Source Extra – Source https://source.aacei.org Source Thu, 19 Dec 2024 16:10:15 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://source.aacei.org/wp-content/uploads/2020/12/AACE-Site-Icon.gif Source Extra – Source https://source.aacei.org 32 32 AACE Fellow Announced https://source.aacei.org/2024/12/19/aace-fellow-announced/ https://source.aacei.org/2024/12/19/aace-fellow-announced/#comments Thu, 19 Dec 2024 16:10:10 +0000 https://source.aacei.org/?p=9795

Shoshanna Fraizinger, CCP FAACE

Fellow: The membership grade of Fellow is a selective and prestigious honor for the recipients. Approval of Fellow is in recognition of professional attainment and significant accomplishment in cost management or cost engineering. Fellows are designated by the following acronym: FAACE. Nominees are vetted by the Fellow Admissions Committee and recommended for approval of a majority vote by the Board of Directors. The criteria used in awarding Fellow classifications are: Professional attainment based on contributions to the professional advancement of cost management, cost engineering, or the engineering profession and valuable service to AACE International; and contributions to the knowledge of the profession and dissemination of that knowledge based on publications, presentations, and bringing cost management/cost engineering to industry, educational institutions, forums, or government agencies.

Shoshanna Fraizinger, CCP FAACE – Shoshanna joined AACE in 2024.  She earned the Certified Cost Professional (CCP) designation in 2017. Shoshanna has served in a variety of leadership roles on the AACE Board of Directors, including Director-Education (2019-2021), President-Elect (2021-2022), AACE President (2022-2023), and Past President (2023-2024). She was a member of the AACE Education Board (2018-2021) and served the last three years of her term as the Education Board Chair. She has previously served as the chair of the Nominating and Awards Committees (2023-2024) and as the Bruce County Section President (2018-2020). Shoshanna is currently serving the Estimating Subcommittee as Chair (2024-present) and has been an associate member of the AACE Technical Board since 2023. She is a frequent author/presenter at the AACE Conference & Expo. Shoshanna is the president of her own company, Shoshanna Fraizinger Consulting, and currently works for Sargent & Lundy in Ontario, Canada, supporting the Bruce Power project services and program support project.

]]>
https://source.aacei.org/2024/12/19/aace-fellow-announced/feed/ 1
AACE International Appoints Michael T. Kobylka II, CAE as New Executive Director/CEO https://source.aacei.org/2024/12/03/aace-international-appoints-michael-t-kobylka-ii-cae-as-new-executive-director-ceo/ https://source.aacei.org/2024/12/03/aace-international-appoints-michael-t-kobylka-ii-cae-as-new-executive-director-ceo/#respond Tue, 03 Dec 2024 19:08:34 +0000 https://source.aacei.org/?p=9767

AACE International Appoints Michael T. Kobylka II, CAE as New Executive Director/CEO

Fairmont, WV – 3 December 2024 – AACE International, the leading organization for the advancement of project controls and the cost management profession, is pleased to announce the appointment of Michael T. Kobylka II, CAE, as its eleventh Executive Director and Chief Executive Officer in the organization’s 68-year history.

Mike Kobylka brings a wealth of experience and a proven track record in leadership, governance, and strategic planning, having most recently served as the Director of Leadership, Governance, and Strategy for the Association of Builders and Contractors (ABC). At ABC, a national association representing over 23,000 merit shop construction and construction-related firms across 67 chapters, Kobylka played a key role in advancing the interests of a diverse membership encompassing all specialties within the U.S. construction industry.

Kobylka’s educational credentials include a Bachelor of Arts in Political Science from John Carroll University (OH) and a Master of Business Administration from Ashland University (OH). Additionally, he is a Certified Association Executive (CAE), underscoring his commitment to professional excellence in the association management field.

In his new role at AACE International, Kobylka will lead the organization in its mission to provide education, certification, and networking opportunities that empower professionals in project controls and cost management. His strategic vision is expected to enhance AACE’s outreach, improve member engagement, and strengthen the organization’s position as the authoritative voice in the industry.

“AACE International is thrilled to welcome Mike as our new Executive Director and CEO,” said AACE International President Scott A. “Gator” Galbraith, PE CFCC. “His extensive association leadership experience and passion for fostering professional development aligns perfectly with our mission. We are confident that AACE will continue to grow and innovate in serving our members and the industry under his guidance.”

“I am honored to step into the role of Executive Director/CEO for AACE International, an organization with a storied history of advancing cost engineering and project management excellence,” stated Kobylka. “I am excited to work alongside our dedicated members and staff to drive innovation, strengthen our global impact, and continue delivering exceptional value to the industries we serve.”

Kobylka will officially assume his position on December 2.

For more information about AACE International and its initiatives, please visit www.aacei.org. 

About AACE International: Established in 1956, AACE International is the Association for the Advancement of Cost Engineering. AACE International is the leading organization dedicated to advancing the project controls profession and providing resources for professionals engaged in cost management and project planning. Together with the AACE International Certification Institute, it serves over 10,000 members and certificants in 100 countries. Cost Engineering is a field of study using integrated means and methods to enable sound decision making in enterprise asset management. 

Media Contact:

Jennie M. Cunningham-Amos
Director: Governance, Marketing, & Meetings
AACE International
304.296.8444 x1106
jamos@aacei.org

]]>
https://source.aacei.org/2024/12/03/aace-international-appoints-michael-t-kobylka-ii-cae-as-new-executive-director-ceo/feed/ 0
Unlock Your Expertise with the Relaunch of the Decision & Risk Management Professional (DRMP) Certification Exam https://source.aacei.org/2024/11/12/unlock-your-expertise-with-the-relaunch-of-the-decision-risk-management-professional-drmp-certification-exam/ https://source.aacei.org/2024/11/12/unlock-your-expertise-with-the-relaunch-of-the-decision-risk-management-professional-drmp-certification-exam/#comments Tue, 12 Nov 2024 06:00:00 +0000 https://source.aacei.org/?p=9708

Unlock Your Expertise with the Relaunch of the Decision & Risk Management Professional (DRMP) Certification Exam

The AACE International Certification Institute’s Certification Board is excited to announce that the DRMP certification examination is officially open for registration after a two-year restructuring. This expertise-level certification, long considered a benchmark for excellence in cost engineering and project controls, has been reimagined to reflect our profession’s evolving landscape better and ensure it continues to set a high standard for professional expertise.

