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cost of error

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  • Cost of poor quality — (COPQ) or poor quality costs (PQC), are defined as costs that would disappear if systems, processes, and products were perfect. COPQ was popularized by IBM quality expert H. James Harrington in his 1987 book Poor Quality Costs.[1] COPQ is a… …   Wikipedia

  • Error management theory — Error Management is a theory that looks at history of cognitive biases throughout evolution. It was put forth by David Buss and Martie Haselton. Such biases and heuristics over the vast time line of evolutionary history could have only existed if …   Wikipedia

  • Cost–benefit analysis — (CBA), sometimes called benefit–cost analysis (BCA), is a systematic process for calculating and comparing benefits and costs of a project for two purposes: (1) to determine if it is a sound investment (justification/feasibility), (2) to see how… …   Wikipedia

  • Cost-benefit analysis — is a term that refers both to:* a formal discipline used to help appraise, or assess, the case for a project or proposal, which itself is a process known as project appraisal; and * an informal approach to making decisions of any kind. Under both …   Wikipedia

  • error — [er′ər] n. [ME & OFr errour < L error < errare: see ERR] 1. the state of believing what is untrue, incorrect, or wrong 2. a wrong belief; incorrect opinion 3. something incorrectly done through ignorance or carelessness; mistake 4. a… …   English World dictionary

  • Cost underestimation — is defined as the act of assessing the cost of a future venture lower than what actual cost turned out to be once the venture was implemented. Cost underestimation causes cost overrun. The main causes of cost underestimation are optimism bias and …   Wikipedia

  • Cost curve — In economics, a cost curve is a graph of the costs of production as a function of total quantity produced. In a free market economy, productively efficient firms use these curves to find the optimal point of production (minimising cost), and… …   Wikipedia

  • Cost — This article is about the economic concept. For the scientific organization, see COST. For uses of The Cost , see The Cost (disambiguation). Expenditure redirects here. For personal consumption expenditure, see Consumption (economics). In… …   Wikipedia

  • Cost overrun — A cost overrun, also known as a cost increase or budget overrun, is an unexpected cost incurred in excess of a budgeted amount due to an under estimation of the actual cost during budgeting. Cost overrun should be distinguished from cost… …   Wikipedia

  • error — I (New American Roget s College Thesaurus) Deviation from truth Nouns 1. error, fallacy; falsity (see falsehood), untruth; misconception, misapprehension, misunderstanding; inexactness, inaccuracy; anachronism; misconstruction, misinterpretation …   English dictionary for students

  • Soft error — In electronics and computing, an error is a signal or datum which is wrong. Errors may be caused by a defect, usually understood either to be a mistake in design or construction, or a broken component. A soft error is also a signal or datum which …   Wikipedia

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