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Building Economy, construction / building projects - Coggle Diagram
Building Economy
- Development Framework Of Cost Management
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- Building Economics
Terminology
PROFIT
when business earns more money than the expenses (including
costs and taxes) needed to produce and sell goods or services.
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PRICE
the actual amount of money that a client or a consumer has to
spent in order to acquire a certain product or service.
FEASIBILITY
the possibility that can be made, done, or achieved, or is
reasonable.
COST
the amount of money needed to buy, do, or make something.
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VIABILITY
the ability to live, operate or be sustained.
Secondary
Exp : manufacturing, construction (building)
Tertiary
Exp : transport, tourism, retail, restaurant
Primary
Exp : agriculture, fishing, forestry
Economics examine and analyse the economic activity of people in order to satisfy their need and desires.
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- Philosophy of Building Economics
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- Application Of Cost Management At Various Stages
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Cost management is a form of management in the process of planning and controlling the budget of a business.
the activities used to collect, analyse, evaluate, estimate, allocate, and control costs of a project.
By implementing an effective cost management system, a company’s overall budgeting can be brought under control
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- The Importance Of Cost Management
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manage the finances, budget and other accounts
processes for construction / building projects
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