The decision to pause the exam was to provide time and devote resources to update the content and structure since launching AACE’s Project Risk Management Professional (PRMP), the professional level certification in 2021 – which was borne out of the DRMP exam. During the restructuring period, the DRMP Committee worked closely with leading experts and industry partners to ensure the restructured certification remains relevant in today’s dynamic risk management environment that reaches numerous industries.

What’s New?

  • Updated Content: The revamped exam now includes the latest developments in decision and risk management, ensuring that certified professionals are current with the skills and knowledge that matter most at the highest levels of responsibility.
  • Improved Delivery: We’ve made the certification more accessible by offering in-person testing and secure online options through remote proctoring, allowing candidates to choose the best schedule and location for the exam.
  • Refined Domain Structure: Domain 1 focuses on basic cost engineering and statistics. Domain 2 will allow test candidates to choose a memo based on their preference for a risk—or decision-based scenario. Domain 3 focuses on complex decision and risk management practices scenarios. Domain 4 focuses on general decision and risk management practices. These enhancements aim to provide a practical, hands-on assessment of critical skills.
  • Revised Recommended Practice: RP71R-12 has been updated to reflect an extensive list of all relevant RPs, PPGs, and PPDs published since the first edition in June 2013.
  • Revised DRMP Study Guide: This has been updated to include changes made to the examination, references, and recommended practice.

The DRMP has long been a prestigious credential within our community, and AACE’s relaunch ensures it continues to hold that reputation. Those who earn this certification demonstrate mastery of critical skills, a commitment to professional development, and excellence in executing responsibilities.

Do you want to be a DRMP?

The first thing you must do is understand if you’re eligible. The eligibility requirements are:

  • 4-year college or university degree*
  • 4 years of industry-related experience
  • 4 years of experience (does not need to be continuous) directly related to the field of decision and risk management, with at least 18 months of recent experience required, demonstrated by providing any combination of the following:
      • Three (3) letters of recommendation from a client (past or present) describing the project’s complexity, the type of risk management implemented, and the candidate’s role in implementing or providing such risk management services. All letters submitted must include the time the candidate spent on decision and risk management tasks. If three letters of recommendation and no work products are submitted, those durations must sum to 4 years of combined experience.
      • Three (3) work products personally produced by the candidate that demonstrate having performed any aspect of the risk management work (decision analysis, schedule and cost risk analyses, implementation of risk management programs, risk workshops, etc.) on their projects to sum 4 years. The candidate must demonstrate they were the primary author/contributor in developing the work product. Merely being a junior-level participant or member of a larger team without being the lead is not an adequate demonstration of a senior-level practitioner with leadership responsibility. NOTE: A candidate may provide a total of three (3) letters of recommendation or three (3) work products, or a combination of two (2) letters of recommendation and one (1) work product, or a combination of one (1) letter of recommendation and two (2) work products, etc.

Depending on the combination that works for your application, remember that at least one recommendation letter or work product must demonstrate recent experience within the past 18 months.

* Applicant may substitute a 4-year of college degree with an additional 4 years of industry related experience or one of the following professional certifications: AACE’s CCP; CEP; EVP; PSP; Certified Construction Manager (CCM); Certified Professional Constructor (CPC); Professional engineer (PE); Registered Architect (RA); or Chartered Surveyor.

Registration is now open for all eligible candidates. When you are ready to register, click here. For step-by-step instructions for creating your application, click here.

Thank you for your continued support and commitment to excellence within the AACE International Certification Institute.  We look forward to seeing many of you achieve this highly valued credential and to celebrating your career successes.

]]>
https://source.aacei.org/2024/11/12/unlock-your-expertise-with-the-relaunch-of-the-decision-risk-management-professional-drmp-certification-exam/feed/ 8
New Recommended Practice 131R-23: Introduction to Fault Tree Analysis for Projects https://source.aacei.org/2024/10/22/new-recommended-practice-131r-23-introduction-to-fault-tree-analysis-for-projects/ https://source.aacei.org/2024/10/22/new-recommended-practice-131r-23-introduction-to-fault-tree-analysis-for-projects/#respond Tue, 22 Oct 2024 16:15:36 +0000 https://source.aacei.org/?p=9629

New RP 131R-23: Introduction to Fault Tree Analysis for Projects

This document is intended to provide a guideline, not a standard, for using fault tree analysis (FTA) to improve the quality of the outputs of the project or product by providing a comprehensive and systematic way to identify, assess, and prioritize risks. FTA enhances a decision-maker’s understanding of the complex relationships regarding potential risks or failure points that should be addressed to improve or optimize project outcomes. This document further provides practitioners with the opportunity to improve the reliability of design and to improve the quality by reducing potential failures. Examining what would potentially cause the product to be less reliable is also related to decision analysis. For an organization that executes capital projects, the FTA is also applicable in providing insight into performing other analyses, such as:

  • Functional analysis of highly complex systems
  • Evaluation of safety requirements and specifications
  • Evaluation of system reliability and the identification of potential design defects and safety hazards
  • Simplification of design to support operations and maintenance requirements (for lifecycle cost analysis)
  • Evaluation of human interfaces (project teams and systemic risks)

System failure analysis is an overarching process that includes different techniques, which include fault tree, logic tree, fishbone diagrams, failure mode and effects analysis, etc. Fault tree analysis is just one tool that can be used in system failure analysis. With that said, this RP is intended to introduce the purpose and basic methods of developing a fault tree, calculating the consequence for the failure of the overall system (called the top event) given the structure of the tree and the probability (P) that the building block elements (called gates and events) occur, and identifying the most important sources of potential failure for inspection and action.

FTA is a deductive, top-down method aimed at analyzing the effects of initiating faults and events on a complex system and is defined as “a risk analysis method used to evaluate risk threats employing a deductive logic tree linking a parent event to the combinations of sub-events that could cause it.” A fault tree is not the same as an event tree analysis. Fault trees assist project teams in examining undesired events, identifying the cause(s) leading to potential failures, and determining how to prevent them in the future.

Fault tree analysis necessitates a robust level of engineering that accurately represents events and their interactions. This requires an engineering framework that delineates basic events and their interactions, enabling the construction of the fault tree. Even in early partial designs, FTA can identify major causes of system failure, guiding engineering efforts to mitigate these issues, for example, by incorporating backup systems for failure-prone events.

Using the FTA methods described in this RP assists in asset planning. These planning efforts include the optimization, optioning, and value-engineering assessments of the equipment and systems. This further includes improving the quality of the design to ensure the operability, reliability, and maintainability of the asset(s). Asset planning, value engineering, and quality management all support risk management functions. These efforts ultimately determine the lifecycle cost of the equipment, systems, etc., which supports the decision to invest in the asset.

