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(TCM-2351) (Presentation Only) Total Cost Management Framework, Second Edition

Primary Author: H. Lance Stephenson, CCP FAACE
Audience Focus: Intermediate
Application Type: Practice
Venue: 2016 AACE International Annual Meeting, Toronto, ON, Canada

Abstract: The TCM Framework is a systematic approach to cost engineering and cost management, and provides the foundational basis that can be used in many industries and businesses. Whether you are in the pharmaceutical industry, oil and gas, commercial and institutional, or information technology (IT), the TCM Framework can be used as an effective and efficient approach to designing, building, and operating an asset.

The Total Cost Management Framework; An Integrated Approach to Portfolio, Program, and Project Management is considered the cornerstone document for AACE International. The TCM Framework continues to provide a structured, integrated overview of cost engineering which further guides and enhances AACE products.

This presentation provides the audience with an understanding of the TCM Framework, and introduces the two levels of the TCM process; the Strategic Asset Management (SAM) and Project Control (PC) processes. Finally, this presentation will provide the audience with a cursory understanding and identify the key requirements for establishing a leading position in applying a robust approach to project/product delivery.