Cost Management Cost Management from the Perspective of Competitive Advantage by Edwin B. Dean Cost management is the system within an organization which manages cost . One of the purposes of cost management is to reduce cost. This web site defines a cost technology to be any definable means of reducing cost. Of these, target costing has proved to be highly effective over a long period of time.
Target costing uses value engineering very effectively.
Also, the cost activities within activity based management offer tremendous potential. An interesting related insight comes from comprehensive quality function deployment where time, responsiveness, and cost, are all qualities of a process.