Enlist the purposes of cost analysis

Cost analysis serves several purposes in resource management:

1. Cost Estimation: One of the primary purposes of cost analysis is to estimate the expenses associated with a project or activity. By analyzing the costs involved in various components such as labor, materials, equipment, and overhead, organizations can develop accurate estimates to plan budgets and allocate resources effectively.

2. Budgeting: Cost analysis helps in creating and _______ ________ _______ _________ ______ ______ _________ ________ __________ __________ _____.
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