A cost management approach in which a target cost is established based on the expected selling price and required profit margin, and the product, service, or solution is designed to achieve that cost. In bid and proposal management, this approach is often referred to as Design-to-Cost.
Target Costing
A cost approach setting a target cost from expected price and margin, then designing to meet it; often called design-to-cost.
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Related Glossary Terms
The official compilation of permanent U.S. federal laws, providing the statutory basis for many contracting requirements.
A global classification system used to categorize products and services for procurement and spend analysis.
A unique 12-character identifier assigned via SAM.gov to organizations doing business with the federal government, replacing the DUNS number.
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