Total Target Cost Definition
The Total Target Cost (TTC) is the name given to a project’s entire cost from conception to completion. It is composed of both the hard costs (design, construction, etc.) and the soft costs (permits, fees, etc.). The TTC is often used as a benchmark for project management and for comparing the cost of different projects.
A project’s TTC can be lowered by reducing its scope or by finding ways to reduce the cost of individual components. For example, a project’s TTC could be reduced by using cheaper materials or by eliminating unnecessary features. Reducing the TTC is often one of the main goals of project managers.
