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Total cost management (TCM) is the effective application of professional and technical expertise to plan and control resources, costs, profitability and risk. Simply stated, TCM is a systematic approach to managing costs throughout the life cycle of any enterprise, program, facility, project, product or service. The TCM Framework is a representation of that 'systematic approach."The TCM Framework is a structured, annotated process map that for the first time explains each practice area of the cost engineering field in the content of its relationship to the other practice areas including allied professions. As the book subtitled says, it is a process for applying the skills and knowledge of cost engineering. A key feature of the TCM Framework is that it highlights and differentiates the main cost management application areas: project control and strategic asset management.The TCM Framework is a significant, original contribution to the cost management profession applicable to all industries. It is an AACE International cornerstone technical document that joins the current body of knowledge literature for related fields such as project management, operations management, and management accounting. It is also consistent with the latest organizational and portfolio thinking which ties all practices and processes back to overall business strategies and objectives. As a "framework," this document is not a "how-to" instructional guide, but a conceptual representation that provides a structured, integrated overview of cost engineering.
Project Risk Quantification presents the most practical, realistic, and integrated approach to project cost and schedule Risk Quantification that is available today. It offers proven, empirically-valid methods and tools applicable to projects of all types and at all decision gates. The text is written for both the manager and the risk analysis practitioner. It will bring reliable accuracy and contingency determination to your capital project organization.
Innovation and cost management are the key requirements for companies to survive the current global economic crisis. Cost management not only leads to incremental performance improvement bur also to transformational change across the value chain. Cost management is viewed as part of a larger business process to influence decisions on pricing and profitability across several dimensions: product, customer, region, and distribution channel.In this book you can learn how your costing process aligns with industry best practices, and be on the leading edge of emerging practices such as value chain costing, shared services costing and outsourcing.This book also tells us how cost management and accounting are being put into practice.
AACE International is proud to offer Skills and Knowledge of Cost Engineering, 6th Edition. This Education Board publication provides comprehensive and in-depth information on a wide range of cost engineering subjects and will prove to be a valuable resource to any individual seeking professional growth or pursuing an AACE International certification. The authors of the individual chapters are well-known and well-respected members of the cost engineering community, who brought their knowledge and wealth of experience to the creation of this publication. This publication offers six sections comprising 34 chapters of content on topics such as cost estimating, project planning, value engineering, and strategic asset management, to name a few.
Written by a cost-control expert with more than thirty years of design and building expertise, this volume in the Professional Practice Essentials Series gives you practical, user-friendly guidance on how to better manager costs through all phases of a project. Dell'Isola first explains the basics of cost management-from estimating costs during the design phase to managing costs during construction and even after occupancy. He then covers all of the tools and techniques available to architects/designers and explains how best to use them. A number of useful case studies clearly show how the author's principles work in real-life situations.
AACE International's Planning and Scheduling Professional (PSP) Certification Study Guide was developed to aid professionals wishing to achieve AACE International's specialty certification in Planning and Scheduling. The study guide also summarizes various topics considered central to the planning and scheduling profession, as outlined in AACE International's Recommended Practice 14R-90, Responsibility and Required Skills for a Planning and Scheduling Professional, along with the current editions of the Skills and Knowledge of Cost Engineering and the Total Cost Management Framework.
The proper understanding and managing of project risks and uncertainties is crucial to any organization. It is of paramount importance at all phases of project development and execution to avoid poor project results from meager economics, overspending, reputation and environmental damage, and even loss of life. The Handbook of Research on Leveraging Risk and Uncertainties for Effective Project Management is a comprehensive reference source for emerging perspectives of managing risks associated with the execution and development of projects. Highlighting innovative coverage written by top industry specialists, such as complexity theory, psychological bias and risk management fallacies, probabilistic risk analysis, and various aspects of project decision making, this book is ideally designed for project and risk managers, project engineers, cost estimators, schedulers, safety and environmental protection specialists, corporate planners, financial and insurance specialists, corporate decision makers, as well as academics and lecturers working in the area of project management and students pursing PMP, PMI-RMP, ISO 31000, etc. certification.
The financing of modern construction projects reflects the need to address the costs and benefits of the whole life of the project. This means that end of life economics can now have a far greater impact on the planning and feasibility phases. During the project itself, decisions on construction materials and processes all influence the schedule as well as both immediate and down-the-line costs. Massimo Pica and his co-authors explain in detail the fundamentals of project life cycle economics and how they apply in the context of complex modern construction. This is an essential guide for those involved in construction project design, tendering and contracting; to help ensure the sustainability of the project or their contribution to it, from the start. It is also important for those involved in the delivery of the project to help them make the choices to keep the project on a financial even keel. Government, corporations and other organizations are looking for new models of collaborative working to fund their large construction and infrastructure projects in the face of changing attitudes to risk; a better educated and more demanding base of end-user clients and the increasing requirements for projects that are environmentally responsible and sustainable. Project Life Cycle Economics is a fundamental primer for those commissioning and those delivering construction.
AACE International's Certified Estimating Professional (CEP) Certification Study Guide, 2nd edition, summarizes the recommended study areas that candidates should review in preparing to take this AACE certification examination. The intent of the study guide is to assemble and summarize various topics considered essential for CEP knowledge, as outlined in AACE Recommended Practice 11R-88, Required Skills and Knowledge of Cost Engineering, and included in the current edition of AACE's Skills and Knowledge of Cost Engineering and the Total Cost Management (TCM) Framework.