The underperformance of key performance indicators and subsequent efforts to improve performance is reflected as cost of quality (COQ). ASQ TR 2:2018 is a useful COQ standard that provides detailed guidelines on COQ development, implementation and monitoring to improve quality and performance. Making use of this standard—in tandem with ISO 10014—can help organizations realize financial and economic benefits from their quality management system.
Read more in this month’s Standard Issues column, “Demystifying Cost of Quality.”