Literature review on cost management
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CHAPTER 2 REVIEW OF RELATED LITERATURE AND STUDIES
Wearable Technology Applications in Healthcare: A Literature Review | HIMSS
Cost Management is a really important one among all the project management knowledge areas. There are several activities in a project, several project resources work on project activities and several materials, tool and equipment are used to complete the project scope. All these require a budget to be allocated. Because you need to purchase tools, materials, and the company must pay salaries of the project personnel. This knowledge area deals with the management of the expenses and the budget of the project. Note that, project management processes are documented and controlled by the help of project management templates. You can see sample free project management templates to have an idea of how they work.
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Systematic Quantitative Literature Review
During the product development stage, the organization designs the features that 1 give the product an edge over competing offerings and 2 affect the costs that will shape profit margins. Product design significantly affects the revenue side-technological performance, customer appeal, and timely market introduction-before the first unit is sold. The cost side follows a similar pattern; as a rule of thumb, 80 percent of the costs are engineered in during product development Blanchard ; Cooper and Slagmulder This paper examines practices other than target costing that high-technology companies use to manage costs during product development and provides tentative explanations for the desirability of these practices.
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