Cost Decision Log

Prepared by: [YOUR NAME]

Date: [DATE]

The Cost Decision Log is designed to document decisions related to costs and budget adjustments for projects, operations, or strategic planning. Created by project managers, operations managers, or executives, this log helps track and analyze cost impacts to support effective financial management and planning.

Log Table

Date	Decision	Cost Impact	Rationale	Decision Maker
2050-07-23	Increase project budget by 10%	$50,000 increase	Additional resources required to meet project milestones	Sarah Johnson
2050-07-23	Cut marketing expenses by 15%	$20,000 reduction	Lower-than-expected campaign performance	Michael Lee
2050-07-24	Invest in new technology for operations	$75,000 investment	Technology expected to improve operational efficiency	Emily Davis
2050-07-24	Delay office renovation project	$30,000 deferred	Current budget constraints and shifting priorities	John Smith
2050-07-25	Outsource IT support to reduce costs	$40,000 annual savings	In-house IT costs exceeded budget	Laura White

Reminders

Update Regularly: Keep the log current by documenting all cost decisions and their outcomes promptly.
Review Cost Impacts: Regularly assess the financial impact of decisions to ensure alignment with budget goals.
Evaluate Rationale: Revisit the rationale behind decisions to verify their effectiveness and adapt as needed.
Communicate Changes: Inform relevant stakeholders about significant cost adjustments to maintain transparency.
Track Adjustments: Monitor budget adjustments and their impact on project and operational performance for continuous improvement.