Mini Bio (1) George Timothy Clooney was born on May 6, 1961, in Lexington, Kentucky, to Nina Bruce (nÃ©e Warren), a former beauty pageant queen, and Nick Clooney, a former anchorman and game show host (who was also the brother of singer Rosemary Clooney). He has Irish, English, and German ancestry.
In effect, target costing is a proactive cost planning, cost management, and cost reduction practice whereby costs are planned and managed out of a product and business early in the design and development cycle, rather than during the later stages of product development and production.
The target cost and the target fee can be negotiated or can be determined in a competitive procurement. The target price is the target cost plus the target fee. These three items are listed in Section B of the contract. The minimum fee percentage and the maximum fee percentage is listed in the clause â 52.216-10.