cost management system vs system of cost management

Both phrases are correct and commonly used in English. They refer to the same concept of managing costs within a system. The choice between the two may depend on personal preference or the specific context in which they are used.

Last updated: March 22, 2024 • 658 views

This phrase is correct and commonly used in English.

"cost management system"

This phrase refers to a system specifically designed for managing costs within an organization or project.

Examples:

The company implemented a new cost management system to track expenses more efficiently.
Effective cost management systems can help businesses improve their financial performance.

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Efficiency ensures cost-effectiveness of current operations and management decisions whereas effectiveness evaluates whether the entire cost and management system is successful in delivering the intended outcomes.
comparative investigations of different farming systems, cost-effective fisheries management systems, the rearing of non-food animals, interactions with forestry and studies to improve rural and coastal livelihoods.
aid to SMEs to promote sustainable production patterns through the introduction of cost-effective environmental management systems and the adoption and use of pollution-prevention technologies;
Germany stresses that costs of controls are considerable. It proposes that "the cost of management and control systems in Member States should be assessed by the Commission to ensure that cost is proportionate to the results obtained."
However, although electronic monitoring is a key component of cost-effective fisheries enforcement and management systems should not be duplicated.
This appropriation is to cover part of the costs related to the document management system and other systems-related expenses in the administration.
This appropriation is intended to cover the costs of the first phase of developing a document management system.
In order to ensure that the lower lending margins are sustainable, banks should adopt sound provisioning policies and risk management systems, effective cost controls and adequate asset quality and capital.
The budget previously earmarked for a knowledge/document management system will be used in line 2 1 0 0 to face costs of renewing network infrastructure.
Particular importance attaches in this respect to the continued development of the European Railway Traffic Management System, the interoperability and compatibility of which must be ensured at all costs.
Moreover, these complex management systems involve an additional cost which must continue to be compatible with the exacting cost constraints customary in the motor industry and transport industries.
This appropriation is intended to cover part of the costs related to the document management system and other systems related expenses in the administration.
The Agency has decided to implement during 2007 and 2008 an integrated management system that will further increase the level of detail in monitoring the cost of its activities.
However, due to a rule change now requiring the constituent's management systems to be included in the annual assessment, the cost of testing under Article 11A is scheduled to increase threefold.
Costs related to the development and maintenance of the Athena accounting and asset management system.
As part of the agency's continuing efforts to have a better understanding of the costs of the centralised procedure, a time management system - ActiTrak - was introduced in 1998.
This appropriation is intended to cover the costs covered by the grant provided to Eurojust by the European Commission to co-finance the further development of the Case Management System through the EPOC III project.
This situation is exacerbated by the absence of a flexible crisis management system, the lack of which places the cost-effectiveness of the sector at risk.
With more than 100 indicators, this performance management system mixes financial measures such as IT cost efficiency with non-financial ones, such as user satisfaction.
Is concerned that an integrated management system, allowing costs to be allocated to specific work packages and funding sources of operational costs to be identified, was not in place by December 2009;

Alternatives:

expense management system
budget management system
financial management system
cost control system
cost tracking system

This phrase is correct and commonly used in English.

"system of cost management"

This phrase also refers to a system designed for managing costs, but the word order is reversed compared to the first phrase.

Examples:

The organization adopted a new system of cost management to streamline their financial processes.
A well-implemented system of cost management can lead to significant cost savings.

Show examples from the web [+]

comparative investigations of different farming systems, cost-effective fisheries management systems, the rearing of non-food animals, interactions with forestry and studies to improve rural and coastal livelihoods.
System of reimbursement of costs paid by the person insured
This Directive should provide for a system of prior authorisation for assumption of costs for health care received in another Member State.
System of direct or indirect allocation of costs to products.
It is important that Member States can decide to establish a well-defined system of prior authorisation for reimbursement of costs of hospital or specialised care.
However, although electronic monitoring is a key component of cost-effective fisheries enforcement and management systems should not be duplicated.
The Council does not have at its disposal a system of cost accounting that would allow the average cost of processing replies to parliamentary questions to be determined.
The Polish authorities have assured the Commission that the current system of cost accounting allows for a clear separation of the costs of these two types of activities.
According to the constant case law of the Court of Justice, Member States may make the assumption of costs by the national system of hospital care provided in another Member State subject to prior authorisation.
So, your Rapporteur reluctantly recognises that it is for member States to decide on the payment of costs for accompanying persons for those travelling for healthcare under this Regulation and the existing system of prior authorisation.
I am of the opinion that we could save ourselves a great deal of cost and unnecessary effort if we were to replace the system of reports and rapporteurs by getting the groups to react directly to the planned proposals, as is the case in most national parliaments.
According to the constant case-law of the Court of Justice, Member States may make the assumption of costs by the national system of hospital care provided in another Member State subject to prior authorisation.
The Member State of affiliation may provide for a system of prior authorisation for reimbursement of costs of cross-border healthcare, in accordance with this Article and Article 9.
However, the obligation on the correlation of costs does not imply a total coincidence between price and cost and leaves the Member State the possibility of applying a system of making tariffs equal for specific provisions of the universal service.
There is no management information system in place to allow the allocation of costs to specific work packages or to identify the funding source of operational costs.
The extra cost to the consumer of an appropriate system of poultry management is estimated by the Commission - and for this too we thank them - at two euros per person per year.
The assumption of costs, by the social security systems of the Member States, in respect of health care provided in another Member State must not be lower than that provided for by their own social security system for health care provided in their territory.
Within the system of allocation of costs to services (c), costs are divided into:
In the light of the case-law of the Court of Justice, making the assumption by the statutory social security system or national health system of costs of healthcare provided in another Member State subject to prior authorisation is a restriction to the free movement of services.
To enable a turnaround for Air Malta, the RP envisages significant cost reductions, especially through the reduction of capacity and staff as well as an improved cost management.

Alternatives:

management system for costs
management of costs system
cost management framework
cost management setup
cost management infrastructure

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cost management system vs system of cost management