Cost Management: Measuring, Monitoring & Motivating PerformanceInnovation and cost management are the key requirements for companies to survive the current global economic crisis. Cost management not only leads to incremental performance improvement bur also to transformational change across the value chain. Cost management is viewed as part of a larger business process to influence decisions on pricing and profitability across several dimensions: product, customer, region, and distribution channel.In this book you can learn how your costing process aligns with industry best practices, and be on the leading edge of emerging practices such as value chain costing, shared services costing and outsourcing.This book also tells us how cost management and accounting are being put into practice. |
Contents
Objectives of Cost Management | 1 |
Cost Management Terminology | 41 |
Strategic Cost Management | 73 |
Total Cost Management | 85 |
Project Cost Management | 119 |
Cost Control Monitoring and Accounting | 135 |
Cost Methodology | 151 |
Cost and Costing | 197 |
Interorganisational Cost Management | 255 |
Cost Estimation and Forecasting | 265 |
Control and Profitability | 301 |
| 309 | |
| 313 | |
Common terms and phrases
activities activity-based costing actual costs allocation amount approach asset average cost Average Fixed Cost budget calculated competitive components cost accounting cost analysis cost centre cost curve cost drivers cost estimate cost models cost overrun cost planning Cost underestimation cost-benefit analysis cycle debt decisions determine discount Earned Value economic effective equity example expenses external firm fixed costs historical cost identify impact implement improve increase incurred indirect costs inventory investment manufacturing marginal cost measure method operations opportunity cost optimism bias organisation output overhead costs performance product cost profit programme project manager purchase reduce reference class forecasting result revenue risk schedule standard strategic cost management strategic misrepresentation sunk cost suppliers Supply Chain Management switching costs target cost throughput accounting total cost transaction costs unit variable costs