Cost of Quality Worksheet

Purpose: To evaluate the true costs of a defect or error. This is the foundation of making a business case for the change.

QI Macros Cost of Quality Template for Excel

To Complete the Cost of Quality Worksheet

  1. Identify each step in the Fix-it process.
  2. Assign a time in minutes to each task and a loaded rate.
  3. Identify any material costs associated with each step.
  4. Identify any external costs of this failure.
  5. Identify any lost opportunity, asset, or business costs.
  6. Set a target for reducing the error (e.g., 50%)
  7. Estimate the total cost of achieving this level of prevention.
  8. Evaluate ROI and payback period.
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