A prospective cost is a
cost
In production, research, retail, and accounting, a cost is the value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore. In business, the cost may be one of acquisition, in whic ...
that may be incurred or changed if an action is taken: Whether or not the cost is paid depends on some action. Prospective costs can lead to unintended loss and positive or negative results for the stakeholders,
[Eltinge, J. L. (2007). Evaluation of prospective benefits, costs and risks of standards for statistical programs. Section on Survey Research Methods.] and can be contrasted with
sunk costs
In economics and business decision-making, a sunk cost (also known as retrospective cost) is a cost that has already been incurred and cannot be recovered. Sunk costs are contrasted with '' prospective costs'', which are future costs that may be ...
, which are costs that have already been incurred.
References
Costs
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