Analysis and Quantification (where possible) of Tangible and Intangible Benefits of Risk Based Quality Auditing Approach
|International Journal of Engineering Trends and Technology (IJETT)||
|© 2017 by IJETT Journal|
|Year of Publication : 2017|
|Authors : Shobhendu Prabhakar
|DOI : 10.14445/22315381/IJETT-V50P247|
Shobhendu Prabhakar "Analysis and Quantification (where possible) of Tangible and Intangible Benefits of Risk Based Quality Auditing Approach", International Journal of Engineering Trends and Technology (IJETT), V50(5),287-291 August 2017. ISSN:2231-5381. www.ijettjournal.org. published by seventh sense research group
Risk Based Quality Auditing approach has numerous benefits over traditional judgement and experience based quality auditing approach. Purpose of this research paper is to explain, analyse, and quantify (where possible) the tangible and intangible benefits of risk based quality auditing approach over traditional judgement and experience based quality auditing approach for companies in oil and gas sector. Since oil prices have been at their lowest for few years now, it becomes even more prudent to utilize Risk Based Quality Auditing approach to keep cost of oil and gas projects and departments execution at a new normal (optimized) level.
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Quality auditing, Risk rating, Quality audit program, Systematic approach to quality auditing, Risk based quality auditing, tangible benefits, and intangible benefits.