Quality Insights: Measurement and quality rationing: an analytical approach

Measurement is as important in quality management as it is in many aspects of human endeavours. Take, for example, a business that is attempting to formulate a yearly budget. This business cannot create a budget out of thin air; it must use qualitative and quantitative assessments based on interpretations and equations. The exact methods businesses use to formulate their budgets may vary, but they should all include statistical analysis in order to achieve accuracy and precision. Budget management and quality management are analogous with respect to the application of analytical techniques to make decisions. This paper capitalises on that relationship to apply budget allocation and rationing techniques to quality. This paper presents an analytical approach to measurement and quality rationing in order to meet quality goals. Quality on a scale of measurement is the premise of this paper.