Costing & Pricing Your Products
What is costing?
Costing is the way the entrepreneur calculates or works out how much each individual product (goods or service) costs to produce or sell.
Why is it important to cost before pricing ?
To be able to set the price of the product fairly and competitively.
Components of Costs
Direct or Variable Costs: Vary directly with the number of items made or sold. This include all money spent for supplies and materials to make the product or to provide the service. For example the cost of raw materials, packaging and labour.
Indirect or Fixed Costs: Are the business expenses or overheads that must be paid whether or not its products are sold. Indirect costs include items such as rent, electricity, telephone, salaries, insurance and depreciation.
What is pricing?
Pricing is deciding what to charge for your goods or services.
Project Management Services
What Is It?
To keep that competitive edge, companies need to align their project management strategies directly with their strategic business goals. That’s why MNK Project Management as a service is not just includes project management, but program and portfolio management as well.
What We Do
MNK integrates resources across a company’s departments and utilizes communication, planning and budgeting skills to bring projects and deliverables to completion on time and under budget. Our project management expertise and oversight is based on sound PMI principles, and has helped commercial and government agencies streamline their delivery process, cut costs, and sidestep risks, thus providing significant cost savings and measurable long term value.