...1. Cost of Quality Analysis A focus on quality management demands that the total cost and benefits of quality performance be first understood by everyone in the company. In order to successfully launch a companywide Six Sigma, the first step is to dig out all relative cost categories that associated with managing quality and quality failures. The marketing research and other similar costs categories should all be included in the Cost of Quality (CoQ) analysis. 1.1 Identification of Cost Categories Based on Roberta’s current CoQ analysis, there are 18 cost categories with question marks that she either did not have data for or wasn’t sure about including. For the prevention costs, Roberta is having problem with the costs of marketing research, customer/user perception surveys/clinics, supplier quality planning, supplier quality planning, quality program planning and reporting, and other prevention costs. As mentioned earlier in the case, Roberta wasn’t sure how the marketing manager would feel about including marketing research as a category in the CoQ because it seems that marketing research as well as the customer perception surveys have no direct relation with preventing product defects. In fact, the fast development and introduction of new product is a key factor that differentiates Aqua Fun from their competitors in the same market. To ensure the quality of the new products before they are launched into the market, it is essential for the company to develop effective and...
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...ACC 227 WEEK 9 FINAL PROJECT COST ACCOUNTING ANALYSIS To purchase this visit here: http://www.nerdypupil.com/product/acc-227-week-9-final-project-cost-accounting-analysis/ Contact us at: nerdypupil@gmail.com ACC 227 WEEK 9 FINAL PROJECT COST ACCOUNTING ANALYSIS ACC 227 Week 9 Final Project Cost Accounting Analysis Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 227 Week 9 Final Project Cost Accounting Analysis in order to ace their studies. ACC 227 WEEK 9 FINAL PROJECT COST ACCOUNTING ANALYSIS To purchase this visit here: http://www.nerdypupil.com/product/acc-227-week-9-final-project-cost-accounting-analysis/ Contact us at: nerdypupil@gmail.com ACC 227 WEEK 9 FINAL PROJECT COST ACCOUNTING ANALYSIS ACC 227 Week 9 Final Project Cost Accounting Analysis Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 227 Week 9 Final Project Cost Accounting Analysis in order to ace their studies. ACC 227 WEEK 9 FINAL PROJECT COST ACCOUNTING ANALYSIS To purchase this visit here: http://www.nerdypupil.com/product/acc-227-week-9-final-project-cost-accounting-analysis/ Contact us at: nerdypupil@gmail.com ACC 227 WEEK 9 FINAL PROJECT COST ACCOUNTING ANALYSIS ACC 227 Week 9 Final Project Cost Accounting Analysis Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 227 Week 9 Final Project Cost Accounting Analysis in order to ace their studies. ACC...
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...controlled. Scope, schedule, and Cost, Change, and Configuration Management plans are created in this process and are part of the PM plan- Scope Management plan is developed here as well.| Project Scope Management | -Interviews -Focus Groups -Facilitated Workshops -Group Creativity Technique -Group decision making techniques -Questionnaires and Surveys -Observation(Job Shadowing) -Prototypes| Facilitated Workshops examples: JAD and Quality Function Deployment Group Creativity Technique examples: -Brainstorming -Nominal Group Technique: enhances brainstorming with voting process -Delphi Technique-Idea and Mind Mapping -Affinity Diagram: large numbers of ideas to be sorted into groups Group Decision making technique -Unanimity: everyone agrees on single course of action -Majority: support from more than 50% of the members of the group -Plurality: the largest block in a group decides even if a majority is not achieved -Dictatorship: one individual makes the decision for the group| Project Time Management| -Bottom- up Estimating -Expert Judgment -Alternative Analysis -Published Est. Data -PM Software| Bottom-up estimating: Breaking down complex activities into pieces. -Published Est. Data: Published data as books and journals -Alte. Analysis: means considering several different options for how to assign resources| Project Cost Management | -Analogous Estimating -Bottom-up Estimating -Parametric Estimating -Cost of Quality -Vendor Bid Analysis -Reserve Analysis -Expert Judgment -Three-point...