Contributors:

Dr. David T. Hulett, FAACE (Primary Contributor)
Lance Stephenson, CCP, FAACE Hon. Life (Primary Contributor)
James E. Arrow, DRMP
Tim Boatwright, EVP
Francisco Cruz, CCP
Larry R. Dysert, CCP CEP DRMP FAACE Hon. Life
Rafi Polak
John R. Schuyler, CCP DRMP
Pei Tang, PRMP PSP

About David:

Dr. David T. Hulett, FAACE is a Principal with Hulett & Associates, LLC, and has focused for the last 28 years on quantitative schedule risk analysis, integrated cost-schedule risk analysis, and project scheduling best practices. He has conducted many risk analyses, focusing on quantifying the risks and their implications for project cost and schedule, and many schedule assessments.

David has held strategic planning positions at TOSCO, an oil company, and at TRW in aerospace and defense. In the federal government, he managed offices in the Federal Energy Agency (FEA), the Department of Energy (DOE), and the Office of Management and Budget (OMB). He was an economist with the Federal Reserve Board of Governors. Dr. Hulett was also an Instructor in the Economics Department at Harvard University.

Dr. Hulett is a contributor to 11 recommended practices, with three as the primary contributor. He has authored two books, Practical Schedule Risk Analysis and Integrated Cost-Schedule Risk Analysis, as well as numerous articles for AACE.  David is a frequent presenter at AACE’s annual conference and expo, and the current Vice-Chair of the Decision and Risk Management Technical Subcommittee.

Dr. Hulett was elected as a Fellow of AACE International in 2015 and received the Brian D. Dunfield Educational Service Award from the Association in 2018. He holds a Ph.D. in Economics from Stanford University. You may reach David at: david.hulett@projectrisk.com

About Lance:

Lance Stephenson, CCP FAACE Hon. Life joined AACE in 1999 and obtained the designation as a Certified Cost Professional in 2003. He has served AACE as a member of the Technical Board since 2007. He is the editor of the TCM Framework, 2nd Ed. and is in the top 10 contributors to the AACE recommended practices. He has authored/presented more than 30 papers at the AACE Conference & Expo – in addition to presentations he has done for other organizations. Lance served the TCM Analytics Technical Subcommittee as chair (2020-2021) and, since 2021, has been the chair of the Decision Science and Advanced Analytics Technical Subcommittee. He has previously been recognized by AACE with the Technical Excellence Award (2011), as a Fellow (2014), and the TCM Excellence Award (2016). A senior leader and manager with over 35 years of experience in the operational, portfolio, program, and project delivery environment, Lance is the Director of Operations at AECOM. You may reach Lance at: lance.stephenson@aecom.com

This new RP may be found here: 131R-23: Introduction to Fault Tree Analysis for Projects

]]>
https://source.aacei.org/2024/10/22/new-recommended-practice-131r-23-introduction-to-fault-tree-analysis-for-projects/feed/ 0
In Memoriam, October 2024 https://source.aacei.org/2024/10/14/in-memoriam-october-2024/ https://source.aacei.org/2024/10/14/in-memoriam-october-2024/#respond Mon, 14 Oct 2024 16:54:04 +0000 https://source.aacei.org/?p=9609

In Memoriam

Dr. Patricia Galloway

June 14, 1957  –  September 26, 2024

Pat’s company released the following:

In Honor of Dr. Patricia Galloway

It is with great sadness that we announce the passing of Pegasus-Global Holdings’ Co-Founder and Co-Chair. Dr. Patricia Galloway, who passed away unexpectedly on Thursday, September 26, 2024, in the company of family and beloved friends. She lost her courageous battle with pancreatic cancer.

Pat was an AACE International member since 1986. She was a Certified Forensic Cost Consultant (CFCC) and had been on the committee that created and developed this certification. She was also named an AACE Fellow.

Dr. Galloway leaves behind a monumental legacy as a renowned leader in civil engineering, gigaproject construction, and dispute resolution.

Her extensive experience as CEO for The Nielsen-Wurster Group and Pegasus-Global Holdings included large and complex projects throughout the world such as the Panama Canal Expansion, London’s Crossrail Project, Vogtle Nuclear Units 1, 2, 3 & 4, Kuala Lumpur International Airport and many, many more.

Dr. Galloway also served as an arbitrator since 1987 in many U.S. domestic and international arbitrations and dispute resolutions. She was recognized by her peers as a Fellow of the College of Commercial Arbitrators, becoming the first non-lawyer to be elected to the College, a Fellow and a Chartered Arbitrator of the UK Chartered Institute of Arbitrators and a member of the Distinguished Academy of Neutrals.

Throughout her career, Dr. Galloway lent her skills and expertise to a broad portfolio of corporate, community and government boards. Highlights include serving as the first woman President of the American Society of Civil Engineers in 2004 and serving as a member of the U.S. National Science Board having been appointed by U.S. President Bush for a six-year term with two of those years as its Vice Chair. She also served on boards for the SCANA Corporation, Bergmann and Associates, the American Arbitration Association, the Central Washington University Foundation Board of Trustees, the Pacific Science Center, and the Pan American Academy of Engineering.

At the time of her passing, Dr. Galloway was serving on the boards of Pegasus-Global Holdings, Stantec, Granite Construction and Life Support (a local not-for-profit).

Dr. Galloway was a prolific writer and world-renowned speaker, having authored over 130 papers, approximately 30 peer-reviewed journal articles, and nearly 200 public speaking engagements, including over 45 keynote addresses. She served as a guest lecturer at multiple universities across the globe from Australia to China to Europe and here in the United States.

Dr. Galloway’s achievements were highlighted by her TEDx talk on “Are Engineers Human?” and on a variety of media outlets such as Sky News Australia TV, ADR Perspectives, PM Network, Time magazine, CNN Lou Dobbs; Discovery Channel; Engineering News Record; and Federal Technology Watch. She was also a blog writer for Engineering News Record discussing current trends, challenges, and hot topics in the construction industry.

Her unending curiosity and love of adventure led her to all seven continents. From horse riding in Australia, to deep sea fishing in Alaska with her family, safaris in Africa and expeditions on the Galapagos Island, she was well traveled and always planning her next trip. Pat and Jim shared a mutual love of the outdoors which took them on many hunting and fishing expeditions across the globe. If she wasn’t travelling the world, she was entertaining friends and family at Unionville Ranch or relaxing with Jim at their Montana and Lake Kachess cabins. Pat always held a special place in her heart for her beloved pets, a good glass of wine (or two), and gardening at her home. She was an integral part of her community here in Cle Elum. She was passionate about mentorship, with an emphasis on women in engineering. She was generous in her support of many causes which include Life Support, The Nature Conservancy, Women in Engineering, Alzheimer’s Association, and the Pancreatic Cancer Awareness Network.

