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A great example of how the organization mitigates waste to control costs. Are there any specific...

A great example of how the organization mitigates waste to control costs. Are there any specific projects that you have worked on where cost control provided work performance information useful for another project?

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Answer #1

The organization can reduce the waste to control cost by following certain rules

  • Fullest use of available resources, instead of appointing new employees the existing persons can solve problems much early
  • Make use of available information, rather than searching for new information the database gives more information than needed
  • Have the right person in the right place, so that the task is done more effectively
  • Make use of the Bargaining power by which a huge amount can be reduced in the total cost
  • Have a good rapport with the suppliers by which delay in materials will not take place often

Work performance information means to know the status of the project as to where we are right now and how much work we have completed etc. By having a record of the information we can keep track of the information and it can be used for the other projects.

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