cost control


Also found in: Dictionary, Financial, Acronyms, Wikipedia.

cost control

[′kȯst kən′trōl]
(industrial engineering)

cost control

Management of a project to ensure that construction costs do not exceed the budgeted amount.
References in periodicals archive ?
Management Controls solutions transform the working relationship between owners and contractors with accuracy, visibility, cost controls and better, faster project information.
In 1998, Jim first put forward ten principles for cost control and then proposed the cost control system model for a closed cyclic project from the aspect of global cost management [10].
The main focus of the EPC Forum 2013 would be on monitoring involvement levels of owners and EPC contractors for projects; analysing the collaboration framework under EPC contract; keeping up with the schedule of construction progress rate and reducing loss in productivity; leveraging on cost engineering and value management to make the best decision in unforeseen circumstances; as well as achieving positive cost control throughout project development.
The company exhibited relatively good cost control resulting in higher profitability levels.
A structured approach to strategic planning is essential for coordinating a firm's short - and long-term mission, vision and actions, which includes cost controls. While a successful strategic planning process can serve to set the direction, realizing long-term goals necessitates a tight linkage of strategic, tactical, financial and cost-control plans.
I'm Arrow's general manager for business and project services and am responsible for a wide range of areas, including cost control, project scheduling, information management, contracting and procurement for the LNG project.
The guide is produced by COST CONTROL SERVICES - a consultancy and testing company with over 5 years experience.
Better utilization of fleet, marketing initiatives and Optimum Cargo Space utilization and Cost control drive helped improve the revenue among other initiatives taken by the airline's management.
Corporate boards, project managers, CFOs and risk managers are adamant in believing cost control equals risk control.
Health care reform without effective cost control is a budget-buster.
TELECOMWORLDWIRE-28 April 2009-Comptel makes cost control application available(C)1994-2009 M2 COMMUNICATIONS LTD http://www.m2.com
BWS Middle East will be involved in cost control management for First Bahrain's project at the BIW, as well as other projects.