If she wasn’t traveling the world, she was entertaining friends and family at Unionville Ranch or relaxing with Jim at her Montana cabin.

Our thoughts are with her husband Jim, their children Megan and Travis, her late husband Kris Nielsens’ daughters Chri, Tanya, Tara and Lia, and the many friends and colleagues whom she held dear.

Our founder, mentor and friend will be sorely missed.

Her obituary from the Brookside Funeral Home notes:

Pat was born in Lexington, Kentucky, on June 14th, 1957, as the only child of John and Maudine Frisby. She had the natural ability to captivate the room with her infectious energy, bright smile, and zest for life. Pat never met a stranger. She was a natural leader, meeting challenges with determination, creativity, and grace. She had an insatiable thirst for knowledge that followed her through life, garnering her numerous degrees, certifications, and accolades.

Pat is loved, cherished and survived by her husband Jim. She is also survived by their children Megan and Travis, her mother Maudine Frisby, her late husband Kris Nielsens’ daughters Chri, Tanya, Tara and Lia, and the many friends and colleagues whom she held dear.

She leaves an enormous void in our lives, and she will be sorely missed.

Per her request, her celebration of life will be held at Unionville Ranch Cle Elum, Washington at 2:00pm on Saturday October 19, 2024. We invite you to join us immediately after for cocktails, hors d’oeuvres, and sharing memories of her remarkable life with family, friends, and colleagues.

In lieu of flowers, please consider a donation to Life Support, The Nature Conservancy, Alzheimer’s Association, Pancreatic Cancer Awareness Association, or Purdue University’s Women in Engineering (WiE) Program in honor of her memory.

Memories and condolences can be shared at www.brooksidefuneral.com

]]>
https://source.aacei.org/2024/10/14/in-memoriam-october-2024/feed/ 0
127R-23: Choosing Among Strategic Alternatives Using Branching Concepts in Decision Modeling https://source.aacei.org/2024/04/24/new-rp-127r-23-choosing-among-strategic-alternatives-using-branching-concepts-in-decision-modeling/ https://source.aacei.org/2024/04/24/new-rp-127r-23-choosing-among-strategic-alternatives-using-branching-concepts-in-decision-modeling/#respond Wed, 24 Apr 2024 14:21:27 +0000 https://source.aacei.org/?p=9269

127R-23: Choosing Among Strategic Alternatives Using Branching Concepts in Decision Modeling

127R-23: Choosing Among Strategic Alternatives Using Branching Concepts in Decision Modeling

The purpose of this recommended practice (RP) is to describe risk analysis concepts that can be used when important alternative selection strategies are being developed by senior leaders. These selections are made well before there is a detailed project plan, schedule, and cost estimate. The RP describes the development of simplified models to assess alternatives under consideration. These models highlight key systemic and project-specific risk characteristics. They provide clarity, transparency, traceability, and repeatability consistent with recommended project risk analysis practices. Models are presented here to illustrate two of these methods, probabilistic branching and conditional branching.

During the “Select” phase 1 for any significant project, strategic alternatives are being evaluated, and one of the main considerations will include the balance of risk driving any alternative. This recommended practice (RP) addresses decision modeling using quantified risk analysis methods to conduct an analysis of alternatives (AoA). The model is simplified to highlight the key risks and feasible alternative configurations, to select the best alternative. This RP document is not intended to be a standard. Rather it is intended to provide a guideline for using project risk analysis simulation capabilities of probabilistic and conditional branching to evaluate alternative selection within a simplified model framework of the project’s strategy. RPs are considered by most practitioners to be good processes that can be relied on and that they would recommend be considered for use where applicable. The RP will be useful to organizational leaders and decision-makers, project management, and risk team leaders.

Contributors:

Keith D. Hornbacher (Primary Contributor)
Dr. David T. Hulett, FAACE (Primary Contributor)
James E. Arrow, DRMP
Jessica M. Colbert, PRMP PSP
Francisco Cruz, PE CCP
Larry R. Dysert, CCP CEP DRMP FAACE Hon. Life
John K. Hollmann, PE CCP CEP DRMP FAACE Hon. Life
Sagar B. Khadka, CCP DRMP PSP FAACE
Dr. Luis Henrique Martinez
Dr. Dan Melamed, CCP EVP FAACE
Abbas Shakourifar, PSP
Lance Stephenson, CCP FAACE Hon. Life

About Keith:

Keith D. Hornbacher is the founder and Principal Consultant of Hornbacher & Associates. His firm’s program/project risk management practice includes clients across industries and domains that include capital expansion projects in water management, energy, engineering, construction, transportation infrastructure, and aerospace/defense systems development. For over 35 years, Keith has implemented quantitative schedule, cost, and integrated cost-schedule risk analysis in the public and private sectors.
 
As a senior third-party risk analysis and planning specialist, Mr. Hornbacher has held several project risk management and control positions. For Raytheon, an aerospace and defense company, he was a Program Risk Manager on the U.S. FAA’s Wide Area Augmentation System (WAAS), a NextGen air traffic management system. Also, his firm lead the program/project risk assessments of a major metropolitan water bureau filtration and pipeline system upgrade.  In addition to his role as a senior consultant, Mr. Hornbacher recently celebrated the conclusion of more than fifteen years as an affiliated faculty member in organizational dynamics graduate studies at the University of Pennsylvania, where he presented seminars and clinics on managing project risk, uncertainty, and the unexpected. Graduate students learned how to utilize best-in-class quantitative risk analysis tools and methods in his clinics. You may reach Keith at: Keith@HornbacherAssociates.com
 

About David:

Dr. David T. Hulett, FAACE is a Principal with Hulett & Associates, LLC, and has focused for the last 28 years on quantitative schedule risk analysis, integrated cost-schedule risk analysis, and project scheduling best practices. He has conducted many risk analyses, focusing on quantifying the risks and their implications for project cost and schedule, and many schedule assessments.
 
David has held strategic planning positions at TOSCO, an oil company, and at TRW in aerospace and defense. In the federal government, he managed offices in the Federal Energy Agency (FEA), the Department of Energy (DOE), and the Office of Management and Budget (OMB). He was an economist with the Federal Reserve Board of Governors. Dr. Hulett was also an Instructor in the Economics Department at Harvard University.
 
