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Cost of Quality (COQ)

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Cost of Quality (COQ) - definitions

Cost of Quality (COQ) - Another term for COPQ. It is considered by some to be synonymous with COPQ but is considered by others to be unique. While the two concepts emphasize the same ideas, some disagree as to which concept came first and which categories are included in each.

[Category=Quality ]

Source: American Society for Quality, 15 September 2010 09:23:18, External

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Cost Of Quality - The cost associated with the quality of a work product.

As defined by Crosby ("Quality Is Free"), Cost Of Quality (COQ) has two main components: Cost Of Conformance and Cost Of Non-Conformance (see respective definitions).

Cost of quality is the amount of money a business loses because its product or service was not done right in the first place. From fixing a warped piece on the assembly line to having to deal with a lawsuit because of a malfunctioning machine or a badly performed service, businesses lose money every day due to poor quality. For most businesses, this can run from 15 to 30 percent of their total costs.

[Category=Data Quality ]

Source: iSixSigma, 11 January 2011 09:16:39, External




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