Level: Intermediate
TCM Section(s):
7.3. Cost Estimating and Budgeting
Venue: 2023 AACE International Conference & Expo
Abstract: AACE International has published many recommended practices (RPs) on estimate classification as applicable to various industry sectors. In addition, AACE publishes an online document, the Professional Guidance Document to Estimate Classification, that provides an overview and discusses key concepts and principles. Unfortunately, estimate classification RPs continue to be misapplied in basis of estimate documents, as well as in claims and dispute documentation. This presentation will identify several typical ways in which the estimate classification RPs are misrepresented and will provide clarifications and suggest verbiage that may be used when attempting to refer to estimate classification concepts.
TCM Section(s):
7.3. Cost Estimating and Budgeting
Venue: 2023 AACE International Conference & Expo
Abstract: AACE International has published many recommended practices (RPs) on estimate classification as applicable to various industry sectors. In addition, AACE publishes an online document, the Professional Guidance Document to Estimate Classification, that provides an overview and discusses key concepts and principles. Unfortunately, estimate classification RPs continue to be misapplied in basis of estimate documents, as well as in claims and dispute documentation. This presentation will identify several typical ways in which the estimate classification RPs are misrepresented and will provide clarifications and suggest verbiage that may be used when attempting to refer to estimate classification concepts.