scholarly journals Modern cost management approach for development projects

2018 ◽  
Vol 6 (9) ◽  
pp. 104-108
Author(s):  
Jan Lhota
Keyword(s):  
Research And Development ◽  
Cost Reduction ◽  
Industry 4.0 ◽  
Cost Management ◽  
Added Value ◽  
Management Approach ◽  
Development Projects ◽  
Modern Methods ◽  
To Come ◽  
The Cost

Modern methods of cost management have already undergone considerable development since the early 1960s until today, but there is still the possibility of eliminating the weaknesses of these modern methods, mainly due to the emergence of a new trend in digitization. This is currently on the rise mainly in the automotive and electronics sector and will continue to expand over the next period. Currently and in the years to come, many other new positions and areas will have to be covered by Industry 4.0 as such, not only to improve productivity, flexibility, quality and speed in manufacturing area but within production as a whole. Research and development are areas that are key to increasing the added value of a product, so it is very important to pay maximum attention to them, mainly because of the cost reduction, but also the overall not only economic impact.

Implementasi Analisis Proses Bisnis Sebagai Upaya Pengurangan Biaya

2019 ◽  
Vol 10 (1) ◽  
pp. 1-27
Author(s):  
Aniek Wijayanti
Keyword(s):  
Business Process ◽  
Cost Reduction ◽  
Process Analysis ◽  
Value Added ◽  
Added Value ◽  
Natural Material ◽  
Management Activity ◽  
Procurement Process ◽  
Material Procurement ◽  
The Cost

Business Process Analysis can be used to eliminate or reduce a waste cost caused by non value added activities that exist in a process. This research aims at evaluating activities carried out in the natural material procurement process in the PT XYZ, calculating the effectiveness of the process cycle, finding a way to improve the process management, and calculating the cost reduction that can achieved by activity management. A case study was the approach of this research. The researcher obtained research data throughout deep interviews with the staff who directly involved in the process, observation, and documentation of natural material procurement. The result of this study show that the effectiveness of the process cycle of natural material procurement in the factory reached as much as 87,1% for the sand material and 72% for the crushed stone. This indicates that the process still carry activities with no added value and still contain ineffective costs. Through the Business Process Mechanism, these non value added activities can be managed so that the process cycle becomes more efficient and cost effectiveness is achieved. The result of the effective cycle calculation after the management activities implementation is 100%. This means that the cost of natural material procurement process has become effective. The result of calculation of the estimated cost reduction as a result of management activity is as much as Rp249.026.635,90 per year.

Strategic Cost Management in the Supply Chain

2020 ◽  
Author(s):  
Lisa M. Ellram ◽  
Wendy L. Tate
Keyword(s):  
Supply Chain ◽  
Cost Reduction ◽  
Return On Investment ◽  
Cost Management ◽  
Strategic Cost Management ◽  
Supply Chain Finance ◽  
Supply Chain Costs ◽  
Definition Of ◽  
The Cost

Companies increasingly face challenging economic times, where it is not uncommon to see revenues decline or remain stagnant. This can strain business viability and reduce the return on investment for shareholders. To increase the return on investment and favorably impact profitability, organizations focus on cost reduction efforts. Cost management should be both holistic and purposeful, while taking a supply chain perspective. This is often not the case because the cost reduction efforts tend to be internal and short-term focused and do not consider the supply chain implications of decisions. Strategic cost management takes a supply chain perspective and includes several tools that can help facilitate cost management. This chapter provides a definition of strategic cost management with supporting examples. It also discusses some tools, including total cost of ownership, target costing, and supply chain finance, that can be used to holistically and strategically manage supply chain costs. The chapter closes with a discussion around the growing role of supply chain finance in cost management.

scholarly journals KEY PROBLEMS OF INTERACTION BETWEEN ORGANIZATIONS IN IMPLEMENTATION JOINT PROJECTS ON RESEARCH AND DEVELOPMENT

2019 ◽  
pp. 124-127
Author(s):  
Yu. Kafiyatullina ◽  
E. Panfilova
Keyword(s):  
Research And Development ◽  
Innovation Activity ◽  
Development Projects ◽  
Joint Research ◽  
Effective Implementation ◽  
Technological Gap ◽  
Current State ◽  
State Of Research ◽  
The Cost ◽  
Advanced Development

Innovative activity of domestic organizations continues to remain low: from 2014 to 2016, there was a reduction in the cost of technological innovations, organizations prefer to import foreign equipment in order to increase the innovation component of the products sold. The way out of the situation is to conduct joint research and development projects, according to the results of which Russian organizations will have the rights to advanced development, acquire competitive competences, which will later allow our country to reduce the technological gap. The article analyzes the current state of research and development, innovation activity, the level of development of digital technologies in our country, which allows to outline the range of problems that hinder the effective implementation of joint research and development projects.

