Is-372 Wee K 5 Discussion Why Do You Think Its

IS-372Week 5 DiscussionWhy do you think it’s difficult to understand some of the basic cost terms in this chapter? Why aren’t many technical people interested in cost-related subjects? What could be done to change this?Cost management is about planning and controlling the budget for a particular project. This ensures that minimum cost is incurred to achieve the best possible result. However, some people find it difficult to understand some basic cost terms from this chapter due to several reasons. The most common is when a student does not master the learning models; the calculation of the subsequent cost terms could be very frustrating. For instance, for one to understand the conversion cost, he must first understand the various fixed and variable costs. Some of these variants are difficult to put in figure. Many technicians are not interested in cost related subjects because it interferes with the quality of their recommendation. While the technician knows exactly what is best for an organization, he is not sure how much the organization is willing to spend on the project. Therefore, if he quotes a cost that surpasses the expectation of the organization, the project is likely to be rejected, or the organization would