10.1 Getting Started: Strategic Cost Management

Explain the difference between price and total cost—and why this matters.

Be able to apply strategic thinking and tools to prioritize costs.

Define and conduct a price analysis.

Define and conduct a cost breakdown analysis.

Define and be able to calculate total costs.

Define and be able to explain how to conduct cost modeling (aka, Should Costing).

Define and be able to explain when and how to use target costing.