Project Quality: Cost Management and Stakeholder Satisfaction

This report examines the crucial relationship between project quality and cost management. It begins by defining project quality as the degree to which a project meets stakeholder needs and emphasizes customer satisfaction. The report explores the significance of quality planning, highlighting the use of tools such as cost-benefit analysis, brainstorming, and the Force Field Analysis (FFA) technique. The report also discusses the Cost of Quality (COQ), which includes prevention, appraisal, and failure costs. It underscores the importance of preventing defects rather than detecting them later to minimize costs. The report concludes by discussing the impact of poor quality on project costs, such as the need for rework and the associated resource implications.