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...four departments like that job preparation, scanning assembly, output, quality control etc. The FOH expenses of company wages, depreciation ,rent and otherexpenses are allocated on basis of labor hours then we obtain overhead rate per labor hour.3-Exhibit include the job profit analysis. It shows net profitor loss of the company.It contains 26 jobs of colorscope company and it have separate revenue and ,material expenses. Profibility analysis of the job shows profit of thecompany of all jobs.4-Exhibit shows the whale curve analysis .The separate job have separate then we deducted all the expenses of particular job. It mens all the profit of particular job is cumulative of previous month.5-Exihibit shoows the rework of cost. Rework due to change in specification by customer. Rework the job due to occur large cost.2-Exhibit include the overhead drivers rate calculations. Itcontains four departments like that job preparation, scanning assembly, output, quality control etc. The FOH expenses of company wages, depreciation ,rent and otherexpenses are allocated on basis of labor hours then we obtain overhead rate per labor hour.3-Exhibit include the job profit analysis. It shows net profitor loss of the company.It contains 26 jobs of colorscope company and it have separate revenue and ,material expenses. Profibility analysis of the job shows profit of thecompany of all jobs.4-Exhibit shows the whale curve analysis .The separate job have separate then we deducted all the expenses of particular...
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...Quality Management Of Aqua-Fun ----Case 1 in Chapter 6 Team 4: Yudan Ding Wenqian Xu Xianjing Zhu Yukun Chen SCHM2301 Prof. Omar Elwakil 10/08/2013 Quality Management of Aqua-Fun 1. Cost of Quality Analysis A focus on quality management demands that the total cost and benefits of quality performance be first understood by everyone in the company. In order to successfully launch a companywide Six Sigma, the first step is to dig out all relative cost categories that associated with managing quality and quality failures. The marketing research and other similar costs categories should all be included in the Cost of Quality (CoQ) analysis. 1.1 Identification of Cost Categories Based on Roberta’s current CoQ analysis, there are 18 cost categories with question marks that she either did not have data for or wasn’t sure about including. For the prevention costs, Roberta is having problem with the costs of marketing research, customer/user perception surveys/clinics, supplier quality planning, supplier quality planning, quality program planning and reporting, and other prevention costs. As mentioned earlier in the case, Roberta wasn’t sure how the marketing manager would feel about including marketing research as a category in the CoQ because it seems that marketing research as well as the customer perception surveys have no direct relation with preventing product defects. In fact, the fast development and introduction of new product is a key factor that differentiates...
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...Financial Information and Quality Management—Is There a Role for Accountants? Leif M. Sjoblom Leif M. Sjoblom is a Professor at the International Institute for Management Development. SYNOPSIS: Different opinions exist with respect to the usefulness of financial information for operational decision making. While academics encourage the provision of accounting information on quality, few companies provide it. This article explores the usefulness (or lack thereof) of Cost of Quality (COQ) and quality-related financial information through the use of a survey and informal discussions and interviews with quality managers. Financial information can be used to flag quality problems, to select and prioritize quality improvement projects and to choose corrective action. The results suggest that financial information has a limited role in supporting these operational decisions. The limitations of current COQ systems, and the lack of relevant, reliable and timely financial information, are among the reasons cited for not using COQ. However, there is a perceived need for additional financial reporting in order to attract the attention of top management and to motivate managers. In order to make COQ more relevant to practitioners, future research must not only focus on improving and disseminating best practices, but also on the multi-disciplinary implementation process. Data Availability: Contact the author. INTRODUCTION Financial tools for quality, such as Cost of Quality1 (COQ), have attracted...
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...Abstract The Study of Customer Loyalty Factors in the Mobile Telecommunications Industry in China This article is a study of Chinese telecommunications service customer loyalty factors and the impact of the internal mechanism. The industry empirical study reveals the communications services industry, the impact factors of customer loyalty, and the interaction between these factors mechanism. With the increasingly fierce market competition and increase costs for customers, cultivate and maintain long-term customer loyalty is a business enterprise can be an important factor. On the one hand, enterprises have to get a good income, in addition to the core technology and improving product quality, but customer satisfaction, service quality and Enterprise Image will to some extent affect on customer loyalty, loyal customers are the main profit source. On the other hand, when supply exceeds demand in the market environment, the cost to acquire new customers than to maintain existing customer costs, but the profit contribution of new customers is far less than the original customer. Finally, the loyalty of customers through word of mouth to bring new business customers. Therefore, the development of customer loyalty strategies, research customer needs and maintain long-term two-way interaction with the customer relationship business and academia has been the focus of attention. Customer loyalty in the communications industry, more and more attention, is the communications business...
