What is Cost of Quality (CoQ)?

The Cost of Quality (CoQ) is a price tag on your project’s quality. Consider purchasing a more expensive but long-lasting backpack than a cheaper one that comes apart fast. CoQ is similar; it is the whole cost of ensuring that your project meets high standards. It comprises the costs of preventing mistakes (such as extensive testing), correcting faults (such as rework), and missing chances when quality isn’t up to par (such as losing clients). So it’s not just the money spent to make things right, but also what may be lost if things don’t go as planned.