Cost management capability

  • Cost management techniques

    Strategic cost management (SCM) deals with measuring and managing costs and aligning them to the business strategy.
    The cost and management accounting information thus developed would help managers to understand and implement the strategy, diagnosis the performance and influence behavior and decisions..

Cost Management is a function which includes the processes that are required to maintain effective financial control of projects (evaluating, estimating, budgeting, monitoring, analyzing, forecasting and reporting the cost information). Cost is the cash value of project activity.
It involves gathering, analysing, monitoring, reporting and managing all costs of the project. This can help you identify and measure any variances in baseline costs and take action accordingly. You may increase the budget, reduce the scope of the work or find more efficient ways to achieve similar outcomes.

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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What is AWS cost management?

Welcome to the AWS Cost Management User Guide.
The AWS Cost Management console has features that you can use for budgeting and forecasting costs and methods for you to optimize your pricing to reduce your overall AWS bill.
The AWS Cost Management console is integrated closely with the Billing console.


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