Cost Management Chapter 17 Exam Questions with Complete Answers Latest Update (Already Passed)
Total Quality Management - Answers The unyielding and continuous effort by everyone in the firm to understand, meet, and exceed the expectations of customers
ISO 9000:2000 - Answers A set of guidelines...
Total Quality Management - Answers The unyielding and continuous effort by everyone in the firm to
understand, meet, and exceed the expectations of customers
ISO 9000:2000 - Answers A set of guidelines for quality management and quality standards developed by
the International Organization for Standardization, located in Geneva, Switzerland
ISO 14000 - Answers A set of quality standards designed to minimize environmental effects of an
organization's outputs
Quality - Answers Defined as customer satisfaction witht the total experience of a product or service
that is, the difference between customer expectations and actual performance of the product or service
Design Quality - Answers The difference between customer epectations (for attributes, services,
functionality, etc.) and product design
Performance Quality - Answers The difference between the design specifications of the product and the
actual performance of the product
Six Sigma - Answers An overall strategy to accelerate improvements and achieve unprecedented
performance levels by focusing on characteristics that are critical to customers and identifying and
eliminating causes of errors or deffects in processes
Tolerance - Answers Refers to an acceptable range of a quality characteristic, such as thickness
Goalpost Conformance - Answers Conformance to a quality spec expressed as a specified range around
the targeted performance level
Absolute Quality Conformance - Answers Requires all products or services to meet the target value
exactly, with no variation
Taguchi Quality Loss Function - Answers Depicts the relationship between quality costs and level of
deviation from target quality
Cost of Quality - Answers A comprehensive reporting framework for classifying quality-related costs
Prevention Costs - Answers Are costs incurred to keep quality defects from occurring
Appraisal Costs - Answers are costs devoted to the measurement and analysis of data to determine
conformity of outputs to specifications
Internal Failure Costs - Answers are associated with defective processes or defective products detected
before delivery to customers
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