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114R-20: Project Historical Database Development

114R-20: Project Historical Database Development
AACE International, April1, 2021

Price: $0 (Member) / $100 (Non-Member)

This recommended practice (RP) of AACE® International defines the basic elements of and provides broad guidelines for evaluating, developing and maintaining project historical data management systems (i.e., a database). The intended audience is any organization considering a new implementation or a significant improvement in capital project historical database maturity (a database maturity model is included). Some organizations have integrated processes and data in place, and as such, an historical database may be a relatively small step; the RP’s length is driven by the needs of organizations with less mature information frameworks or in need of significant improvement. Use the parts of the RP that apply to one’s situation.

Database implementation and improvements are accomplished by executing process improvement projects. However, this RP is not about how to execute such a project. Instead, it describes the main elements that should be considered in defining the database project scope including considering the database life cycle operation and management. It provides a basis or a framework for planning.

This industry-generic RP is aligned with the Total Cost Management (TCM) Framework. In TCM, asset and project historical database management processes are covered in Chapters 6.3 and 10.4 respectively. Every process map in TCM connects to the database processes because learning and using information from history is critical to every strategic asset management and project control process and function. In addition, this RP addresses the needs of owners, contractors, consultants, agencies and others with a myriad of potential uses for project estimated and/or actual data.

This RP focuses on supporting use in project cost estimating, schedule planning and development, and risk management. However, databases may also support resource planning, project system benchmarking and performance improvement, forensic analysis, and other processes in TCM.

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