1 Just let me say that this encounter has been entirely professional and most helpful. 2  I liked that I could ask additional questions and get answered in a very short turn around. 3  Esther Woodstock, NY. 4  Thank you so much for taking your time and knowledge to support my concerns.
A project's initial costs are those that are incurred during the design and construction process. They can include any of the following: 1  Planning, preliminary engineering, and project design. 2  Environmental impact report. 3  Project-related staff training.  Final engineering.
Explicit Cost is the cost which is actually incurred by the organization, during production. On the other hand Implicit Cost, are just opposite to the explicit cost, as they are not directly incurred by the organization, but they are implied in nature which do not involve cash payment.