An Observation on Cost Management

Abstract

The cost management of Japan started from “cost control” taught by United States and European countries. Based on that, it has evolved into “cost management” responding to the needs of times and taking technical development into the system. Then, it has been further developed into the “new cost management” that includes “cost planning”, and to the “life cycle cost management”. Currently, it has reached to the stage of “IT applied life cycle cost management”. The paper predicts that the age of “value-creative life cycle cost management” will arrive in future. The paper also explains the recent features of cost management.