IT Project management Basic principles of cost management (1) Profits(利润) a are revenues minus expenses Profit margin(利润率) is the ratio between revenues and profits Life cycle costing(全寿命期成本计算) a is estimating the cost of a project over its entire Project Cost Management 10Project Cost Management 10 Basic Principles of Cost Management (1) ◼ Profits（利润） ◼ are revenues minus expenses ◼ Profit Margin （利润率） ◼ is the ratio between revenues and profits ◼ Life cycle costing （全寿命期成本计算） ◼ is estimating the cost of a project over its entire life IT Project Management