Cost Benefit Analysis

You've seen the cost-benefit analysis technique before in the Initiating process group. In the case of quality management, you'll want to consider the trade-offs of the cost of quality. It's cheaper and more efficient to prevent defects in the first place than to spend time and money fixing them later. The benefits of meeting quality requirements are as follows:

■ Stakeholder satisfaction is increased.

■ Productivity is higher.

The PMBOK® Guide notes that the primary cost of meeting quality requirements for a project is the expense incurred while performing project quality management activities.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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