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Project Costing

At IC Services, we understand the arduousness of managing website contents with little to no development knowledge. Which is why we highly recommend our clients to integrate their websites on platforms with Content Management System (CMS).

All about Project Costing.

Benefits

Profitable and Unprofitable Activities

Activities which bring in profits and activities which result in losses would be clearly defined. This can be easily done as you compare the cost of each product/job with the price obtained.

Guide in Reducing Prices

It becomes necessary to reduce the price during seasons, sometimes even below the total cost, otherwise known as a depression or slump. Costs, properly ascertained, will guide management in the correct direction.

Information for Proper Planning

A proper system of costing requires necessary detailed information about the facilities available about machine and labour capacity. This helps in proper planning of work so that no section is overworked and no section remains idle.

Control over Materials etc.

Information on availability of stocks on various materials and stores must be constantly updated should there be a good system of project accounting. This helps in two ways; firstly, production can be planned according to the availability of materials, and fresh stocks can be arranged in time when old stocks are exhausted. Secondly, loss due to carelessness or pilferage or any other mischief will be known and, therefore, put down.