cost management
Controlling spending strategically
Cost management is the process of planning, monitoring, and controlling expenses to stay within budget.
In business and project management, it encompasses estimating costs, allocating resources, and tracking spending: Effective cost management kept the project profitable.
The term appears frequently in healthcare, where it refers to efforts to reduce medical expenses while maintaining quality of care.
- expense trackingRecording what you spend
- bottom lineEssential point or conclusion
- financial planningOrganizing future monetary goals
- cash flowMoney entering and exiting
- burn rateCapital expenditure velocity
overhead · fixed costs · variable costs · belt tightening · inventory control · zero-based budgeting · capital allocation · budgeting · bill · contingency planning · capacity planning · cash · margins · price point · spending · control · resources · savings
- budgetingbudget, budgets, budget app, budget template, budget allocation
- business skillsfinancial literacy, leadership, deal-making, delegation, risk assessment
- resource managementbudget, budgeting, saving, allocation, allocating
- bankingbank, banks, ATM, ATMs, account
- defense spendingdefense budget, defense spending, military spending, army budget, defense contracts
- farm record keepingfield notes, birth records, death records, planting dates
cost managementrevenue generation
Creating streams of income
profit maximization · earnings growth · revenue growth · business development · market expansion
cost managementoverspending
Exceeding one's budget
profligacy · wastefulness · budget overruns · extravagance · squandering