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3form Free Knowledge Exchange is one of the earliest examples of human-based computation and human-based genetic algorithm. [1] It uses both human-based selection and three types of human-based innovation (contributing new content, mutation, and recombination), in order to implement collaborative problem-solving between humans.
[2] [3] Martin Barnes (1968) proposed a project cost model based on cost, time and resources (CTR) in his PhD thesis and in 1969, he designed a course entitled "Time and Cost in Contract Control" in which he drew a triangle with each apex representing cost, time and quality (CTQ). [4] Later, he expanded quality with performance, becoming CTP.
The cost matrix is a crucial element within cost-sensitive modeling, [2] explicitly defining the costs or benefits associated with different prediction errors in classification tasks. Represented as a table, the matrix aligns true and predicted classes, assigning a cost value to each combination.
However, cost leader companies do compete on price and are very effective at such a form of competition, having a low cost structure and management. [ 1 ] Other aspects of cost leadership include tight operational controls across the business, avoidance of customers whose needs incur additional costs, and limits on expenditure in areas such as ...
The work breakdown structure provides a common framework for the natural development of the overall planning and control of a contract and is the basis for dividing work into definable increments from which the statement of work can be developed and technical, schedule, cost, and labor hour reporting can be established.
Components of price. Image according to Garrett (2008), figure 4-1, p.65. In business economics cost breakdown analysis is a method of cost analysis, which itemizes the cost of a certain product or service into its various components, the so-called cost drivers.
The 3Cs model points out that a business strategist should focus on three key factors for success. In the construction of a business strategy, three main elements must be taken into account:
The business model canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.