Definition. Project Cost Management is a group of processes required to ensure the project is completed within the approved budget. Processes. There are following processes which are part of Project Cost Management. Resource Planning; Cost Estimating; Cost Budgeting; Cost Control
The definition of an arbiter is someone who is either qualified to judge or chosen to decide something. Jennifer Lopez is an example of an arbiter for the television show American Idol. 1  a person selected to judge a dispute; umpire; arbitrator.  a person fully authorized or qualified to judge or decide.
arÂ·biÂ·trage. n. The simultaneous purchase and sale of equivalent assets or of the same asset in multiple markets in order to exploit a temporary discrepancy in prices. intr.v. arÂ·biÂ·traged, arÂ·biÂ·tragÂ·ing, arÂ·biÂ·tragÂ·es. To be involved in arbitrage.erb. 1. arbitrage-practice arbitrage, as in the stock market. commerce, commercialism, mercantilism-transactions (sales and purchases) having the objective of supplying commodities (goods and services). merchandise, trade-engage in the trade of; he is merchandising telephone sets.