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HBOK 1-614

Title All Ears
Author(s) Peter J. Sherman and James G. Vono
Source Quality Progress
Topic Performance Measurement

Data Analysis

Abstract When presenting proposed quality improvement initiatives to senior management, it is important to speak their language by including important financial metrics that will hold their attention. A quality professional must be able to build a business case that describes the issue, its solution, key risks, and estimated benefits and costs to secure approval and funding. The basic financial metrics of costs, savings, return-on- investment (ROI), pay-back period, and break-even analysis can be used in any business scenario and will enhance decision making.
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