Operation cost target (OCT)

Operation cost target (OCT),

Definition of Operation cost target (OCT):

  1. The maximum amount that an organization has decided to spend on all aspects of a project. The operational cost target can be used to construct a budget for the project, by allocating the total allocated amount to the functional elements of the project such as labor, materials, equipment, and overhead.

Meaning of Operation cost target (OCT) & Operation cost target (OCT) Definition