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Converting Data to Monetary Value

Use Standard Values

Many organizations have standard values to measure turnover, productivity, and quality. If a measure has a monetary value developed and accepted by the organization, there's no reason to reinvent it. Standard values are generally grouped into three categories: output to contribution, cost of quality, and employees' time.

When considering output to contribution, look at the value of an additional output. For example, let's say you work at a passport office and yo

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