What is involved in Product Cost Management
Find out what the related areas are that Product Cost Management connects with, associates with, correlates with or affects, and which require thought, deliberation, analysis, review and discussion. This unique checklist stands out in a sense that it is not per-se designed to give answers, but to engage the reader and lay out a Product Cost Management thinking-frame.
How far is your company on its Product Cost Management journey?
Take this short survey to gauge your organization’s progress toward Product Cost Management leadership. Learn your strongest and weakest areas, and what you can do now to create a strategy that delivers results.
To address the criteria in this checklist for your organization, extensive selected resources are provided for sources of further research and information.
Start the Checklist
Below you will find a quick checklist designed to help you think about which Product Cost Management related domains to cover and 72 essential critical questions to check off in that domain.
The following domains are covered:
Product Cost Management, Cost engineering, Design for Six Sigma, Design for assembly, Design for manufacturability, Enterprise resource planning, Enterprise software, Manufacturing cost, Microsoft Excel, Pricing method, Product lifecycle management, Profit, Software category, Spend analysis, Spreadsheet, Supply chain management, Target costing, Total cost of acquisition, Total cost of ownership, Value engineering, Whole-life cost:
Product Cost Management Critical Criteria:
Bootstrap Product Cost Management governance and slay a dragon.
– How likely is the current Product Cost Management plan to come in on schedule or on budget?
– How would one define Product Cost Management leadership?
– How can the value of Product Cost Management be defined?
Cost engineering Critical Criteria:
Map Cost engineering issues and catalog what business benefits will Cost engineering goals deliver if achieved.
– Think about the people you identified for your Product Cost Management project and the project responsibilities you would assign to them. what kind of training do you think they would need to perform these responsibilities effectively?
– What is the source of the strategies for Product Cost Management strengthening and reform?
– Who will be responsible for documenting the Product Cost Management requirements in detail?
Design for Six Sigma Critical Criteria:
Infer Design for Six Sigma failures and diversify disclosure of information – dealing with confidential Design for Six Sigma information.
– What are the business goals Product Cost Management is aiming to achieve?
– What are the Essentials of Internal Product Cost Management Management?
– Who sets the Product Cost Management standards?
Design for assembly Critical Criteria:
Huddle over Design for assembly decisions and separate what are the business goals Design for assembly is aiming to achieve.
– What are the top 3 things at the forefront of our Product Cost Management agendas for the next 3 years?
Design for manufacturability Critical Criteria:
Grade Design for manufacturability leadership and separate what are the business goals Design for manufacturability is aiming to achieve.
– What role does communication play in the success or failure of a Product Cost Management project?
– Can we do Product Cost Management without complex (expensive) analysis?
– Are we Assessing Product Cost Management and Risk?
Enterprise resource planning Critical Criteria:
Have a session on Enterprise resource planning results and create Enterprise resource planning explanations for all managers.
– Does Product Cost Management include applications and information with regulatory compliance significance (or other contractual conditions that must be formally complied with) in a new or unique manner for which no approved security requirements, templates or design models exist?
– How will you measure your Product Cost Management effectiveness?
Enterprise software Critical Criteria:
Learn from Enterprise software engagements and modify and define the unique characteristics of interactive Enterprise software projects.
– What do you think the world of enterprise software delivery will look like in ten to fifteen years (take into account practices, technology, and user experience)?
– Who will be responsible for making the decisions to include or exclude requested changes once Product Cost Management is underway?
– What business benefits will Product Cost Management goals deliver if achieved?
– Is your LMS integrated to your current enterprise software?
Manufacturing cost Critical Criteria:
Be responsible for Manufacturing cost projects and catalog Manufacturing cost activities.
– Can we add value to the current Product Cost Management decision-making process (largely qualitative) by incorporating uncertainty modeling (more quantitative)?
– How much does Product Cost Management help?
Microsoft Excel Critical Criteria:
Categorize Microsoft Excel quality and adopt an insight outlook.
– Why is it important to have senior management support for a Product Cost Management project?
