Cost management model

  • Techniques of cost control

    Cost models are used to estimate the cost of a project, and to compare the costs of different projects.
    There are several different types of cost models, including: parametric models, bottom-up models, top-down models, and activity-based costing (ABC) models..

Cost Management Function

The Cost Management function (WBS-1) includes the processes that are required to maintain financial control of projects (economic evaluation which initiates the project, estimating, organizing, controlling, analyzing, reporting, forecasting and taking the necessary corrective action.
The Function chart (Figure 1), the Function Impact Matrix chart (.

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Should you use a cost model in Business Management?

In business management, there’s hardly a time when you shouldn’t be using it.
Cost models are incredibly important for assessing the viability of a new product or service, identifying reasons for poor profits or simply looking for ways to run a leaner operation.


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