About Recommended Practice 137R-25:

This RP defines the term owner’s costs as used in capital project cost estimating and project control. It also provides a code of accounts structure guideline for owner’s costs. The RP also discusses considerations for effective estimation of and accounting for these costs. In summary, the main objectives of this RP are to improve business, project team and stakeholder communication by:

1. Providing a common industry reference definition

2. Providing a guideline for a code of accounts structure

3. Documenting considerations for effective estimation of and accounting for these costs

This RP is focused on engineering and construction (E&C) type projects and excludes non-E&C projects such as information technology, research and development, aerospace, and defense. However, the principles of organizational breakdowns in a code of accounts are generally applicable across industries.

About AACE Recommended Practices:

The AACE International Recommended Practices (RPs) are a series of documents that contain valuable reference information that has been subject to a rigorous review process and recommended for use by the Technical Board. RPs are intended to be the main technical foundation of AACE educational, and certification products and services. All RPs are available to AACE members free of charge.

We would like to thank our sponsor, Contruent, for hosting this webinar. Their continued support helps us bring valuable insights and resources to our professional community.

About our Sponsor - Contruent

Contruent is more than a new name, it’s a bold new chapter in lifecycle cost management and capital project controls. Formerly known as ARES PRISM, Contruent builds on over 30 years of proven experience to empower Owners and Engineering & Construction (E&C) firms to deliver large-scale capital programs and megaprojects with unprecedented precision and speed.

NOTE: The webinar is free, but registration is required. CEUs will be available for both members and nonmembers. You will need to create an AACE International account prior to registering if you do not already have one. Click here and then choose 'Get Started' to create your AACE account.