Examlex
What are the two main sources of uncertainty in cost management?
Forecasting
The practice of predicting future trends, demands, or events based on historical data and analysis.
Predicting
The process of forecasting future events, outcomes, or trends based on current or historical data, using various statistical, mathematical, or computational techniques.
Future
A period of time that has not yet happened but is considered in terms of potential events or developments.
Labor Input
The amount of work and effort provided by workers for the production of goods and services in an economy.
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