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...Quality Management includes the process in which determines the quality policies, objectives, and responsibilities performed so that the project will satisfy the needs for which it was undertaken. Implementation of the policies and procedures within the project’s context will ensure that the project and product requirements are met and validated (PMI, pg 227). It is also the ability to plan and control quality and performs quality assurance. If you include these processes in your Project Quality Management process, your will improve the quality of your current and future projects. The first process of Project Quality Management understands the scope and deliverables of the project. In order to give high quality to your customer or stakeholders, you must know their expectation of the service or product. The basic approach of quality management is compatible with ISO International Organization for Standardization quality standards. Every project should deliver quality to which a set of inherent characteristics fulfill requirements with a grade as a design intent assigned to deliverables having the same functional use but different technical characteristics. The project team will need to apply appropriate levels of accuracy and precision for use in the quality management plan. Applying ISO compatibility to quality management, you will need to take the approaches below: • Customer satisfaction –Customers expectations are met (PMI, pg 229). • Prevention over inspection...
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...THE COST OF QUALITY (Recent Concept) 1. CONSEQUENCES OF FAILURE TO MEET CUSTOMER (I & E) REQUIREMENTS ← Replacements ← Rectification – Reworks. ← Warranties Payments. ← Recall. ← Results in Loss of Money. 2. WHY HAS COSTS OF QUALITY CONCEPT NEGLECTED ← Lack of effective cost control system. ← Reluctance to change existing financial control systems. ← Most office and manufacturing processes produce defect levels around 20%. ← Twenty percent is accepted as the norm. ← No organized effort is made to change the situation until a ‘real’ quality problem is found. ← All efforts are then expended to solve the problem and return to the previously acceptable level. 3. ELEMENTS OF THE COST OF QUALITY (COQ) 1. Prevention Costs – Price of Conformance (POC) ← Expected costs of getting things right first time, always the first time. 2. Appraisal Costs – Inspection and Testing ← Inspection and testing required to some extent. ← Minimize. 3. Failure Costs – Price of Non-Conformance a) Internal Costs of Failures: ← Identified. ← Corrected. b) External ← Returned of defective/customers non-conforming products. ← Engineer/personnel...
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...Facility (Area of discussion- Cost & Quality) Team Members: Background Outline of project The Pittsburgh International Airport is owned and operated by the Allegheny County Department of Aviation. The new Midfield Terminal includes, Landside/central services bldg Airside building Gate capacity Provisions to expand - 500,000 sft 1,200,000 sft 75 aircraft 100 gate terminal. Pittsburg is the second busiest passenger airport in Pennsylvania and 47th-busiest in the United States, serving 8,041,357 passengers in 2012. Background Outline of project The airport has the longest runways of a commercial airport in Pennsylvania at 11,500 feet (3,500 m). Until 2004 US Airways largest hub was at PIT. PIT occupies more than 12,900 acres (52 km2), making it the fourthlargest airport by land area owned in the nation. The Midfield Terminal Energy Facility was designed to meet the requirement as: Ultimate cooling load of 9,100 tons Ultimate heating load of 113 x 106 Btuh Out Line of Project Outline of project The energy facility also provides electric power to the Midfield Terminal from the new substation located between the energy facility and the field-erected concrete cooling tower. Completion – 6 weeks ahead of schedule and within budgeted cost. Outline of project ??? Cost Quality Scope Management Outline of project Well defined scope and explicitly required quality removes building up of cost contingencies for unknowns by the...
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...The 9 knowledge Areas and the 42 Processes Based on the PMBoK® 4th Prepared by: Amr Miqdadi,PMP,MCSE amiqdadi@pmlead.net www.pmlead.net PMI®, PMP®, CAPM® and PMBOK® Guide are trademarks of the Project Management Institute, Inc. PMI® has not endorsed and did not participate in the development of this product. Integration Management Process Name Develop Project Charter Inputs Outputs Tools and Techniques Project Statement of Work Business Case Project Charter Experts Judgment Project Management Plan Experts Judgment Project Management Plan Approved Change Requests Deliverables Work Performance Information Experts Judgment Project Management Information System Enterprise Environmental Factors Change Requests Organizational Process Assets Project Management Plan Updates Contracts Enterprise Environmental Factors Organizational Process Assets Develop Project Management Plan Project Charter Outputs From Planning Processes Enterprise Environmental Factors Organizational Process Assets Direct and Manage Project Execution Project Document Updates Project Management Plan Performance Reports Change Requests Project Management Plan Updates Enterprise Environmental Factors Monitor and Control Project Work Experts Judgment Project Document Updates Organizational Process Assets Project Management Plan Work Performance Information Change Requests Status Updates Project Management...