Dr. Hulett is a contributor to 11 recommended practices, with three as the primary contributor. He has authored two books, Practical Schedule Risk Analysis and Integrated Cost-Schedule Risk Analysis, as well as numerous articles for AACE.  David is a frequent presenter at AACE’s annual conference and expo, and the current Vice-Chair of the Decision and Risk Management Technical Subcommittee.
 
Dr. Hulett was elected as a Fellow of AACE International in 2015 and received the Brian D. Dunfield Educational Service Award from the Association in 2018. He holds a Ph.D. in Economics from Stanford University. You may reach David at: david.hulett@projectrisk.com
 
 
This new RP may be found here: 127R-23: Choosing Among Strategic Alternatives Using Branching Concepts in Decision Modeling
 

]]>
https://source.aacei.org/2024/04/24/new-rp-127r-23-choosing-among-strategic-alternatives-using-branching-concepts-in-decision-modeling/feed/ 0
Vera Anna Lovejoy Obituary https://source.aacei.org/2024/04/18/vera-anna-lovejoy-obituary/ https://source.aacei.org/2024/04/18/vera-anna-lovejoy-obituary/#respond Thu, 18 Apr 2024 13:38:50 +0000 https://source.aacei.org/?p=9236

Vera Anna Lovejoy Obituary

Vera Anna Lovejoy

Vera Anna Lovejoy, beloved wife, sister, and mother, passed away peacefully on March 14, 2024, in Los Angeles, California, in the company of her loving family. She was 62 years old.

Born in Toronto, Ontario, Vera’s family moved to Los Angeles when she was a child. She dedicated over 30 years of her life to the engineering field, leaving an indelible mark on numerous projects, including the expansion of Los Angeles International Airport (LAX) and the development of California’s high-speed rail system.

Vera’s professional accomplishments were matched only by her unwavering dedication to her family. She is survived by her devoted husband, Dave; cherished sister, Mirna; and loving sons, David and Christopher. Vera’s warmth, kindness, and strength will be deeply missed by all who knew her.

In lieu of flowers, the family requests that donations be made to The Malala Fund at malala.org, in honor of Vera’s lifelong commitment to dismantling the patriarchy.

She became an AACE International member in 1999. She earned the CCP (then CCC) in 2002, and by unanimous request of the PSP Task Force, of which she was co-chair while working full time in the field, a mom of two teenagers, a full-time college student, and very privately battling breast cancer, she was granted PSP #00001.

Vera receiving the Charles V. Keane Distinguished Service Award in 2005.

From AACE International, she received several association awards, including:

  • Charles V. Keane Distinguished Service Award (2005)
  • Technical Excellence Award (2004)
  • AACE Fellow (2013)
  • CH2M Hill Service Award (1996)

Vera was an active member of AACE International. Her volunteer service included:

  • Board of Directors – Vice President Technical/Education/Certification (2007-2009) and Regional Director Region 6 (2005-2007)
  • Technical Board member from August 31, 2016, through January 2, 2019
  • PSP Task Force co-chair (2003-2004) – the PSP was the first specialty certification…and AACE’s first certification in 27 years when they formed the PSP task force. When they were giving the first beta test of the PSP, she had copies of the exam and the flight she was supposed to take after getting off work was canceled. To protect the integrity of the exam, plus since she wanted to be part of the post-exam interviews with the examinees, she and her husband drove all night from the LA area to Phoenix.
  • Planning & Scheduling (P&S) Committee Chair – 2003
  • Contributor to five AACE International Recommended Practices
  • Women in Project Control (WPC) officer – 2006 (when the committee was founded) until at least 2009
  • She frequently held PSP Certification Review Workshops and presented papers at the Conference & Expo (then known as the AACE Annual Meeting)

AACE International Rememberances

Several AACE International members have commented on knowing Vera while she was an AACE member. These comments include:

From: Charles E. Bolyard, Jr., CCM, FCMAA, PSP, CFCC, FAACE, Hon. Life

“Good morning. So very sad to learn of the loss of Vera Lovejoy. Vera was a career-long supporter and active participant in AACE and will surely be missed.”

Best Regards,

Charles E. Bolyard, Jr., CCM, FCMAA, PSP, CFCC, FAACE, Hon. Life
Founder MBP
2600 Park Tower Drive, Suite 801
Vienna, VA 22180

From: Edward E. “Ted” Douglas III, CCP, PSP, FAACE

“I first met Vera Lovejoy at the AACE Headquarters in Morgantown WV, when we were participating in the beta testing for the Planning and Scheduling Professional Certification. She was a dedicated and focused champion for professional excellence. Vera and the PSP Taskforce created a comprehensive certification product that has helped develop literally thousands of professionals, both within and outside of AACE International. Vera’s commitment to professional development helped focus my subsequent efforts to help provide recommended practices and guidelines for that continued goal. Vera was a professional associate that I was honored to also call a friend. You are missed Vera.”

Edward E “Ted” Douglas III
ACTPMA, LLC
Wading River, NY 11792-1240

From: Larry R. Dysert, CCP, CEP, DRMP, FAACE, Hon. Life

“I remember Vera as a cherished colleague on the Technical Board of AACE. Her passion and dedication to furthering the cost engineering profession left an indelible mark on those privileged to work with her. I appreciate my time working alongside Vera on the Technical Board. She will be missed by all who knew her.”

Larry R. Dysert, CCP, CEP, DRMP, FAACE, Hon. Life
Lake Havasu City, AZ 86406-6354

From: Donald F. McDonald Jr.

“A few thoughts on Vera: Vera was a quiet but effective force for advancing all things cost engineering in general and women in the profession specifically.  I first came to know Vera when I was working in Southern California and when she was active in the development and promotion of AACE Recommended practices, the PSP Certification Study Guide, and other Education Board publications.  When I was Education Board Chair, Vera, as VP-Tech, was a passionate supporter of the Ed Board and made our work that much easier to accomplish.  When Vera talked, one learned to pay close attention to the gems she was passionate about.”

Best regards,

Donald F. McDonald, Jr.
Vice President
Fluor Enterprises Inc.
100 Fluor Daniel Dr.
Greenville, SC 29607-2761  

From: Michael R. Nosbisch, CCP PSP FAACE

“A sad day for sure–I would add the following: Along with Mike Ray, Vera was the driving force behind the PSP certification, co-chairing the task force that created and established AACE’s first specialty certification, successfully setting the stage for all the others that followed.  I was also lucky enough to work alongside her for a few years at the Parsons Corporation, where she was instrumental in the development and roll-out of an internal project controls management certification program that was cutting edge at the time, stressing the fact that project controls is an integral component of any project leadership team.  Her passion for excellence will be missed by everyone who was lucky enough to know and work with her.” 

