Structure Types of cost curves – Fixed, variable and total cost functions – Average fixed, average variable and average cost functions Marginal cost functions Marginal and variable cost functions Marginal and average cost functions Short run and long run cost curves
Structure Types of cost curves Fixed, variable and total cost functions Average fixed, average variable and average cost functions Marginal cost functions Marginal and variable cost functions Marginal and average cost functions Short run and long run cost curves
Learning objectives Understand the importance of good project cost management Explain basic cost management principles, concepts, and terms Describe the resource planning, cost estimating, cost budgeting, and cost control processes