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...October 1, 2013 FlexCon Piston Decision Perform a quantitative insourcing/outsourcing analysis using the data provided. What qualitative issues might affect your final decision? Identify any costs or issues that are not part of your analysis that might affect your decision. What is your recommendation regarding what FlexCon should do with its family of pistons? Support your arguments with evidence gathered during your analysis. FlexCon is a company that prides itself on the quality of its pistons. Lately they have been relying on suppliers for major components while manufacturing simple items with relatively small differentiation. By doing this, too much of their talent is going to waste leaving them with a big decision of whether to keep outsourcing or to insource. They are already heavily dependent on suppliers for critical components. The cost it takes to insource is greater than the cost to outsource but deciding to outsource may jeopardize their quality. One critical issue that affects the decision to outsource is whether to jeopardize their quality. It was said that by cross-training employees and putting them in teams, there was a 30% increase in quality and 20% gain in productivity when making the pistons. Gaining quality and productivity are definitely reasons to continue insourcing. If they did decide to outsource it would leave room for developing new products or expanding an existing product. Stated in their 6 key trends that...
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...Earth Baby Analysis | [Type the document subtitle] | | [Type the author name] | 4/2/2014 | Earth Baby, Inc. (EBI) is an organization that has created brand recognition from its quality products aimed at health-conscious parents. EBI has been approached by Great Deal, Inc. (GDI) to propose a joint venture. GDI wants to use the company’s superior distribution channels to sell EBI baby food that is manufactured and sold as a GDI product manufactured by EBI. Prior to making a decision on whether or not EBI should accept or deny the proposal from GDI, EBI must consider the results from a cost and strategic analysis that focus on the benefits and disadvantages from accepting or rejecting the proposal, both short-term and long-term. After careful assessment of the analysis, EBI will then have a clear view on how the proposal will affect the business and allow the organization to implement the best course of action. EBI’s Chief Financial Officer (CFO), Fred Stanley, has already provided initial calculations to assist in the decision-making process. The CFO has calculated a full cost of three dollars per jar of baby food for EBI to manufacture and distribute its own products. However, one dollar is calculated as irrelevant fixed overhead. The variable costs total two dollars per jar of baby food which are thee costs that EBI would be responsible for if it accepts the proposal from GDI. If the proposal is accepted, GDI will agree to pay EBI three dollars and ten cents per...
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...Developing a document that formally authorizes a project or phase. Documenting initial requirements that satisfy stakeholder's needs and expectations. Finalizing all activities across all Process Groups to formally complete the project or phase Project Management Plan Accepted Deliverables Organizational Process Assets Expert Judgment Tool & Techniques Outputs Inputs Inputs Project Statement of Work Business Case Contract (when applicable) Enterprise Environmental Factors Organizational Process Assets Tool & Techniques Outputs Expert Judgment 4.6 Close Project or Phase Closing Process Group 4.1 Develop Project Charter Initiating Process Group Final Product, Service, or Result Transition Organizational Process Assets Updates Project Charter Reviewing all change requests, approving, and managing changes to deliverables, org process assets, documents, and the PM Plan Project Management Plan Work Performance Information Change Requests Enterprise Environmental Factors Organizational Process Assets Expert Judgment Change Control Meetings Tool & Techniques Inputs Documenting actions necessary to define, prepare, integrate, and coordinate all other plans Project Charter Inputs Outputs from Planning Processes Enterprise Environmental Factors Organizational Process Assets Tool & Techniques Outputs Expert Judgment 4.5 Perform Integrated Change Control Monitoring & Controlling Process Group 4.2 Develop Project Management Plan Change Request Status Updates Project...
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...provide services, the structure and form of oversight and accountability to insure punishment is just and fair, and the measurement of cost and efficiency. To be sure, many of these issues are crucial even in the absence of a privatization debate. However, because there are impassioned proponents and opponents on both sides of the issue, the prison privatization literature has provoked both earnest debate and fractious polemic. One might expect that the importance of this topic would have elevated prison privatization research and encouraged the funding of large scale studies. In fact, there are very few studies comparing privately and publicly operated facilities. Segal and Moore (2002) identified about 23 U.S. cost comparison studies and fewer quality studies. Many of those studies were of questionable value. The most recent review, a meta-analysis by Lundahl et. al. (2009) only identified 12 studies of cost and quality meeting their criteria for sound methodology. Even with this limited set of privatization studies, different reviewers have come to opposing conclusions about what the research literature shows. Of the five reviews I cover, three conclude there is no difference between the cost and quality of private and public prisons, and two conclude private prisons are quite a bit cheaper to operate, and produce a similar level of quality. At the end of this...
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