Design Considerations in the Development of Fuel Cell Power Modules

2003 ◽  
Author(s):  
P. Rivard ◽  
J. Cargnelli ◽  
T. Simpson ◽  
R. DelCore ◽  
S. Burany ◽  
...  
Keyword(s):  
Fuel Cell ◽  
Learning Curve ◽  
Cost Reduction ◽  
Design Considerations ◽  
Power Modules ◽  
Wide Scale ◽  
Catch 22 ◽  
To Come ◽  
The Cost

The commercialization of fuel cell power modules presents a “catch-22”, in that proponents must reduce the cost drastically in order to achieve wide-scale adoption, and wide-scale adoption must occur in order to achieve the learning-curve effects leading to lower costs. Which one is to come first, cost-reduction or wide-scale adoption?

Modern tools of deep analysis in the system of cost management in inter-organizational relations of agricultural formations

2021 ◽  
pp. 6-15
Author(s):  
Lyudmila Ivanovna Khoruzhy ◽  
Yury Nikolaevich Katkov ◽  
Anastasiya Alekseevna Romanova
Keyword(s):  
Theoretical Analysis ◽  
Cost Analysis ◽  
Simulation Modeling ◽  
Business Processes ◽  
Cost Management ◽  
Interorganizational Cooperation ◽  
Modern Methods ◽  
Organizational Relations ◽  
The Cost

The article, based on the theoretical analysis and the study of accounting practices, presents the place and role of tools for deep cost analysis in the cost management system of inter-organizational interaction of partners. The features of agriculture that have a significant impact on the interorganizational cooperation of agricultural companies are revealed. The advantages of the introduction and use of modern methods of cost management, including simulation modeling in identifying deviations in business processes, are revealed.

Modern methods for the cost management and process improvement integrated in the change management

2018 ◽  
Vol 4 (10) ◽  
pp. 290-297
Author(s):  
Katarina Marcinekova
Keyword(s):  
Change Management ◽  
Process Improvement ◽  
Quantitative Research ◽  
Cost Management ◽  
Change Implementation ◽  
Cost Calculation ◽  
Process Optimisation ◽  
Modern Methods ◽  
Evaluation And Monitoring ◽  
The Cost

The process of evaluation and monitoring of changes is difficult. The aim of change implementation is to achieve a positive effect. Adoption of an appropriate method is dependent on many different factors as well as an evaluation of a change influence. In the connection with that it is necessary to deal with process improvement. The utilisation of modern approaches in the Cost Management is really important. The aim of the paper is to show partial results of the primary quantitative research focusing on the Change Management integrated to the area of cost calculation, change effects and process optimisation. The data was acquired via questionnaire. Respondents would fill the questionnaire in online form as well as through personal interview. The questions were focused on the range of the utilisation of the modern methods, tools, indicators and calculations by Slovak enterprises. The tools of descriptive and inductive statistics were used for data analysis. Keywords: Process optimisation, calculation, cost, change management.

Industrial Vicissitudes and Commercialization of Technology in Japan

1993 ◽  
Vol 5 (5) ◽  
pp. 416-419
Author(s):  
Kihachiro Nishikawa ◽  
Keyword(s):  
Quality Assurance ◽  
Research And Development ◽  
Cost Reduction ◽  
Technological Progress ◽  
New Technologies ◽  
Years Of Experience ◽  
Technical Design ◽  
Industrial Expansion ◽  
Difficult Challenge ◽  
The Cost

Through my forty years of experience as an electromechanical engineer, I have realized that the development of technical design has been one of the most important elements necessary for Japanese industrial expansion. The cost reduction of the products, along with quality assurance and functional improvements, is one of the main purposes of the technological progress; and it is a difficult challenge. To achieve this purpose, engineers are requested to design smaller, lighter products with fewer parts. In other words, engineering designers must adopt the new technologies in order to reach their target. This demand stimulates Research and Development (R&D) activity in many related fields.

