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.
Introduction. The Cost Management Plan clearly defines how the costs on a project will be managed throughout the projectâs lifecycle. It sets the format and standards by which the project costs are measured, reported and controlled.