Cost of Quality.

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This offering is for

• For Business Leaders and Middle Management wanting to identify cost reduction opportunities in their Process / Program / Business and implement Continuous Improvement initiatives.
• All Six sigma professionals (BB/MBB) to help them identify Process Improvement Opportunities, and quantify the costs post improvement in terms of Revenue and Cost Savings.

Learning

• Help understand the components (Prevention Costs, Appraisal Cost, Failure Costs) of Cost of Quality (COQ).
• Understand activities that are covered for each component of COQ and accordingly derive cost for each activity.
• Understand relationship between COQ components and Process Improvement Initiatives.
• Duration for session shall be for 4 hrs.

USP of the offering

• This is a non-standard program, with a potential to draw attention of Business Leaders who would be keen to reduce costs.

Benefits

• Voice of Business : Undertanding the Business Context for COQ.
• History & Definition of Cost of Quality (COQ).
• Understanding Iceberg of COQ – Visible & Hidden Costs.
• Components of Cost of Quality (Prevention, Appraisal, Failure).
• Activities related to each Component of COQ.
• Concept of 1:10:100 Rule.
• Optimum Cost of Quality Model.
• Approaches to reduce COQ.
• Overview to Quality Cost Models (PAF, Taguchi Loss Function, Cost Benefit Analysis).

Pre Requisite

• For Business Leaders, Middle Management, Six Sigma Practitioners (BB/MBB) who have an idea of cost estimation for their Process / Program / Business. Deriving components of Cost such as Cost of Service, Total Cost of Service, Cost Benefit Analysis etc.