Search results
Results From The WOW.Com Content Network
The cost breakdown analysis is a popular cost reduction strategy and a viable opportunity for businesses. [1][2][3] The price of a product or service is defined as cost plus profit, whereas cost can be broken down further into direct cost and indirect cost. [1] As a business has virtually no influence on indirect cost, a cost reduction oriented ...
Quality, cost, delivery (QCD), sometimes expanded to quality, cost, delivery, morale, safety (QCDMS), [1] is a management approach originally developed by the British automotive industry. [2] QCD assess different components of the production process and provides feedback in the form of facts and figures that help managers make logical decisions ...
A work-breakdown structure (WBS) [2] in project management and systems engineering is a deliverable -oriented breakdown of a project into smaller components. A work breakdown structure is a key project management element that organizes the team's work into manageable sections. The Project Management Body of Knowledge defines the work-breakdown ...
In economics, a transaction cost is a cost incurred when making an economic trade when participating in a market. [ 1 ] The idea that transactions form the basis of economic thinking was introduced by the institutional economist John R. Commons in 1931.
Cost–utility analysis (CUA) is a form of economic analysis used to guide procurement decisions. The most common and well-known application of this analysis is in pharmacoeconomics , especially health technology assessment (HTA).
A company could be the lowest cost producer yet not offer the lowest-priced products or services. If so, that company would have a higher than average profitability. 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]
An issue tree, also called logic tree, is a graphical breakdown of a question that dissects it into its different components vertically and that progresses into details as it reads to the right. [1]: 47. Issue trees are useful in problem solving to identify the root causes of a problem as well as to identify its potential solutions.
Edward Nash Yourdon (April 30, 1944 – January 20, 2016) was an American software engineer, computer consultant, author and lecturer, and software engineering methodology pioneer. He was one of the lead developers of the structured analysis techniques of the 1970s and a co-developer of both the Yourdon/Whitehead method for object-oriented ...