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ITM750_Chap07_Cost_Management

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Set of flashcards Details

Flashcards 34
Language English
Category Micro-Economics
Level Primary School
Created / Updated 08.12.2013 / 09.12.2013
Licencing No Copyright (CC0)
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overrun

If something gets more expensive than the budget allowed it

Profits

Revenue minus expenditures

Profit margin

Ratio of revenues to profits

Life cycle costing

The total cost of ownership.

Cash flow analysis

Determining the estimated annual costs and benefits for a project and check if they have enough money. And to determine the net present value

Tangible costs or benefits

Costs or benefits that can be measured easily

Intangible

Difficult to measure in monetary terms.

Direct costs

Directly related to producing the products or services of the project. FE. salaries