Cost management is narrowly focused on a continuous reduction of costs.

Name: Cost management is narrowly focused on a continuous reduction of costs.
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Question

Quizplus · Accepted Answer

Cost management involves the process of planning, estimating, budgeting, financing, funding, managing, and controlling costs so that the project can be completed within the approved budget. While cost reduction is one aspect of cost management, the ultimate focus is on efficient allocation of resources to achieve project goals and objectives.

Cost Management Is Narrowly Focused on a Continuous Reduction of Costs