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Level: Intermediate
TCM Section(s):
1.2. Purpose and Uses of the TCM Framework
11.2. People and Performance Management
Venue: 2020 AACE International Conference & Expo
Abstract: Representatives of the AACE International Total Cost Management (TCM) Framework are often seen as experts on all things related to cost engineering. In reality, there are many working in the TCM domain that still do not understand every aspect of this discipline.
While it may not be necessary in an individuals’ role to understand how everything works in the realm of cost engineering, the disciplines have a responsibility to understand how each role fits into the larger arena. For instance, how does estimating impact scheduling? Why is document control so important to the change order process? Where does each role fit within the cost engineering function and why?
These are questions that can be answered by understanding what cost engineering really means and how each element within it is interrelated. This paper will provide a high-level framework of this interconnectedness and basic definitions of the roles within cost engineering with a focus on function, relationships and flow of information over the lifecycle of a typical project.
TCM Section(s):
1.2. Purpose and Uses of the TCM Framework
11.2. People and Performance Management
Venue: 2020 AACE International Conference & Expo
Abstract: Representatives of the AACE International Total Cost Management (TCM) Framework are often seen as experts on all things related to cost engineering. In reality, there are many working in the TCM domain that still do not understand every aspect of this discipline.
While it may not be necessary in an individuals’ role to understand how everything works in the realm of cost engineering, the disciplines have a responsibility to understand how each role fits into the larger arena. For instance, how does estimating impact scheduling? Why is document control so important to the change order process? Where does each role fit within the cost engineering function and why?
These are questions that can be answered by understanding what cost engineering really means and how each element within it is interrelated. This paper will provide a high-level framework of this interconnectedness and basic definitions of the roles within cost engineering with a focus on function, relationships and flow of information over the lifecycle of a typical project.