Cost management : a case study of a gardening firm project
2013
Huang, Hailiang | Zhang, Chaofeng
Purpose: The purpose of this research is to analyze how a small gardening company can reduce the cost of implementation of a project, through the usage of a Cost Management (CM) framework. Method: The research uses an inductive approach built on qualitative data that is gathered through the following means: unstructured interviews; direct observations and documentations. The CM framework is applied to analyze the costs of the project that are used by the company. The data is analyzed by using SWOT analysis approach. Results & Conclusions: This study shows that a small gardening company can reduce the cost of implementing a project by using the CM framework. Through this thesis, the authors summarize several suggestions as reference for small companies to perform the future projects. In order to avoid severe cost burden lead to the crisis of future development, the small gardening company needs to apply the effective cost management system to control cost. Moreover, an effective and reasonable cost management system needs the support of the top management commitment, the workers involvement and a self-perpetuating system. The CM framework will not only help small companies control costs of projects, but also ensure quality of projects so that small companies can enhance their core competitiveness and set up own brand in the future. Contribution of the thesis: The thesis shows that several costs can be optimized or avoided when implement a project. From the case study and the authors’ analysis, small companies should pay more attention to the cost control to improve efficiency and profit.
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