Several studies have been performed to review the state the art in the cost of quality (COQ) literature. These studies have focused on different aspects such as models, adoption, limitations, etc. Few works have been found addressing the COQ simulation procedures. Simulation is a crucial tool to attain preliminary inexpensive results prior to potentially expensive or complex in situ studies. Currently, there are several simulation-based approaches to estimate the COQ. These studies were based on different simulation techniques such as discrete event and linear optimization to mention a few. One simulation technique that seems to be useful to understand the causal relationship between the elements on COQ is system dynamics (SD). SD allows the analyst to observe causal effect relationships and their aggregated structure to answer research questions, improve policy making and observe previously unknown or unobserved behaviors. However, no review has been performed presenting the most suitable or best practices to address theoretical issues in COQ via SD. The current work provides a review of different SD-related works to address this problem aiming to provide a scope for future research on SD simulation of COQ.