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Question: Develop the Quality Management Planning Component of your Cost and Quality Management Plans. Answer: Deliverable report: Quality cost assist the organization to analyse the level to which resources utilised by the company for the activities for maintaining the service quality and the product quality and for protecting the cost that considers the internal as well as internal failures and the reason behind that. Quality cost does not involve just upgrading of the perceived value of any product to the higher standard, rather it includes delivering and creating the product that fulfils the customers expectation (Farooq et al., 2017). Therefore, if a customer allocates lower amount, he cannot expect air conditioning and leather seats rather he can expect his vehicle to operate properly. The quality is regarded as a vehicle for the function, instead of the luxury experiences. Quality costs majorly fall under the following four categories Prevention cost the prevention cost is incurred for preventing the project from the project from the quality problem. This cost is the least expensive kind of cost and therefore, highly recommended. This cost includes proper training of the employees for assembling the products and for the statistical procedure control. Further, it includes the cost related to supplier certification as well as the product design. Focussing on the prevention cost is likely to decrease the preventable wastes costs as the wastes never take place. Appraisal cost as same as the prevention cost, appraisal cost is also incurred to prevent the project from the project from the quality problem. This is done through various kinds of inspection (Kaplan Atkinson, 2015). It involves the least expensive activities like investigation of outgoing as well as incoming parts of the workstations by the production workers that catches the issues faster as compared to other kinds of inspection. Various other appraisal cost involve the goods destruction cost as the part of testing process, depreciation of the test equipment and the supervision if testing staff. Cost of internal failure the cost of internal failure is expensed while any defective product is manufactured. This reveals in reworked or scrapped forms for the goods. The cost involved with reworking goods is the part of internal failure cost. Cost of external failure cost incurred under the external failure cost while any defective product is manufactured, however, the cost under this is far extensive as it involves the product recall cost, field service, warranty claims, legal costs, potentiality cost and the associated costs with the lawsuit of customer (Sarkar Moon, 2014). It further involves significant unquantifiable cost that is the cost involved with loosing the customers. Based on the given case study of Polyproducts Incorporated, it is recognized that the company is the leader in producing the rubber components and they employ 800 employees and the employees are organized by the company through matrix structure. It is found that under Exhibit I, projections the employees salaries are revealed and on the other hand, projected overhead are revealed under Exhibit II. Further, they got an offer from Capital Corporation to evaluate the viability of the project and they are expected to analyse the marketplace for establishing the strategy regarding whether they will be able to achieve the competitive advantages over the competitors or not. The task will be performed by the marketing group of the company. For evaluation, marketing group will prepare the prospectus after taking into consideration four competitive entities. Finally, after make the comparison with the competitors, if the project proposal of the company seems profitable and viable, Polyproducts Incorporated accept the offer from the Capital Corporation. Work breakdown with cost breakdown structure References Farooq, M. A., Kirchain, R., Novoa, H., Araujo, A. (2017). Cost of Quality: Evaluating Cost-Quality Trade-Offs for Inspection Strategies of Manufacturing Processes.International Journal of Production Economics. Kaplan, R. S., Atkinson, A. A. (2015).Advanced management accounting. PHI Learning. Sarkar, B., Moon, I. (2014). Improved quality, setup cost reduction, and variable backorder costs in an imperfect production process.International journal of production economics,155, 204-213.