The American Society for Quality (ASQ) suggests that the Cost of Quality is usually around 15 - 20% of sales, often as high as 40% in some organizations. Clearly, you need to know what that means and how to prevent errors and omissions from hurting your business. Cost of Quality (COQ) is a measure of the cost an organization faces due to the production of substandard … [Read more...]
Project quality is a unique aspect of project management. The stakeholders are disappointed if the project does not meet the minimum quality standards, but achieving more than the standard is a waste of project resources and money. On top of that, the minimum quality standards are often difficult to define and subject to stakeholder whims, such as the tolerance levels … [Read more...]
I listened to a presentation recently where the speaker suggested that the highest quality producer is usually the lowest cost one. Can that be true? And if so, how do you become part of that club? The Cost of Quality (COQ), sometimes called Cost of Poor Quality (COPQ) is a measure of the cost of producing the quality of products to the minimum desirable level. Most … [Read more...]
Experience has taught me that the highest quality producer is quite often the lowest cost one. Say what? This is because of a factor called the Cost of Poor Quality, sometimes called Cost of Quality (COQ). Although production of high quality products and services usually requires an investment in equipment, people, or processes, the production of poor quality products … [Read more...]
In the engineering business, project quality is important. I've seen many projects that did everything right, but derailed based on one single issue the project team overlooked. Don't let that happen to you. The Project Management Institute (PMI) identifies project quality planning as the first of three steps to effective project quality management. In this post, I … [Read more...]
