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Home > QFINANCE Dictionary > Definition of quality costs

Definition of

quality costs

Operations & Production

costs associated with failure to meet standards costs associated with the failure to achieve conformance to requirements. Quality costs accrue when organizations waste large sums of money because of carrying out the wrong tasks, or failing to perform the right tasks correctly the first time.

Related definitions of "quality costs"

Definitions of ’quality costs’ and meaning of ’quality costs’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’quality costs’ and other financial terms with our online QFINANCE Financial Dictionary.

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