Cost management personnel

  • What are managerial personnel costs?

    Management Personnel Costs means (i) accrued salaries, bonuses and other compensation of, and expense and tax reimbursements to, Management Personnel and (ii) other costs of Holdings directly arising from the employment of such Management Personnel..

  • What is a personnel cost?

    Personnel cost refers to employee salaries/wages, bonuses, benefits, etc.
    This measure is part of a set of Supplemental Information measures that help companies evaluate additional variables not covered elsewhere for the "manage financial resources" process..

  • What is an example of a personnel cost?

    Salaries/personnel costs include salaries of staff, costs for overtime, on-call pay, paid time off, budgeted raises, and employee recognition/rewards expenses.
    Supplies include cleaning supplies, office supplies, calibration gases, minor equipment such as tools or test equipment, and other maintenance supplies..

  • What is employee cost management?

    Employee cost control means control over the cost incurred on employees.
    Control over employee costs does not imply control over the size of the wage bill; it also does not imply that wages of each employee should be kept as low as possible.
    The aim should be to keep the wages per unit of output as low as possible..

Management Personnel Costs means (i) accrued salaries, bonuses and other compensation of, and expense and tax reimbursements to, Management Personnel and (ii) other costs of Holdings or any of its Subsidiaries (other than the Borrower and its Subsidiaries) in each case directly arising from the employment of such
Management Personnel Costs means the sum of all direct and reasonably allocated portions of indirect labor costs of Management Personnel, as determined in 

4 Functions of Cost Management

Cost management is a continuous, fluid process.
However, there are four main elements or functions that can be found in any cost management plan:.
1) Resource planning.
2) Cost estimating.
3) Cost budgeting.
4) Cost control Because new expenses can appear and project scope can be adjusted, cost managers need to be prepared to perform all four functions.

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How many processes are there in cost management?

Cost Management has 4 processes, three of these processes belong to planning process group, and on of them belongs to monitoring and controlling process group.
These processes are:

  • Control costs.
    This knowledge area plans how to manage expenses and budget of a project, monitor and control the status of the project and measures budget performance.
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    What is cost management of personnel expenses?

    The cost management of personnel expenses is aboutintroducing strict roles and responsibilities.
    HR has to takeover the responsibilities from managers.
    They do not like this approach, but they have to adjust their behavior.
    They cannot base their decision on resources available at their cost center.


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