cost control


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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 ?
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.
When the electricity-procurement plan is also dynamic, the business is better positioned to make operations adjustments and gain cost control.
The budget is the keenest instrument of cost control in any organisation.
Clearly, cost control is still king and has even increased from last year's survey.
We have a very specific plan to get the cost control system in place for existing facilities that would parallel the system used in the new facilities division,'' he said.
They also understood the requisite principles that would have to guide comprehensive reform: a standardized benefits package that would be available regardless of preexisting conditions or employment; universal coverage; pooling the risk of all individuals to distribute the financial burden; standardizing payment forms to reduce bureaucracy; and finally, a built-in mechanism to ensure cost control.
Nowadays, with prices relatively firm and the massive reserves of developing nations entering the market, a CEO's priorities tend toward cost control and productivity improvements.
While there are new opportunities for innovative cost control programs, many CPAs are staying away from medical benefits consulting because of its perceived complexity.
Even among those organizations that do not have a specific I/S-based cost-control strategy, a variety of particular areas surfaced in which the organization applied I/S in cost control.
The rules slightly favor supporters of something closer to the international standard of cost control.
Unfortunately, profit responsibility is too often nothing more than a euphemism for cost control.
With respect to the firestorm over which is the best approach to cost control, opening up the Medicare program to all comers could represent a reasonable compromise.