Critical Analysis Of Cost Analysis

TOPIC: A STUDY ON COST ANALYSIS:

Cost analysis is economic evaluation techniques that involve the regular Collection, categorization, and examination of program or intervention costs, and cost of sickness. Cost analysis allows researchers to achieve cost minimization for the programs under concern .it a process by which business decisions are analyzed. The benefits of a given condition action are summed and then the costs associated with taking that action are subtracted. Some consultants also build the model to put a dollar value on insubstantial items, such as the benefits and costs connected with living in a certain town. Cost analysis is used to help people make decisions.

NEED FOR THE STUDY:

• To estimate the charge for the services, so that we are reimbursed for all the services.

• Cost of providing information. It is more cost effective

• To study the various types of cost involved and their effect on the Total cost of VRL Logistics.

• To analyze the cost effectiveness of different Segments of VRL Logistics.

SCOPE OF THE STUDY

• The main purpose of a cost analysis is to clarify and elucidate the consequences of alternative measures prior to making a decision about the implementation of measures.

• Cost analysis is a way of organizing information.

• Cost analysis enables uniform ranking of measures on the basis of their economic profitability.

• Quantifies all positive and negative effects of a measure in monetary terms.

METHODOLOGY:

Primary data: data collected by an investigator himself/herself for a specific purpose. Primary data will be collected from interaction with managers and office staff who are working in the organisation.

Secondary data: information that has been collected by someone else but it being used for your research is secondary data. Secondary data will be collected by referring cost sheet, balance sheet, various documents related to costs.

LITERATURE