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Sir,
1-if the question ask to explain the life-cycle costing concept, would it be okay if i explain it like this way? in a short way…
eg:
Market development phase:
-low sales
-high cost per customer
-financial lossesor do I have to elaborate it further?
And….
2-Is Activity based management and ABC the same thing?
1. No, it would not be OK, because you are only discussing one phase without explained the whole idea of life-cycle costing. I do suggest that you watch my free lectures on life-cycle costing, and do look at the answers to questions asking this in your Revision Kit.
2. No. ABC is simply doing the costing, whereas activity based management is using the same approach, but to actually decide on how to manage the production.
My lectures are a complete free course for paper PM and cover everything needed to be able to pass the exam well.
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