I joined AACE In August 1999 – in AACE years that could be perceived as a hot minute after Christian and Marvin which may or may not be pictured here. Only kidding of course, they weren’t in New Hampshire in 1956 with our great founding members. When I started at AACE, there were limitations on how long any staff member was supposed to be connected to the internet…
Meet the Staff: Jennie Amos Read More »
The Board met in October to review our strategic plan. This was our annual check-in to validate for ourselves that the objectives we outlined as an organization are still relevant, and the tactics we have put in place are achieving progress. I’m happy to report that one outcome from this meeting was a consensus that our strategic plan is sound and valid for the facilitation of our Association’s mission and vision. To date, the work of our Association staff and volunteers to implement and execute the plan’s tactics is showing demonstrable evidence that the objectives of our plan are being met. I couldn’t be prouder of us as an Association…
Strategy Alone Won’t Bring the Change We Seek Read More »
This recommended practice (RP) of AACE® International defines a tabular, risk-driven method for establishing predetermined cost estimate accuracy range and contingency values based on industry parametric risk quantification models. It uses the RAND Corporation (RAND) parametric cost risk model from AACE RP 43R-08, Risk Analysis and Contingency Determination Using Parametric Estimating – Example Models as Applied for the Process industries, to illustrate the method and develop example tables…
Before joining AACE, my professional background was primarily in Human Resources. I have discovered Association work is more meaningful to me because I feel like I am helping others achieve their goals and dreams. Also, as a mom, I want to show my daughters than you can balance a career and motherhood in a healthy environment. AACE’s culture grants me the privilege of having work-life harmony…
Sara Peters – Helping Others Achieve Their Goals and Dreams Read More »
It’s an exciting new era for the AACE certification program! The journey began in January 2022 when the AACE International Certification Institute was formally incorporated. The Institute’s volunteer Board of Directors was tasked with developing the required fundamental and foundational governing documents. I can report, with pride, all official documents were completed, properly approved, and appropriately filed with state and federal agencies…
An Exciting Future for AACE Certifications Read More »
This recommended practice (RP) defines general practices and considerations for inherent cost risk analysis and estimating contingency using a cost estimate ranging analysis with the Monte Carlo simulation (MCS) method. The method is only recommended for quantifying inherent cost uncertainty when the project scope is well-defined (i.e., Class 3 or better) and when the project has no new technology and minimal complexity. In all cases, the method is not to be used alone when there are significant project-specific risks (e.g., contingent risks or events). The method is applicable to two situations…
Morgantown West Virginia students recently were treated to a behind the scenes look at how a game day at the WVU Stadium is powered. One of the goals of the event was to give the students a look at potential future career opportunities…
Morgantown STEM/STEAM Students Learn What Powers a WVU Game Day Read More »
Change is hard. Humans are habit-forming creatures such that when we are comfortable, we like to stay where we are. The same goes for our careers: once we are established in a company, well recognized by our peers, get paid well, or have become the experts in our field, taking a leap of faith and do something different is not an easy feat…
Being Your Own Boss – A Story of Courage and Continuous Learning Read More »
Mr. Cressman joined AACE in 1982. He has served on Section Boards, as well as the AACE Board of Directors. He obtained the CCE in 1982 and the EVP in 2012. He has served as the Vice President of TEC, as well as a local section president, VP, and treasurer. Mr. Cressman was the initial sponsor of the Rising Professionals Committee. He is currently a member of the Education Board…
AACE Introduces Ken Cressman – Online Learning Subcommittee Chair Read More »
This recommended practice (RP) of AACE International (AACE) defines a quantitative risk analysis (QRA) maturity model (QRAMM) for assessing the level of capability for quantifying the uncertainty and risks associated with projects, programs, and portfolios within the risk management (RM) function of a capital investment or project management organization. Maturity models for general risk management are widely published, but less common for the QRA step of RM processes such as presented in Chapter 7.6 of the AACE Total Cost Management (TCM) Framework. This RP is intended to fill that gap…
New AACE Recommended Practice Fills Gap in Quantitative Risk Analysis Maturity Model Read More »