Time-Cost-Quality Model

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Time-Cost-Quality Model

Build it fast and good. Build it fast and cheap. Build it good and cheap.

 

  • Time – Refers to the actual time required to complete a project and in production.
  • Cost – Refers to the amount of money that will be required to complete the project.
  • Quality – Refers to the functional elements that, when completed, make up the end deliverable for the project.
Achieving the right balance of quality, time and cost for your project is key to the success of your project.
TCQ_Image

 

  • Time + Cost = a project done quickly and cheaply … but the Quality may suffer
  • Quality + Time = an outstanding project delivered quickly … but it will Cost more
  • Cost + Quality = great work at a reasonable cost … but leave plenty of Time to complete it
Taguchi’s Philosophy
  • We cannot reduce cost without affecting quality
  • We can improve quality without increasing cost
  • We can reduce cost by improving quality
  • We can reduce cost by reducing variations. When we do so, performance and quality will automatically improve.

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