A flexible model for cost justification of ISO 9000 implementation

Abstract

Many articles have been written which either condemn ISO 9000, or praise its merits. It is believed that a firm must consider both the benefits and drawbacks to impartially consider ISO 9000 implementation. This paper is motivated by the need to present a tool by which an independent assessment can be made. A brief overview of basic ISO 9000 and financial analysis concepts will be presented, followed by detailed discussion of costs and benefits directly attributable to ISO 9000 adoption. Finally, a brief case study will be presented for illustrative purposes in use of the models presented.