do you consider this to be a practical--and a useful--flowchart for decision making about converting data to money? Why?

exist. Because of Total Quality ity-based costing, and reengineering, departments of the organization. Table 19. An Example to Illustrate Steps to Convert Data to Monetary Values 10 Setting: Labor-Management Cooperation Program in a Manufacturing Plant Step 1 Focus on a Unit of Improvement: One grievance reaching step two in the four-step grievance resolution process. Step 2 Determine a Value for Each Unit: Using internal experts, the labor relations staff, the cost of an average grievance was estimated to be $6,500 when considering time and direct costs. (V=$6,500) Step 3 Calculate the Change in Performance Data: Six months after the program was completed, total grievances per month reaching step two declined by 10 . The supervisors attributed seven of the 10 grievance reductions to the HR program by supervisors (isolating the effects of the HR program). Step 4 Determine an Annual Amount for the Change: Using the 6-month value, 7 per month yields an annual improvement of 84(P=84) for the first year. Step 5 Calculate the Annual Value of the Improvement: Annualvalue=PV=84$6,500=$546,000