A quality cost chart is a visual representation that depicts the various costs incurred by an organization due to poor quality products or services. However, this term can also be referred to using other synonyms that describe the same concept. For instance, a quality cost chart can also be referred to as a cost of quality graph or a quality control chart. Other synonyms for this term include a quality expenses chart, a defect cost chart, and a failure cost chart. Regardless of the terminology used, the objective of a quality cost chart is to identify the real cost of quality and help businesses reduce their expenses incurred due to poor quality products or services.