homage. n. 1. a public show of respect or honour towards someone or something (esp in the phrases pay or do homage to). 2. (Historical Terms) (in feudal society). a. the act of respect and allegiance made by a vassal to his lord. See also fealty.
Cost management is the process of planning and controlling the budget of a business.
Overview of cost definitions and costing methods by James Ruth (jamesbennettruth@gmail.com) 1. Cost Definitions Cost: The total money, time, and resources associated with a purchase or activity. Fixed cost: Includes all costs that do not vary with activity for an accounting period.