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Frequent rate cases raise regulatory cost and weaken utility cost containment incentives. The recurrent issues of cost allocation and cross-subsidies will incline regulators to discourage desired marketing flexibility. Suggestive studies indicate that MRPs in the form of price caps may reduce rate escalation for consumers. [2]
Cost reduction is the process used by organisations aiming to reduce their costs and increase their profits, or to accommodate reduced income. Depending on a company’s services or products , the strategies can vary.
Following strong initial uptake, ABC lost ground in the 1990s compared to alternative metrics, such as Kaplan's balanced scorecard and economic value added.An independent 2008 report concluded that manually driven ABC was an inefficient use of resources: it was expensive and difficult to implement for small gains, and a poor value, and that alternative methods should be used. [4]
Product cost management (PCM) is a set of tools, processes, methods, and culture used by firms who develop and manufacture products to ensure that a product meets its profit (or cost) target. Scope [ edit ]
Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". [1] "Cost Engineers budget, plan and monitor investment projects. They seek the optimum balance between cost, quality and time requirements." [2]
The concept of the Iron Triangle of Health Care was first introduced in William Kissick’s book, Medicine’s Dilemmas: Infinite Needs Versus Finite Resources in 1994, describing three competing health care issues: access, quality, and cost containment. [1] [2] Each of the vertices represents identical priorities. Increasing or decreasing one ...
Image source: The Motley Fool. Upstart (NASDAQ: UPST) Q4 2024 Earnings Call Feb 11, 2025, 4:30 p.m. ET. Contents: Prepared Remarks. Questions and Answers. Call ...
An important part of standard cost accounting is a variance analysis, which breaks down the variation between actual cost and standard costs into various components (volume variation, material cost variation, labor cost variation, etc.) so managers can understand why costs were different from what was planned and take appropriate action to ...