About this Professional Guidance Document:
The AACE Decision and Risk Management Subcommittee began planning an RP series in 2007 with the initiation of a project to develop the Decision and Risk Management Professional (DRMP) certification. An early challenge the team of subject matter experts (SMEs) faced was which of the existing QRA methods to recommend. QRA is an evolving field of practice and not settled science. The approach selected was to first establish the principles that any recommended practice should follow (re: RP 40R-08). Then each candidate method was compared to how well it met the principles. Only a limited set of methods met the criteria.
About AACE Professional Guidance Documents:
Professional guidance documents (PGDs) provide roadmaps to improve use and understanding for collections of related AACE International® (AACE) recommended practices (RPs). They provide clarification on their purpose, function, context, and inter-relationships so that users can locate and focus on those RPs that best meet their requirements. The PGDs also highlight in-progress and preliminarily planned RPs to inform and guide AACE RP development (contact the Decision and Risk Management (DRM) Subcommittee Chair if interested in RP development). A hyper-linked format is used instead of publishing a standard text (which would have hundreds of pages of content).
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