Cost management harvard

  • How to manage costs?

    Cost control techniques are typically broken down into 5 steps which include:

    1. Planning your budget
    2. Monitoring expenses
    3. Using change control systems
    4. Time management
    5. Tracking earned value

  • Cost management helps identify what is and isn't working.
    It provides insight into resources and processes that helps managers make faster and better decisions about the current project and future ones.
    Facilitates financial health.
A manager who makes pricing, capital investment, personnel, and even strategic and/or tactical decisions without this product/market cost information—and then 

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