Simple checkpoints for a Test Manager to self assess cost of quality, am I betting too much or too low?

Cost of quality is relative. There is no high or low cost of quality as it completely depends on project to project. However, there are few simple checkpoints which you can ask yourself to gauge where you stand, in delivering quality assurance through testing.

1. Study your project plan for critical path. Understand those testing tasks occupying the critical path. More it is on critical path, more will be the case that cost of quality will be higher.
2. Understand stakeholders involved in the project. It will help you understand their views on quality, their risk appetite. Lesser their understanding of quality and lesser their risk appetite, more will be the cost of quality.
3. Understand your operating model - have you put your best model and team to action? Lesser the operating levers being invoked, more will be the cost of quality.
4. Understand the system that is getting built. Less it is critical, less will be the cost of poor quality.
5. Understand the delivery processes. Less it is stable and mature, more will be the cost of quality in controlling the processes.
6. Study the history of past failures and look for a prevention plan. More the past failures and no prevention plan, higher will be the cost of quality through failure costs.
7. Understand the tools landscape. More your team is equipped with right tools, less will be the cost of quality.
8. Understand the project governance. Poorer the governance, more will be the cost leaks.