Cost Governance

1. (noun) The acts of controlling, directing, and standardizing the conduct, actions, and solutions associated with the oversight of Cost Management.

2. (noun) The documented set of policies, standards, rules, and controls that define how one or more Cost Items are to be registered, tracked, and managed within an Organization.

3. (noun) An Organization, or organizational unit, whose primary responsibility is to establish, oversee, and enforce the policies, standards, and controls governing the management of a set of Cost Items.