– Is the Product Cost Management organization completing tasks effectively and efficiently?
– How do we know that any Product Cost Management analysis is complete and comprehensive?
Pricing method Critical Criteria:
Distinguish Pricing method visions and create Pricing method explanations for all managers.
– What is our Product Cost Management Strategy?
Product lifecycle management Critical Criteria:
Derive from Product lifecycle management engagements and reduce Product lifecycle management costs.
– Which customers cant participate in our Product Cost Management domain because they lack skills, wealth, or convenient access to existing solutions?
– Is the scope of Product Cost Management defined?
– Is Product Cost Management Required?
Profit Critical Criteria:
Categorize Profit adoptions and point out Profit tensions in leadership.
– What are the key elements of your Product Cost Management performance improvement system, including your evaluation, organizational learning, and innovation processes?
– What may be the consequences for the performance of an organization if all stakeholders are not consulted regarding Product Cost Management?
– Can we establish a new market segmentation strategy focused on potential profitability and willingness to purchase?
– How well the overall operations of the firm are managed (is it profitable?
– How is LTV calculated and how does it differ from ROI and profitability?
– To what extent is the profitability of the product certain?
– Profitability – will the product be (highly) profitable?
– Are profits high enough, given the level of sales?
– What do profitability ratios measure?
– Is the balance of retained profits?
– Is the profit margin holding?
– Is gross profit holding?
– Do we have bad profits?
Software category Critical Criteria:
Conceptualize Software category visions and budget the knowledge transfer for any interested in Software category.
– What are the success criteria that will indicate that Product Cost Management objectives have been met and the benefits delivered?
– Can Management personnel recognize the monetary benefit of Product Cost Management?
– Have all basic functions of Product Cost Management been defined?
Spend analysis Critical Criteria:
X-ray Spend analysis projects and know what your objective is.
– What vendors make products that address the Product Cost Management needs?
Spreadsheet Critical Criteria:
Check Spreadsheet results and mentor Spreadsheet customer orientation.
– Do we cover the five essential competencies-Communication, Collaboration,Innovation, Adaptability, and Leadership that improve an organizations ability to leverage the new Product Cost Management in a volatile global economy?
– Can we describe the data architecture and relationship between key variables. for example, are data stored in a spreadsheet with one row for each person/entity, a relational database, or some other format?
– You may be using spreadsheets or other tools to track incidents, resolution times, and other data. How much time does it take to consolidate this information into meaningful reports?
– In what ways are Product Cost Management vendors and us interacting to ensure safe and effective use?
– How do we keep improving Product Cost Management?
Supply chain management Critical Criteria:
Study Supply chain management projects and differentiate in coordinating Supply chain management.
– Who will be responsible for deciding whether Product Cost Management goes ahead or not after the initial investigations?
– Does Product Cost Management analysis show the relationships among important Product Cost Management factors?
– How do supply chain management systems coordinate planning, production, and logistics with suppliers?
– What makes cloud computing well suited for supply chain management applications?
– How do we manage Product Cost Management Knowledge Management (KM)?
– What is TESCM tax efficient supply chain management?
Target costing Critical Criteria:
Extrapolate Target costing visions and be persistent.
– What other organizational variables, such as reward systems or communication systems, affect the performance of this Product Cost Management process?
– Is a Product Cost Management Team Work effort in place?
Total cost of acquisition Critical Criteria:
Consider Total cost of acquisition risks and adjust implementation of Total cost of acquisition.
– How do your measurements capture actionable Product Cost Management information for use in exceeding your customers expectations and securing your customers engagement?
– How do you incorporate cycle time, productivity, cost control, and other efficiency and effectiveness factors into these Product Cost Management processes?
– What are internal and external Product Cost Management relations?
Total cost of ownership Critical Criteria:
Recall Total cost of ownership engagements and know what your objective is.
– How can we incorporate support to ensure safe and effective use of Product Cost Management into the services that we provide?
Value engineering Critical Criteria:
Study Value engineering projects and devote time assessing Value engineering and its risk.
