM quality expert H. James Harrington in his 1987 book Poor-Quality Cost. [1] COPQ is a refinement of the concept of quality costs.
[2] [3] Martin Barnes (1968) proposed a project cost model based on cost, time and resources (CTR) in his PhD thesis and in 1969, he designed a course entitled "Time and Cost in Contract Control" in which he drew a triangle with each apex representing cost, time and quality (CTQ). [4] Later, he expanded quality with performance, becoming CTP.
Quality, cost, delivery (QCD), sometimes expanded to quality, cost, delivery, morale, safety (QCDMS), [1] is a management approach originally developed by the British automotive industry. [2] QCD assess different components of the production process and provides feedback in the form of facts and figures that help managers make logical decisions ...
e. Cost of goods sold (COGS) is the carrying value of goods sold during a particular period. Costs are associated with particular goods using one of the several formulas, including specific identification, first-in first-out (FIFO), or average cost. Costs include all costs of purchase, costs of conversion and other costs that are incurred in ...
Cost management: As in any other fields of engineering, a software product or service governed by good software quality costs less to maintain, is easier to understand and can change more cost-effective in response to pressing business needs. [27]
In business, engineering, and manufacturing, quality – or high quality – has a pragmatic interpretation as the non-inferiority or superiority of something (goods or services); it is also defined as being suitable for the intended purpose (fitness for purpose) while satisfying customer expectations. Quality is a perceptual, conditional, and ...
Quality assurance. Quality assurance (QA) is the term used in both manufacturing and service industries to describe the systematic efforts taken to assure that the product (s) delivered to customer (s) meet with the contractual and other agreed upon performance, design, reliability, and maintainability expectations of that customer.