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failure cost

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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

  • cost of completion — n. In a breach of contract action, a measure of damages calculated by the amount it would cost to pay for a performance that would put the plaintiff where he or she would have been had the contract not been breached. The Essential Law Dictionary …   Law dictionary

  • 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

  • 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

  • Failure mode and effects analysis — A failure modes and effects analysis (FMEA) is a procedure for analysis of potential failure modes within a system for classification by severity or determination of the effect of failures on the system. It is widely used in manufacturing… …   Wikipedia

  • cost — {{Roman}}I.{{/Roman}} noun 1 money needed to buy sth ADJECTIVE ▪ considerable, high ▪ The high cost of energy was a problem for consumers. ▪ enormous, exorbitant, huge, prohibitive …   Collocations dictionary

  • cost of quality — The total costs of ensuring good quality or rectifying poor quality. Ultimately, by improving quality managers will reduce costs and improve profits. Four categories of costs are useful for this analysis: • prevention costs. These are the costs… …   Accounting dictionary

  • cost of quality — The total costs of ensuring good quality or rectifying poor quality. Ultimately, by improving quality managers will reduce costs and improve profits. Four categories of costs are useful for this analysis: • prevention costs. These are the costs… …   Big dictionary of business and management

  • cost of completion —    The amount of money required to finish a job when a contract has been breached by the failure to perform. For example, if a general contractor is in breach of contract by not finishing a house extension, the cost of completion is the actual… …   Business law dictionary

  • cost rule of damages — A rule of damages for breach of a building contract by failure to complete performance, under which reconstruction cost is the measure of damages. Shell v Schmidt, 164 Cal App 2d 350, 330 P2d 817, 76 ALR2d 792, cert den 359 US 959, 3 L Ed 2d 766 …   Ballentine's law dictionary

  • Market failure — is a concept within economic theory wherein the allocation of goods and services by a free market is not efficient. That is, there exists another conceivable outcome where a market participant may be made better off without making someone else… …   Wikipedia

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