Michael R. Nosbisch, CCP PSP FAACE
Director, Project Controls Consulting Services
3780 Kilroy Airport Way, Suite 200
Long Beach, CA 90806

Editor’s Note: The Vera Lovejoy obituary includes information provided by her family, supplemented with AACE International information gathered by Jennie Amos, Director of Governance, Marketing, and Meetings, and Christian Heller, Director of Technical Guidance.

]]>
https://source.aacei.org/2024/04/18/vera-anna-lovejoy-obituary/feed/ 0
AACE 2024 Election Results Announced https://source.aacei.org/2024/04/05/aace-2024-election-results-announced/ https://source.aacei.org/2024/04/05/aace-2024-election-results-announced/#comments Fri, 05 Apr 2024 15:44:50 +0000 https://source.aacei.org/?p=9202

AACE 2024 Election Results Announced

Results from this year’s annual AACE International Board of Directors election for President-Elect, Treasurer, and Director-At-Large are announced. Voting ended on March 31.

The Winners Are:

AACE International Board of Directors:

  • President-Elect: Michael J. Bennink, PE CCP PSP
  • Treasurer: Cindy L. Hands, P.Eng. CCP
  • Director-At-Large: Omoniyi (Niyi) Ladipo, CCP EVP

Michael J. Bennink, PE CCP PSP

President-Elect

Michael was elected President-Elect. This is a three-year commitment, serving 2024-2025 as President-Elect, 2025-2026 as President, and 2026-2027 as Past President.

Biography

Michael joined AACE in 2002 and became involved through the New Jersey Section. After several roles on the NJ Section Board (learning about AACE!), he was elected section president in 2008 for three terms and again in 2013 for seven terms. In 2019, he served on the NE Symposium Committee and was elected Region 2 Director in 2020, where he was then chair of the 2022 Northeast Symposium. Over these years, he also served on the Certification Board, presented at sections, regionally, and at the annual Conference & Expos, and achieved CCP and PSP certifications.

He was given the opportunity to serve on the Board of Directors in 2022 when he was elected Director-at-Large, where he learned of the challenging work that has been accomplished, including developing the AACE strategic plan that continues to be implemented. Through all his AACE involvement, the people he met have been the highlight of his experience.

Outside of AACE, Michael graduated from Rensselaer Polytechnic Institute (NY) in mechanical engineering and has an MBA from Monmouth University (NJ). He started his career as a gas utility engineer and has been a consultant in construction claims and disputes for the past 20 years. He is a managing director for J.S. Held in New York City. He is also a licensed Professional Engineer and certified PMP, a past board member of the NJ Society of Professional Engineers, serving a term as president, and a long-time coach and chief umpire of his local Little League baseball organization. 

Goals/Objectives

If elected, he will champion AACE’s lead as the premier professional society, ensure continued implementation of its strategic plan, and support the tremendous contributions and efforts from its boards, committees, sections, headquarters staff, and all its members. He wants to ensure members get opportunities through the continued growth and purpose of the organization, which cannot be taken for granted. Specifically,

  • Support AACE members’ professional and technical development and encourage and enable opportunities within the Association.
  • Continue support to sections and headquarters during the ongoing section organizational transition, including working through the diverse challenges each section faces.
  • Facilitate the worldwide growth of AACE, recognizing and addressing challenges, like language and economic considerations, faced by members and sections.
  • Promote certifications and the elevation of credentials within industry and government.

Continue to advance recommended practices and the abundant outstanding technical resources AACE members have developed.

 

Cindy L. Hands, P.Eng. CCP

Treasurer

Biography

  • Project controls manager with 30 years of experience in the infrastructure, oil and gas, mining, energy, and construction industries.
  • Supports mega projects worldwide and works with world-class international construction contractors.
  • Has been project controls manager for major EPCM firms, overseeing project controls teams across North America.
  • Currently an associate with Hatch Ltd. (18 years).
  • Civil Engineering degree from Memorial University, master’s degree in leadership, Certified Cost Professional (AACE CCP), Professional Engineer and Responsible Member (APEGGA, Association of Professional Engineers and Geoscientists of Alberta).
  • In addition to a technical engineering background, has extensive knowledge of project planning and delivery, estimate development, cost management, scheduling, progress measurement, and status reporting.
  • Has a passion for project controls, active in the local Calgary-Chinook Section of AACE since 2001.
  • 2014-2016: President of AACE Canada (Regional Director 1), overseeing 10+ Canadian sections and serving on the International AACE Board.
  • 2020-2021: VP Membership, North America, AACE International Board.
  • 2021–2022: Membership Advisory Committee (MAC) Chair, North America, AACE International Board.
  • 2022-2024: Treasurer, AACE International Board and the AACE Certification Institute Board.
  • Collaborates with industry professionals and university professors to provide training in project controls and AACE certification training across North America (3Targets.com).
  • A mom of two active teenage boys.

 Goals/Objectives

  • As this would be her second term as treasurer, she wants to continue to oversee the organization’s financial operations.
  • Ensure budgeting and spending align with the association’s strategic plan.
  • Participate in financial reviews/audits.
  • Ensure compliance and offer recommendations as appropriate.
  • Seek board approval on financial matters.
  • Continue to support the growth and evolution of the association.

 

Omoniyi (Niyi) Ladipo, CCP EVP

Director-At-Large

Biography

Niyi graduated from the University of Maryland, College Park, with a Bachelor of Science in Civil Engineering in 1984. Later, she earned a Master of Science in Construction Management and Economics in 1994 from the University of Greenwich, United Kingdom. She has over 35 years of US and overseas experience in construction and construction management. Over the last 19 years, she has been employed with MBP. She serves as vice president and service executive within the Consulting Practice Line.

She has been an active member of AACE since 2005 and has served as National Capital Section secretary, president, chair for scholarships and college outreach, and board member. She has also been actively involved with the Region 2 Symposium, serving as the Region 2 Director, a member of the AACE Marketing Advisory Committee, and a member of the Ethics Committee at the association level.

She has authored papers and presented at AACE Conference & Expo meetings, at AACE Region 2 Symposia, and at other professional association conferences on topics related to cost management, earned value management and schedule reviews in construction, and cost engineering successes and solutions. She has also authored a chapter in the Construction Law Update on earned value management.