– Record-keeping requirements flow from the records needed as inputs, outputs, controls and for transformation of a Product Cost Management process. ask yourself: are the records needed as inputs to the Product Cost Management process available?
– What are current Product Cost Management Paradigms?
– Are there Product Cost Management problems defined?
Whole-life cost Critical Criteria:
Prioritize Whole-life cost governance and correct better engagement with Whole-life cost results.
This quick readiness checklist is a selected resource to help you move forward. Learn more about how to achieve comprehensive insights with the Product Cost Management Self Assessment:
Author: Gerard Blokdijk
CEO at The Art of Service | http://theartofservice.com
Gerard is the CEO at The Art of Service. He has been providing information technology insights, talks, tools and products to organizations in a wide range of industries for over 25 years. Gerard is a widely recognized and respected information expert. Gerard founded The Art of Service consulting business in 2000. Gerard has authored numerous published books to date.
To address the criteria in this checklist, these selected resources are provided for sources of further research and information:
Product Cost Management External links:
Product Cost Management | Benefits We Provide to Our …
Product Cost Management – Gartner IT Glossary
Cost engineering External links:
SEA 05C – Cost Engineering and Industrial Analysis Division
Melville Cost Engineering
Design for Six Sigma External links:
Design for Six sigma (Book, 2003) [WorldCat.org]
[PDF]Design For Six Sigma (DFSS)
Design for assembly External links:
[PDF]Design For Assembly – terraria.store
Design for Assembly, Design for Manufacturing
Design for assembly (Book, 1983) [WorldCat.org]
Design for manufacturability External links:
Design for Manufacturability – OMTEC
[PDF]Design For Manufacturability – yuanbao.store
Design for Manufacturability (eBook, 2014) [WorldCat.org]
Enterprise resource planning External links:
Enterprise resource planning: Implementation …
Enterprise Resource Planning – ERP – Investopedia
Enterprise Resource Planning System | Hill International
Enterprise software External links:
BlackBerry Enterprise Software – Security & Management …
System Dashboard – Enterprise Software Development …
Enterprise software licensing | Adobe Buying Programs
Manufacturing cost External links:
Apple iPhone Manufacturing Cost Foxconn – Business Insider
Intel’s manufacturing cost: $40 per chip – CNET
Manufacturing Cost Models for Estimating – MTI Systems
Microsoft Excel External links:
Microsoft Excel Online – Work together on Excel …
Pricing method External links:
Hedonic Pricing Method – Ecosystem Valuation
[PDF]Chapter 5 Transfer Pricing Methods
Product lifecycle management External links:
Rethinking Product Lifecycle Management | …
Product Lifecycle Management Software | Infor PLM
Agile Product Lifecycle Management
Profit External links:
Government or Not-for-Profit Workplace Retirement Account
Software category External links:
USCutter – Sign Software Category
BNA Software – Software Category
Software Category Types – Information Technology …
Spend analysis External links:
Advantage Spend Analysis Program (ASAP)
U.S. Bank Spend Analysis / Annual Account Summary
Spreadsheet External links:
untitled spreadsheet @ Eredar – Community – World of Warcraft
How to Put a Title on an Excel Spreadsheet | Chron.com
Untitled spreadsheet – Copy – Docs.com
Supply chain management External links:
Lean Logistics & Supply Chain Management System | …
Logistics, Supply Chain Management and Order …
Healthcare Supply Chain Management | Infor
Target costing External links:
[PDF]USING TARGET COSTING TO MANAGE SPORTING …
What Are the Benefits of Target Costing? | Chron.com
Target Costing Flashcards | Quizlet
Total cost of acquisition External links:
Total Cost of Acquisition (TCA) – defined – YouTube
Total cost of ownership External links:
[PDF]Total Cost Of Ownership – CohuHD Rugged HD …
[PDF]Total Cost of Ownership (TCO)
Fleet Total Cost of Ownership
Value engineering External links:
Value engineering | Engineering | FANDOM powered by …
Value Engineering – Design – Federal Highway Administration
Value Engineering – Investopedia