Financially Focused Quality: 1st Edition (Hardback) book cover

Financially Focused Quality

1st Edition

By Thomas Cappels

CRC Press

312 pages

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Hardback: 9781574442489
pub: 1999-06-17
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The author introduces Financially Focused Quality (FFQ) to the business world. The FFQ management strategy has been evolving over the years at Lockheed Martin and has been documented as having saved them millions of dollars. FFQ takes TQM and Full-Cycle Corrective Action (FCCA) a critical step further by including a financial viewpoint at the beginning of process improvement activity, and integrating recognition of cost in each step of the process.

In the 21st century, technical expertise alone will not be enough. This book offers valuable financial concepts and insights that will greatly improve your worth to your companies. Equipped with FFQ concepts and methodologies, you will be able to observe your workplace from a financial viewpoint, enhancing your value as a decision maker and leader.

The book presents the methodology for insuring a company-wide education on key financial issues. With an understanding of basic concepts, the book explains FFQ elements and their use in making and implementing business decisions. The final chapters contain case studies showing successful FFQ applications.

Financially Focused Quality: TQM in the 21st Century gives you the skills necessary to implement FFQ in work environments, offering the prospect of improving the translation of quality and cost-cutting measures to the bottom line. It is an important professional reference and provides the financial education that all employees should receive to become leaders in the 21st century.

Table of Contents


Quality Management for Performance Excellence

Quality Becomes Big Business

The Business of Quality

Evolution of the Corporate World

Financially Focused Quality

Employee Involvement in Quality Management


Human Resources

Employee Benefits

Employee Participation

Total Quality Management

Total Quality Service

Empowerment and Ownership

Employee Suggestion Systems

Cost-Reduction or Avoidance Programs

Continuous Quality Improvement

Process Management

Participative Management and Team Building

Quality Circles

Task Force Teams

Natural Work Teams

Process Improvement Teams

Effective Meetings



Managerial Strategies for Quality Management


Total Improvement Management

Manufacturing Resource Planning

Just in Time Manufacturing

Vision Statements

Mission Statements

Benchmarking/Best Practices


Quality Management Systems


ISO: ISO 9000 and ISO 1400

External Customer Focus

Customer Feedback

Expensive Products and Expensive Feedback

Inexpensive Products and Customer Feedback

Service Industry Feedback and Questionnaires

Measurement Process


Quality Control


Dr. W. Edwards Deming

Process Quality Control and Statistical Analysis

Diminishing Returns of Quality Control Measures

Quality Control Definitions and Goals

Quality Assurance Organization

Closed Loop Corrective Action

Quality Assurance and the Product Life Cycle

Cycle of Quality Activities

Quality Assurance Functions

Completing the Cycle of Quality Activities: Finance

Avoiding Product Liability: Design and Development


Product Safety

Basic Conditions of a Product Liability Case

Manufacturing Defects

Product Assurance Versus Product Liability

Evolution of Quality Assurance

Systematic Approach to Quality and Safety Assurance

Product Design - The Beginning

Vendor Materials Control


Avoiding Product Liability: Manufacture and Use


Inspection and Test of Vendor Components

Inspection and Test in Manufacturing


Industrial Quality Assurance

Quality Assurance Through Statistics and Sampling


Management Resources to Assure Quality


Financial Administration

Introduction to Financially Focused Quality

Adult Education

Cycle of Financial Activities

Financial Concepts

Time-Keeping, Timecards, and Cost Segregation

Forecasting Personnel

Contracting Modes (Fixed Price/Cost Reimbursable)

Rates Per Direct Labor Hour

Financial Administration

Financial Operations Summary


Teaching Financially Focused Quality and Financial Concepts

Financially Focused Quality: Identifying Opportunities


Financially Focused Quality Overview

Failure or Opportunity Identification

Failure Notice

Process Improvement Recommendation


Financially Focused Quality: Process Improvement Coordination and Decision Making


Process Improvement Coordination

When Corrective Action is not Required

Time Requirements

Coordination Process

Failure Analysts

Process Improvement Analysis Meeting

Process Improvement Analysis of Cost

Process Improvement Follow-Up Plan

Process Improvement Closure Notice

Financial Administration

Product Support


Case Studies

Manufacturing: Penguin in a Helmet

Software Engineering: Litton


Test Equipment Failure: Lockheed Martin

Hotel Industry: Tiara Plaza Hotel

Restaurant: Purple Sky

Advertising: DSW, Inc.

Labor Unions: Security Local


B.F. Skinner





Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Quality Control
TECHNOLOGY & ENGINEERING / Engineering (General)