 Goals/Objectives

  • Will work closely with others on the Board of Directors to uphold and promote the mission and vision of our association.
  • Will support and collaborate with others on the Board of Directors to execute assignments at the President and Board of Directors’ request to govern AACE successfully.
  • Will support the Board of Directors in improvement and outreach initiatives to grow and sustain our AACE membership through the goals and objectives established by the Board.
  • Upon direction by the Board of Directors, she will work with others on the policies and procedures related to governing and executing our association’s business.

 

 

]]>
https://source.aacei.org/2024/04/05/aace-2024-election-results-announced/feed/ 1
In Memoriam, January 2024 https://source.aacei.org/2024/01/12/in-memoriam-january-2024/ https://source.aacei.org/2024/01/12/in-memoriam-january-2024/#respond Fri, 12 Jan 2024 14:10:14 +0000 https://source.aacei.org/?p=9039

In Memoriam

Anthony J. (Tony) Werderitsch, PE CCP CFCC FAACE Hon. Life

June 19, 1941 – January 7, 2024

Anthony J. Werderitsch (Tony) passed away peacefully at home in the early morning hours of January 7, 2024, with his beloved wife, Patricia, at his side, after suffering from pneumonia and a lengthy battle with cancer (bladder, skin, and soft tissue sarcoma). Tony had full mental acumen up until his passing and fought death every step of the way.

Anthony was born June 19, 1941, in Chicago, Illinois. He attended Saint Patrick’s All Boy’s School, playing offensive guard on the varsity football team, and fell in love with his sweetheart, Patricia (Pat). He was looking forward to celebrating their 60thwedding anniversary later this month. Tony attended Marquette University in Milwaukee, Wisconsin, where he earned his Bachelor of Science degree in Civil Engineering, was a proud member of the Triangle Fraternity, and was active in the Army ROTC program his first year.

During his long and successful career, Tony’s family relocated 13 times. He started his career with Bethlehem Steel in Pennsylvania as a “looper” (i.e., Bethlehem’s management training program, where one makes a loop around all company operations). Tony loved to travel, so he took a job as a cost engineer in San Francisco, California, with Bechtel Corporation, a large engineering and construction company building power plants worldwide, and Tony went to many of them.

After traveling and moving, the family got homesick and relocated to Jackson, Michigan, where Tony became a project controls manager with Commonwealth Associates. While there, Tony petitioned the state to identify Jackson, Michigan, as the home of astronaut Al Worden. The state agreed and subsequently installed signs along the highways.

On one vacation to Disney World, Tony happened to stop and fill out an employment application. The next thing we knew, the family was moving to Orlando, where he became the project engineer of what was then called Lake Buena Vista (now known as Disney Springs). He played golf in the 1972 Disney Pro-Am with David Heartman and Bill Graham behind Jack Nickalaus’s foursome.

The oil embargo hit Disney, and they wanted Tony to move back to California. He was not going back to California, so the family decided on Ann Arbor, Michigan, where he was the project controls manager at Townsend and Bottum. At that point in his career, Tony started his own company. He asked Pat to join him in this endeavor, and thus, Administrative Controls Management, Inc. opened its doors on March 1, 1985. ACM now has offices in Charlotte, North Carolina; Westerville, Ohio; and Detroit, Michigan. The headquarters office remains in Ann Arbor.

Tony enjoyed playing racquetball in his younger years, going on long walks in his older years, playing cards with friends and family, dancing, and singing karaoke. He was a member of Ann Arbor Golf and Outing and Polo Fields Golf and Country Club, where he played in the summers, as well as Hideaway Country Club in Fort Myers, Florida, where he could continue the second love of his life, golf, in the winters. Tony won the 1996 Father/Son Golf Classic in Pebble Beach, California, and many friendly competitions, including two Old Hickories and Three Maloy Cups at Ann Arbor Golf and Outing.

Tony was a smart, generous, and caring man who gave of his time and talents to many. He was a beloved mentor to many in the project controls profession and spent many years serving AACE International and with various Kiwanis clubs of Ann Arbor. He was sought after internationally to present on project controls. He was able to travel to England, the Middle East, and Poland to name a few.

Tony is survived by his loving and devoted wife and partner, Patricia; sons, Anthony and Andrew (Anna); grandsons, Joseph, Cypress, and Cosimo; sisters Barbara Andersen of Chicago, Illinois, and Janet Alexander of Placitas, New Mexico; several nieces and nephews; as well as numerous other family members and cherished friends.

Funeral Arrangements

Friends and Family will be received at Nie Funeral Home – Liberty Road Chapel (3767 W. Liberty Road, Ann Arbor, MI 48103) for a visitation Tuesday, January 16, from 4-7 p.m. Visitation will also take place Wednesday, January 17 from 10 a.m. until the time of Funeral Mass at 11 a.m. at St. Andrew the Apostle Catholic Church (910 Austin Drive, Saline, MI 48176).

In lieu of flowers, memorial contributions can be made to St. Andrew the Apostle Catholic Church.

Tony’s AACE International History

Tony has been an active member of AACE International since 1971. As noted, Tony had served as ACM’s executive vice president, owner, and co-founder. He had over five decades of experience in project management consulting, major engineering, and construction projects. His professional responsibilities have entailed corporate project management oversight and operations and working as a departmental manager for project controls, estimating, planning, scheduling, and cost analysis. Tony co-authored ACM’s Construction Claims: Contract Changes, Contract Delays, and Claim Awareness; Project Management Planning & Scheduling; Planning & Scheduling; and Fundamentals of Cost Estimating training seminars. Tony has written and presented many papers to professional societies and industry associations, has served as an expert witness in construction delay claims, and was one of ACM’s key professional instructors.

The first AACE International technical paper Tony authored/co-authored was in 1983. He was also involved with Skills & Knowledge sessions doing presentations/workshops and continuing education classes. He taught/co-taught for AACE for a span of at least 30+ years from the time of his first technical paper presentation. He also had been active (especially in earlier years) and supportive of the Great Lakes Section of AACE.

Tony’s company, Administrative Controls Management, Inc. (ACM), was the 2006 recipient of the Industry Appreciation Award (at that time Industrial Appreciation Award). ACM was also the first Approved Education Provider (AEP), which Tony and Pat were quite proud of.

The last AACE award Tony received was in 2016. At that time, it was noted that he had 40 years of experience in major engineering and construction projects; he had assisted in the education of thousands of corporate, government, institutional, and associations representatives. He was a registered Professional Engineer (PE) and held the AACE designations of Certified Cost Professional (CCP) and Certified Forensic Claims Consultant (CFCC). He has written and presented numerous papers to professional groups and industries about total cost management (TCM) as an expert on construction delay claims. Tony was previously honored by AACE as a Fellow (1987), Honorary Life Membership (1995), the O.T. Zimmerman Founder’s Award (2004), the Award of Merit (2015), and the Brian D. Dunfield Educational Service Award (2016).

