cost containment

Definition

The process of controlling the expenses required to operate an organization or perform a project within pre-planned budgetary constraints. The cost containment process is an important management function that helps keep costs down to only necessary and intended expenses in order to satisfy financial targets.

Use cost containment in a sentence

  • You must always be sure to adhere to any cost containment when you are purchasing things for your new project.

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  • When you are dealing with the cost containment it is important that you not be to cheap and make the job impossible.

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  • The cost containment strategy was in effect and I thought it was a rally good idea, because we really needed it.

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