Total Cost Management (TCM)

Total Cost Management (TCM) is a structured approach to planning and controlling all costs associated with a project or operation throughout its entire lifecycle. It aims to optimize expenses by integrating cost estimating, budgeting, and cost control, ensuring resources are used efficiently. TCM balances quality, scope, and schedule to deliver the best value while minimizing unnecessary expenditures. Essentially, it helps organizations make informed financial decisions, reduce waste, and achieve project goals effectively by managing costs proactively from start to finish.