homage. n. 1. a public show of respect or honour towards someone or something (esp in the phrases pay or do homage to). 2. (Historical Terms) (in feudal society). a. the act of respect and allegiance made by a vassal to his lord. See also fealty.
Cost management is the process of planning and controlling the budget of a business.
Main author. Cost control in building design and construction. A development budget study is undertaken to determine the total costs and returns expected from the project. A cost plan is prepared to include all construction costs, all other items of project cost including professional fees and contingency.