Cost elements implementing a process in an organization

Question

Explain the different cost elements which are involved in implementing a process in an organization?

Answer 1

The different cost elements which are involved in the implementing process are listed below:

a) Salary : - The salary of any employee forms the major component of implementing any process. Generally at the time of implementing a process in a company either it will recruit full-time people or share resources part-time to implement the process.

b) Consultant : - It can involve consultants if the process is latest, which is again an added cost.

c) Training Costs : Employees of the company possibly will also have to go through training in order to implement the new process

d) Tools : In order to execute the process, an organization will also have to to buy tools which yet again require to be budgeted for.