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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
 
 
 
 
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
 
 
 
Home » Glossary » What a Task Cost?
What a Task Cost?  

What a Task Cost?



 
 

Task Cost is the total amount of financial, non-financial and human resources that have to be paid off or given up in order to perform a certain task. It is the price a performer needs to pay for the work to be done around the task to get this task completed. 

When calculating cost of a task the following types of resources should be considered and estimated:

  • Financial: money, funds, securities, and loan facilities available for spending on task performance.
  • Non-financial: land, buildings, vehicles and equipment that are allowed for use in doing the task.
  • Human: people responsible for task performance and results. 

In terms of project management, task cost serves as the basis for estimating and calculating a portion of project cost. If to be simple, the total amount of cost of all tasks involved in a certain project determines the so called "task-based cost" of that project. The task-based cost does not include expenses related to planning, investing, reporting, communicating, analysis, and other activities required for project development and implementation.

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