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AACE International News (Recommended Practices, as on February and March 2022))


Recommended Practice News

The public review process for all Recommended Practices is via the AACE Communities. AACE welcomes public review, comment and dialog for RPs under development. The public review utilizes the knowledge of subject matter experts that have specific industry experience and perspective in order to help strengthen RP quality. The public review period for RPs is 45 days. Please tell your colleagues about this open review period and encourage them to provide their feedback on an industry wide document.

Recommended Practices are free for members. Each RP is $100 for non-members. 

 

Recommended Practicesの公開レビュープロセスは、AACEコミュニティで行われます。 AACEは、整備中のRPの公開レビュー、コメント、意見交換を歓迎します。 パブリックレビューでは、RPの品質を強化するために、特定の業界経験や視点からの、対象分野の専門家の知識を活用します。 RPの公開レビュー期間は45日です。 この公開レビュー期間について広く伝えていただき、業界全体からのフィードバックができれば良いと考えています。

 

今回は以下7つの案内です。

  • 108R-19: Accounting Considerations in Cost Control
  • 14R-90: Required Skills and Knowledge of Planning and Scheduling
  • New and Revised Terms and Definitions (10S-90)
  • 41R-08: Understanding Estimate Ranging
  • 62R-11: Risk Assessment: Identification and Qualitative Analysis
  • New Recommended Practice  RP 121R-21, Required skills and knowledge of project risk management (PRM)
  • Recommended Practice - Public Review  RP 124R-22, Project Code of Accounts – As Applied in the Environmental Remediation Industries

 

 


(Public Review Draft)

108R-19: Accounting Considerations in Cost Control

 

Recommended Practice 108R-19 has been posted for public review and comment until April 4, 2022. This is a proposed new RP.

(Public Review Draft)

14R-90: Required Skills and Knowledge of Planning and Scheduling

 

Recommended Practice 14R-90 has been posted for public review and comment until April 5, 2022. This is a proposed revised RP.

 

New and Revised Terms and Definitions (10S-90)

 

The following revisions have been made to RP 10S-90, Cost Engineering Terminology. Go to the link for more information:

  • Constructability (revised)
  • Manufacturability (new)
  • Operability (new)

RP 10S-90 now contains 1,655 terms with definitions and is free for members and the general public. 

Revised RP 41R-08: Understanding Estimate Ranging

 

The RP now describes and provides considerations for a general class of estimate ranging quantitative risk analysis (QNRA) methods. It also directs readers to other estimating ranging related references and QNRA methods. AACE® International (AACE) RPs are living documents that evolve. At times an RP no longer addresses industry expectations and needs and/or is superseded by industry or practice changes that are best addressed in new RPs rather than editing an existing one. Such is the case for the former RP 41R-08, Risk Analysis and Contingency Determination Using Range Estimating.

 

Revised RP 62R-11: Risk Assessment: Identification and Qualitative Analysis

 

This recommended practice (RP) of AACE International defines the expectations, requirements, and practices for identifying and qualitatively analyzing uncertainty and risk drivers as part of the overall risk management process. It expands on the first two tasks of the TCM Framework section 7.6.2.2 Risk Assessment; i.e., Risk Identification and Qualitative Risk Analysis, covering common practices and tools such as brainstorming, interviews, and checklists. It also covers documentation for and the deliverables from the assessment process step (e.g., risk register). 

New Recommended Practice 

RP 121R-21, Required skills and knowledge of project risk management (PRM)

 

 

This recommended practice (RP) is intended to serve as a guideline, not a standard. As a recommended practice of AACE International, the intent of the guideline is to define the required skills and knowledge to perform project risk management (PRM). 

Recommended Practice - Public Review 

RP 124R-22, Project Code of Accounts – As Applied in the Environmental Remediation Industries

 

 

Recommended Practice 124R-22 has been posted for public review and comment until April 15, 2022.