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A Standard Cost Coding System is a system of cost classification that can be used for benchmarking cost and quantities data. In the Norwegian oil and gas industry, NORSOK Z-014 developed as part of the NORSOK standards. ISO is also developing a Standard Cost coding System as an extension of NORSOK Z-014 under ISO 19008.
Typically a Cost Classification system would be used to classify, activities, resources and product structure. In NORSOK Z-014, these classification taxonomies are called Standard Activity Breakdown (SAB), Code of Resources (COR) and Physical Breakdown Structure (PBS).
References
- Graham, John; Khan, Mesbah; Partridge, Chris. "NORSOK Z-014: A 21st Century Update".
{{cite journal}}: Cite journal requires|journal=(help) - "2013-09 - Tutorial - ONTOBRAS2013 - Case Study 5 - Modernising NORSOK SCCS — boro group". www.borosolutions.co.uk. Retrieved 2016-12-01.