Cost management definition

  • Types of cost management

    .

    1. Step 1: Resource planning.
      2. Resource planning is the process of ascertaining future resource requirements for an organization or a scope of work.
    2. Step 2: Cost estimating
    3. Step 3: Cost budgeting
    4. Step 4: Cost control

  • Types of cost management

    In accounting, the term cost refers to the monetary value of expenditures for raw materials, equipment, supplies, services, labor, products, etc..


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