Cost Modeling
Terms and Definitions
This chapter unfolds the details of a cost model and cost framework. It begins with the concept, terms, and definitions related to a cost model and then it gives a functional definition of a cost model. In order to resolve the fundamental issue, namely making the right strategy decision, this chapter highlights many challenges in term of cost modeling.
Keywords
Cost model; cost framework; tangible cost; intangible cost; sunk cost; cost parameters; direct variable cost; benefits; risks; opportunities; methodology; metrics; objective; subjective
This chapter will unfold the content in the following order. First, a number of common terms or concepts will be defined and clarified, and these terms, such ...
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