The purpose of this study is to evaluate the application of a web-based cost management competency enhancement program (Web-CMCEP) on nursing students. Medical services are limited and essential for maintenance of human basic life. In order to improve the quality of human life, cost management competency that enable efficient allocation of medical resources are essential. This study adopts a randomized controlled pre/post repeated measure design. The sample comprised 39 nursing students in the web-group and 35 in the textbook-group. Experimental group and control group learned respectively with Web- CMCEP and textbook for 4 weeks. The research variables were measured at 4 times: pre, post, after 4 weeks of intervention, and after 8 weeks of intervention. Data were analyzed using χ2 -test, t-test, paired t-test, repeated measures ANOVA, Friedman test, and Wilcoxon signed rank test. Significant differences were found in cost management knowledge. The web-group showed higher cost management knowledge than the text-group. At different measuring points, the Web-CMCEP led to significant increases in the following: cost management knowledge, cost management attitude, cost management behavior, cost management self-efficacy, and entrepreneurship. Based on the findings, we suggested utilizing the Web-CMCEP as a prototype in developing education programs to improve nursing students’ cost management competency and to support nursing start-ups.