Cost management synonyms

  • What are the names of cost management?

    4 steps of cost management

    1. Setup.
      2. The setup phase determines what's included in the cost management plan.
    2. Resource planning.
      3. This planning phase identifies the resources needed to complete a project.
    3. Budgeting and cost estimation.
      4. In this stage, project teams develop a project budget.
    4. Cost control

  • What are the names of cost management?

    Definition: In business and accounting, cost is the monetary value that has been spent by a company in order to produce something.
    In a business, cost expresses the amount of money that is spent on the production or creation of a good or service.
    Cost does not include a mark-up for profit..

  • What is the term for cost control?

    Cost Control as a Part of Cost Management
    Cost management is a broader term, encompassing estimating methods to forecast resources required and perform cost estimation, budgeting, cash flow forecasting, funding the budget, controlling costs, and performing a post-project evaluation for future cost-saving opportunities..

Although cost management includes a whole ensemble of activities, it is sometimes referred to in terms of more specific functions, such as spend management, cost accounting, and cost transparency. Cost managers sometimes use these terms as loose synonyms for the broad cost management function.

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