Product Suite

Supply Chain Glossary - P

Supply Chain Glossary - P

project

An endeavor with a specific objective to be met within the proscribed time and dollar limitations and that has been assigned for definition or execution. See: project manufacturing, project management.

An accounting method of assigning valuations that is generally used in industries where services are performed on a project basis. Each assignment is unique and costed without regard to other assignments. Examples are shipbuilding, construction projects, and public accounting firms. Project costing is opposed to process costing, where products to be valued are homogeneous.


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