Financial Data

Use the Financial Data form to record the financial benefits of the project, in terms of annualized or monthly hard and soft savings.

Financial data are often required to get full support from management and other project stakeholders. This form is sometimes referred to as a COPQ (Cost of Poor Quality) analysis.

The Financial Data form answers the questions:
  • For a proposed project, what are the expected financial benefits and the time frame for realizing those benefits?
  • Once a process has a baseline, what are the updated benefits and timeline expectations?
  • For a completed project, what are the actual financial benefits, and the actual time frame for realizing those benefits?


  1. Include process experts and finance representatives on the team whenever possible.
  2. Determine the potential savings categories using company guidelines. For example, labor, materials, and inventory are commonly used to determine the gross savings for the project.
  3. Determine the cost categories for implementing the project. These categories are used to estimate the cost of the project and to calculate the net savings.
  4. Record the financial data.
  5. Finance representatives should validate all benefit amounts and sign off on the analysis.

For more information, go to Add and complete a form.