Measurement uncertainty has important economic consequences for calibration and measurement activities. In calibration reports, the magnitude of the uncertainty is often taken as an indication of the quality of the laboratory, and smaller uncertainty values generally are of higher value and of higher cost. The American Society of Mechanical Engineers (ASME) has produced a suite of standards addressing various aspects of measurement uncertainty. For example, ASME standards are used to address the role of measurement uncertainty when accepting or rejecting products based on a measurement result and a product specification, provide a simplified approach (relative to the GUM) to the evaluation of dimensional measurement uncertainty, resolve disagreements over the magnitude of the measurement uncertainty statement, or provide guidance on the risks involved in any product acceptance/rejection decision.