AACE Bulletin
Bulletin Section News for December 2023
AACE International sections from around the world are encouraged to submit write-ups and photos of their monthly section meetings and other activities. For the December 2023 Source, submissions were received from the Russia Section.
Russia Section
The 12th Russia Section Workshop on Sept. 15 brought together project management professionals and experts in cost engineering. Traditionally, the workshop takes place next to a large PMSOFT project management conference, where large companies from Russia, Kazakhstan, and the Caspian Region gather to discuss practical cases and key global trends in implementing large capital projects. Workshop 2023 gathered more than 100 participants.
The event’s purpose is to provide a platform for the exchange of knowledge and discussion of the latest achievements and best practices in the cost management of projects, assets, products, programs, etc., at all stages of their life cycle.
The workshop featured insightful presentations by renowned specialists, covering topics such as global trends and challenges in cost engineering, value analysis, integrated risk, and cost analysis with an RP review, using machine learning to calculate contingency with systemic risks, and the role of technologies like BIM and AI in project management. During the fascinating discussions, the problems faced in the region and strategies for improving cost management were considered.
Attendees expressed enthusiasm for the interactive sessions and the opportunity to network with colleagues, fostering collaborative initiatives and sharing best practices. The event concluded with optimism and commitment to furthering advancements in cost engineering in Russia.
The most pressing issues discussed at the workshop were:
- The importance of improving the accuracy of cost estimation at early stages
- The need to develop value engineering practices in companies
- Formalization of decision-making processes and evaluation of the quality of project decisions
- The importance of independent external expertise for the project
- The need to increase the level of maturity of project teams and companies in general in the use of new technologies (AI, big data, ML, etc. ).
The section extends its gratitude to all participants, speakers, and organizers for their contributions to making this workshop a resounding success. The section would like to extend special thanks to international speakers Mark von Leffern, Werner Meyer, Danilo Arba, and Sean T. Regan for sharing their international experience and making our live event a huge success.
The AACE Russia Section Workshop continues to serve as a valuable platform. We look forward to future collaborations and progress with other regional sections and AACE headquarters.