MANAGEMENT APPROACH TO ACCOUNTING AND ANALYSIS OF PERSONNEL COSTS IN THE ORGANIZATION

2017 ◽  
Vol 6 (3) ◽  
pp. 70-76 ◽  
Author(s):  
Маличенко ◽  
I. Malichenko
Keyword(s):  
Statistical Approach ◽  
Cost Management ◽  
Management Approach ◽  
Personnel Costs ◽  
Goods And Services ◽  
Material Resources ◽  
Managerial Decisions ◽  
Management Approaches ◽  
The Cost

According to the accounting and management accounting, personnel costs are the second largest in terms of volume after material resources in the cost of goods and services. In this connection, the analysis of personnel costs and the adoption of well-founded managerial decisions for effective planning and development remain the priority for companies. The presence of only an accounting (statistical) approach to cost management does not allow you to determine the entire set of hidden costs associated with personnel management. The article compares the accounting and management approaches to the accounting and analysis of personnel costs, provides a management classification of costs for targeted and functional purposes, on the basis of which general and private HR-budgets are formed, followed by an assessment of the effectiveness of using planned costs. The lack of an administrative approach to the accounting of personnel costs in the organization leads to their substantial underestimation, to their impersonal consideration in the composition of the organization’s total expenses, which ultimately reduces the profit indicators and deforms the strategic attitudes of the organization

scholarly journals A Typology of Cost Accounting Practices Based on Activity-Based Costing – A Strategic Cost Management Approach

2019 ◽  
Vol 14 (2) ◽  
pp. 161-184
Author(s):  
Gregory Wegmann ◽  
Keyword(s):  
Cost Management ◽  
Cost Accounting ◽  
Management Approach ◽  
Activity Based Costing ◽  
Management Activity ◽  
Professional Literature ◽  
Accounting Systems ◽  
Strategic Objectives ◽  
Strategic Cost Management ◽  
The Cost

This article examines cost accounting methods containing one or more activity-based costing (ABC) like dimensions. The objective is to analyze cost accounting proposals with, in part, a philosophy reminiscent ABC. The research purposes are to analyze the strategic dimension of the methods described and to build a typology useful for managers. The discussion leads to a four-dimensional typology based on three strategic objectives assigned to the cost accounting systems. The foundation of the research is the Strategic Cost Management Theory from which emerges the ABC philosophy. The methodology applied is an academic and professional literature review. The typology designed shows common points and similarities of the methods observed and their strategic dimensions. Some of the methods studied are more or less useful for practitioners, according to the situation of their companies. Keywords: strategic cost management, activity-based costing, typology

Seven Pillars in Cost Effectiveness for Sustaining the Life of Mature Fields: an Example from Mahakam Block

2020 ◽  
Keyword(s):  
Cost Effectiveness ◽  
Energy Supply ◽  
Oil Price ◽  
Development Projects ◽  
Operational Cost ◽  
Supply Chain Optimization ◽  
New Development ◽  
To Come ◽  
The Cost ◽  
Technical Standardization

Maintaining mature fields provides major challenges in which production and resources are decreasing, while the operations complexity is increasing. This condition leads to increasing project risk, rising cost, and eventually decreasing company’s profit. New development projects may become sensitive to cost. Low oil price environment has made the situation even more challenging. This paper will discuss the strategy being implemented in Mahakam to overcome the challenges as a mature asset. Having produced for more than 40 years, Mahakam fits perfectly in the category of mature, thus fundamental changes are needed for ensuring its sustainability. One of the main focus areas is cost effectiveness. Cost structure was investigated in order to identify the main cost drivers. Then, multiple workshops were held to discuss any possible solutions to improve the cost effectiveness. For capturing ideas from bigger audience, an online platform was created where employees can submit ideas. Lastly, a communication media is regularly distributed to maintain employee’s engagement to the program. Seven pillars in cost effectiveness have been identified for Mahakam to respond to the current situation; Budget accuracy, technical standardization and innovation, change of working philosophy, operations optimization, supply chain optimization and renegotiation, cooperation with other companies, and organizational right-sizing. Several initiatives under those pillars have been successfully implemented resulting in 20% reduction of operational cost in 2019 and will be sustained for the years to come without compromising safety. As the challenge facing mature fields is typically similar, the aforementioned approach will likely not only be applicable in Mahakam but also in other mature fields. Some adaptations might be needed to adjust with the specific characteristic of each individual field. Cost effectiveness will generate capability to continue future investment for sustaining the life of mature fields which is one of the key elements for securing energy supply in Indonesia.

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