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Cost of Quality: Finance for Continuous Improvement

Course ID QPC
Format Face-to-Face

The cost of quality is the price of the wasted resources your company suffers when it is not operating at top efficiency. Sometimes the amount of unnecessary expenses can cost as much as 25 percent of your sales. Learn to use cost of quality concepts to manage business improvement and maximize the bottom line.

Improve customer satisfaction, competitiveness, and financial performance by understanding the link between quality improvement and profits. Learn to select, manage, and strategically use cost of quality (CoQ) improvement projects within your organization. Surveys show a vast majority of companies either overlook or are unaware of the concept of CoQ. Quality costs (actual plus hidden) can amount to a large proportion of sales, often 25 percent or more. Learn to successfully use CoQ to help strategically manage your improvement projects with bottom-line results.

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Course Data

  • CEU Hours: 0
  • Length: 13 Hours
  • ASQ RU: 1.3
  • Audience: Practitioner
  • Provider: ASQ
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Course Overview

Learning Objectives:

  • Analyze and apply key cost of quality principles, including critical success factors.
  • Apply CoQ to different types of improvement initiatives and perform calculations regarding supplier CoQ.
  • Describe how project?based and systematic quality approaches support and benefit each other.
  • Use CoQ data collection and analysis strategies to meet business goals of reducing risks and lowering costs.
  • Identify key change leadership principles that can help enable CoQ implementations

Prerequisites:

This course assumes participants have some background in quality principles and terminologies. Participants should know something about cost allocation techniques, methods of estimating the value of partially processed product, and the transactional processes within their organizations.

Who Should Attend:

Professionals seeking to initiate cost-based measurement or improvement programs in their respective organizations or to add to their knowledge of effective measurement systems and quality standards would benefit from taking this course.

Outline
  1. Lesson One: Foundations of Cost of Quality
    1. Historical quality and cost of quality milestones
    2. Key change strategies and critical success factors that can assist efforts to implement cost of quality measures
    3. The cornerstone prevention, appraisal, and failure (PAF) model
    4. Characteristics of successful cost of quality implementations and links to continuous improvement
  2. Lesson Two: Applying Cost of Quality
    1. Applying CoQ to different types of quality initiatives
    2. Applying CoQ to different business environments
  3. Lesson Three: Blending Project-Based and Systematic Quality Approaches: How They Can Support and Benefit Each Other
  4. Collecting and Analyzing CoQ Data
    1. Reducing risk
    2. Lowering cost
    3. Other business objectives
  5. Using Cost of Quality for Continuous Improvement: Change Leadership Principles
Details

Detailed Course Description

This course is intended to provide participants the information needed to:

  • Learn to select, manage, and strategically use CoQ improvement projects within your organization.
  • Manage projects within your specific organizations.
  • Measure point-in-time CoQ by establishing a baseline and describing the value of CoQ to your organization’s leadership.
  • Apply the concepts and areas of CoQ and continuous quality improvement within your projects or organizations.
  • Improve customer satisfaction, competitiveness, and financial performance by understanding the link between quality improvement and profits.

Format

This is a two-day, instructor-led, face-to-face course.

Materials

Digital course content and Principles of Quality Costs Handbook are included in the purchase price of the course. 

Cancellation Policy
ASQ reserves the right to cancel or re-schedule courses and to change instructors. Please be advised that in the event of a course cancellation, ASQ is not responsible for airfare penalties or other travel related expenses you may incur.

If you need to cancel, we will refund your paid registration fee as noted below.

• Requests for cancellations/transfers/substitutions received at least 30 calendar days before the start of the course can receive a full refund/transfer/substitution. 
• There are no refunds within 30 calendar days before the start of the course. 
• Requests to transfer or substitute received between 29 and 10 calendar days of the course starting incur a $150 processing fee.
• There are no transfers within 9 calendar days before the start of the course.  Substitutes may be accepted if content has not been accessed by original registrant.  Substitutions will incur a $150 processing fee.  
• There are no refunds or substitutes if the content has been accessed. 
• Enrolled students who fail to attend their registered course without advance notice are liable for the entire course fee. Substitutes will not be accepted after the course has begun. 
• You must successfully complete the entire course or program before IACET CEUs and a Certificate of Completion can be awarded.
 
Instructors
Grace L. Duffy CMBB, CMQ/OE, CQA, CQIA, CSSGB
Douglas Wood CQE, CMQ/OE, CSSBB
Heather McCain CMQ/OE, CQE

Enrollment Details

Format: Classroom
Format: Face-to-Face

An instructor-led traditional classroom experience. Classroom-based instruction involves the highest level of instructor/student interaction. We offer classroom style training in two formats. See public and on-site.

May 05, 2023 - May 06, 2023 Philadelphia ILT1050 PA US Grace L. Duffy CMBB, CMQ/OE, CQA, CQIA, CSSGB English Early Bird Ends April 04, 2023 List: $1299.00     Member: $1099.00 Regular List: $1499     Member: $1269
Enroll
Friday: 8 AM - 4:30 PM 
Saturday: 8:00 AM - 4:00 PM 

 

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