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For example, the driver 'economy of scale' leads to different costs per unit for different scales of operation (a small cargo vessel is more expensive per unit than a large bulk carrier), and the driver 'capacity utilisation' leads to greater costs per unit if the capacity is under-utilised and lower costs per unit is the utilisation is high.
In order to conduct the cost breakdown analysis, the starting point is to examine the various cost drivers of the service or product that is being analyzed. When itemizing the costs of transportation, one can come up with a simplified list of six cost drivers, namely: Personnel (e.g. driver) Motor fuel (diesel / gasoline) Tires; Maintenance; Tolls
Project Cost Management (PCM) is the dimension of project management which aims to ensure that a project is completed within its approved budget. [1] [2] It encompasses several specific project management activities including estimating, job controls, field data collection, scheduling, accounting and design, and uses technology to measure cost and productivity through the full life-cycle of ...
In the context of pharmacoeconomics, the cost-effectiveness of a therapeutic or preventive intervention is the ratio of the cost of the intervention to a relevant measure of its effect. Cost refers to the resource expended for the intervention, usually measured in monetary terms such as dollars or pounds. The measure of effects depends on the ...
Cost accounting has long been used to help managers understand the costs of running a business. Modern cost accounting originated during the Industrial Revolution when the complexities of running large scale businesses led to the development of systems for recording and tracking costs to help business owners and managers make decisions. Various ...
For example, the costs of heating and cooling a factory in Illinois will be highest in the winter and summer months and lowest in the spring and fall. If the overhead rate is recomputed at the end of each month or each quarter based on actual costs and activity, the overhead rate would go up in the winter and summer and down in the spring and fall.
Two other commonly used F measures are the measure, which weights recall twice as much as precision, and the measure, which weights precision twice as much as recall. The F-measure was derived by van Rijsbergen (1979) so that F β {\\displaystyle F_{\\beta }} "measures the effectiveness of retrieval with respect to a user who attaches β ...
Cost pools is an accounting term that refers to groups of accounts serving to express the cost of goods and service allocatable within a business or manufacturing organization. [1] The principle behind the pool is to correlate direct and indirect costs with a specified cost driver, so to find out the total sum of expenses related to the ...