Estimates
Developing and validating forecasts of costs. A fundamental step in planning a business, strategy, program or project.Lifecycle Cost Analysis
Calculating the expected total cost of ownership of an asset over its lifespan.Cost-Benefit Analysis
Modeling and comparing costs and benefits such as product development costs versus revenue. Typically uses estimates such as payback period and return on investment.Efficiency
Measures of cost efficiency based on the efficiency formula.Cost Effectiveness
Cost effectiveness is the process of comparing the costs of strategies relative to results where results aren't purely financial. For example, comparing different ways to improve your quality of life according to cost and non-financial results such as happiness.| Overview: Cost Analysis | ||
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Definition | The process of modeling costs to support strategic planning, decision making and cost reduction. | |
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