Designing Strategic Cost Systems: How to Unleash the Power by Lianabel Oliver

By Lianabel Oliver

Delivering a multidisciplinary roadmap for the layout, improvement, and implementation of a strategic fee process, this booklet exhibits the best way to layout a price procedure to develop into a more desirable decision-making software and a resource of aggressive virtue for the association. It describes easy methods to constitution a value platforms layout venture and talk about the problems that are meant to be addressed prematurely from a administration, operations, and costing viewpoint.

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Extra resources for Designing Strategic Cost Systems: How to Unleash the Power of Cost Information

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Hiring a bodyguard and gave two individuals a marksmanship test of shooting at a bull’s-eye. 4 shows the results of the marksmanship test. Person A is very precise, but totally inaccurate. Person B is accurate, but not as precise. 6 Cost systems designers should strive to obtain the highest accuracy possible, even if this sacrifices precision. The cost system designers should determine what level of precision they want in their cost calculations and what trade-offs they are willing to make in terms of complexity and the accuracy of their costs.

Although the order of these steps may vary depending on the culture and management style of your organization, these tasks are necessary to ensure that the project starts off with the right focus and direction. Step 1: Get Management Commitment The most important step in the project organization is obtaining management commitment, not only from top management but also from the middle managers who control the project’s resources. A cost system redesign is not an accounting project; it is a strategic initiative that will require the involvement and support of many areas of the organization.

For example, during the development of the costing methodology (a Stage 3 task) a team might want to go back and reexamine some of the project objectives and the deliverables, a Stage 2 task. This continual questioning by team members will result in a more robust cost system that will be accepted and used by the management team. In the next sections, we will explain the decisions and tasks that should be taken at each stage of the redesign project. PRELIMINARY NEEDS ASSESSMENT A preliminary needs assessment is an evaluation of the six elements of a cost system and how well these elements are working together to provide cost information.

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