Discuss the "Cost of Quality" and is ramifications / implications in the organization -

COQ (Cost of Quality) means the financial number brought into play by project management personnel during the pronouncement making procedure. One should also keep in mind the actuality that COQ does not signify the price of putting forward quality goods or facilities; but it throws light on the aggregate costs required to bring poor quality commodities or facilities to the standards recognized by project management. Further, in actual sense it is coined as the price of not being efficient in offering a product or service of acceptable or good quality.