Cost Management in Translation

Abstract

Translation management is a modern approach toward translation industry in order to improve performance, quality and to reduce the use of resources such as human resources, cost and time. In this study, the main goal is to identify the standard cost management procedures and to apply cost management knowledge to translation studies. The study is based on Project Management Institute (PMI) standards which consist of 9 different management knowledge areas such as time, cost, procurement, quality, human resources, integration, communication, and risk management. The findings are expected to shed some light on cost management and its related issues in translation studies.