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Articles
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QICID: 24414
Title: All Ears
Copyright: ASQ
Author: Sherman, Peter; Vono, Jim
Organization:
Subject: Training and presentation techniques, Senior management, Business results, Management support, Organizational improvement initiatives;
Series: Quality Progress, Vol. 42, No. 7, July 2009, pp. 16-23
This ARTICLE is available FREE
to all readers.
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 in order 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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