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New public management (NPM) is an approach to running public service organizations that is used in government and public service institutions and agencies, at both sub-national and national levels. The term was first introduced by academics in the UK and Australia [ 1 ][full citation needed] to describe approaches that were developed during the ...
A cost estimate is often used to establish a budget as the cost constraint for a project or operation. In project management, project cost management is a major functional division. Cost estimating is one of three activities performed in project cost management. [3] In cost engineering, cost estimation is a basic activity. A cost engineering ...
The International Journal of Advanced Manufacturing Technology is a peer-reviewed scientific journal published by Springer Science+Business Media in 18 issues per year. It covers all aspects of advanced manufacturing technology, such as robotics, artificial intelligence (including speech technology), vision and tactile sensing, grippers, programmable controllers, lasers and other advanced ...
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."
Misconduct. v. t. e. Activity-based costing (ABC) is a costing method that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each. Therefore, this model assigns more indirect costs (overhead) into direct costs compared to conventional costing.
Some argue that Quick Response Manufacturing differs from Quick Response (QR) methods used in the apparel industry and the fast fashion market. QRM is a companywide management strategy applicable to a wide variety of businesses, whereas QR primarily stands for a specific business model in a particular industry. [3]
Industrial and Production engineering. Industrial and production engineering (IPE) is an interdisciplinary engineering discipline that includes manufacturing technology, engineering sciences, management science, and optimization of complex processes, systems, or organizations. It is concerned with the understanding and application of ...
Target costing is an approach to determine a product's life-cycle cost which should be sufficient to develop specified functionality and quality, while ensuring its desired profit. It involves setting a target cost by subtracting a desired profit margin from a competitive market price. [ 1 ] A target cost is the maximum amount of cost that can ...