Tony’s contributions to AACE International will be greatly missed. 

AACE International Member Remembrances

Past AACE President Clive D. Francis, CCP FAACE (served as President in 2004-2005), said: “Anthony Werderitsch and I met in 1970 when he came to work at what was then Commonwealth Associates in Jackson, MI. I was just a young guy barely six months out of college and very green in estimating. Our boss had hired me to be one of the “kids” in the estimating department. Tony followed him from another company, and he was the senior guy in the plan to build a quality estimating department at Commonwealth.”

Clive continued, “I was assigned to work with Tony, and more importantly, he became my first mentor. He took this “kid” and began the arduous task of teaching me the estimating profession. He had the patience of Job as he taught me so much from the actual work to being able to present the estimate to the client and defend it.” Clive adds, “Tony championed the development of a computerized estimating system for Commonwealth Associates, and I was along for the adventure. A point to understand is that the computer was in the basement in those early days and occupied most of the floor space there. Tony persisted, and the system became a major tool for use on our larger power plant projects. The ability to select and print data was a great boon to preparing an analysis for the estimate.”

In conclusion, Clive says, “I will always remember Tony as my first mentor, a mentorship which lasted many years. He provided guidance and gave me a solid basis of knowledge and work skills that served me well in my career progression. I will also remember Tony as my friend, a person I could sit with and talk about the job or just spend time talking about nothing. Tony’s contributions to AACE are many and varied. His support of the local section was never questioned. At the national level, his many contributions can be seen when you open the Skills and Knowledge of Cost Engineering or any other publications. He made many presentations at the national level, and more importantly, he could be called upon to fill a gap in the program. 

I will miss my mentor and friend.”

Douglas W. Leo, CCP CEP, said, “Sad news indeed, what a gentleman. Tony will be missed.”

Larry R. Dysert, CCP CEP DRMP FAACE Hon. Life, said, “I am saddened by the passing of Tony Werderitsch. Tony’s contributions to AACE and cost engineering have significantly enhanced our profession. Always approachable and supportive, his mentorship of those within his professional realm positioned them for professional success.  Many will miss him, and I extend my condolences to his family, professional colleagues, and friends.”

]]>
https://source.aacei.org/2024/01/12/in-memoriam-january-2024/feed/ 0
New 123R-22: Integrated Cost and Schedule Risk Analysis and Contingency Determination Using Estimate Ranging and Expected Value with Monte Carlo Simulation https://source.aacei.org/2023/08/21/new-123r-22-integrated-cost-and-schedule-risk-analysis-and-contingency-determination-using-estimate-ranging-and-expected-value-with-monte-carlo-simulation/ https://source.aacei.org/2023/08/21/new-123r-22-integrated-cost-and-schedule-risk-analysis-and-contingency-determination-using-estimate-ranging-and-expected-value-with-monte-carlo-simulation/#comments Mon, 21 Aug 2023 13:48:11 +0000 https://source.aacei.org/?p=8617

New RP - 123R-22: Integrated Cost and Schedule Risk Analysis and Contingency Determination Using Estimate Ranging and Expected Value with Monte Carlo Simulation

123R-22: Integrated Cost and Schedule Risk Analysis and Contingency Determination Using Estimate Ranging and Expected Value with Monte Carlo Simulation

This recommended practice defines general practices and considerations for integrated cost and schedule risk analysis and estimating contingency using a combination or hybrid of estimate ranging and integrated cost and schedule expected value analysis with Monte Carlo simulation methods. R+EV is used as a shorthand designation for this quantitative risk analysis (QRA) combination.

The R+EV method is a fit-for-use, practical, risk-driven method intended to support management’s need for integrated distributions of bottom-line project cost and schedule outcomes. It is intended to support investment or tender decision making for well-defined, relatively simple, low-technology projects at the sanction or tender phase (i.e., Class 3 or better-defined estimates).

This method is not recommended for projects with significant systemic risks including projects at early scope definition phases (Class 10, 5 or 4) or with significant complexity, and/or with significant levels of technology. While this method can provide limited insight of risks to some activities or milestones, this method is not recommended for projects needing to understand schedule risk at a detailed level such as the impact of risk on specific schedule activities or on intermediate milestones. This exclusion from usage results from expected value method limitations regarding schedule. The method also excludes quantification of escalation risks.

Contributors:

John K. Hollmann, PE CCP CEP DRMP FAACE Hon. Life (Primary Contributor)
May Chetty, CEP
Larry R. Dysert, CCP CEP DRMP FAACE Hon. Life
Hossam Hefnawy

About John:

John K. Hollmann, PE CCP CEP DRMP FAACE Hon. Life (Primary Contributor)

John joined AACE in 1986 and is a passionate leader in the cost engineering field, holding multiple certifications from AACE (CCP, CEP, and DRMP). He has authored and contributed to numerous AACE recommended practices plus many papers and led development of AACE’s Decision and Risk Management Professional (DRMP) certification.  He was the principal author of the first edition of AACE’s 2006 landmark publication The Total Cost Management Framework: An Integrated Approach to Portfolio, Program, and Project Management and also authored the publication Project Risk Quantification: A Practitioners Guide to Realistic Cost and Schedule Risk Management in 2016.

John has served AACE in various roles including chairs of multiple technical subcommittees. He was elected to and served on AACE’s Board of Directors for one year (1996-1997) where he was instrumental in the reorganization of the Board to create three Associate Boards (Technical/Education/Certification). John was a member of the Technical Board for several years where he served as Director of Recommended Practices and Director of Total Cost Management.

He has previously been recognized by AACE with the Outstanding Technical Committee Chair Award (1994, 1996), O.T. Zimmerman Founder’s Award (2005), Fellow (2006), Award of Merit (2008), Technical Excellence (2010), Honorary Life Membership (2011), the Lifetime Achievement Award (2018), and the TCM Excellence Award (2022).

John helps companies improve their cost engineering competencies and capabilities by evaluating processes, organization, tools and practices for cost engineering related functionality; assisting in implementing practice improvements; validating and reviewing major project estimates; performing risk analyses, contingency and escalation estimates; and by developing and conducting training.

He is currently the owner of Validation Estimating, LLC and alliance partner in ValidRisk.

You can find the new RP here: 123R-22: Integrated Cost and Schedule Risk Analysis and Contingency Determination Using Estimate Ranging and Expected Value with Monte Carlo Simulation

]]>
https://source.aacei.org/2023/08/21/new-123r-22-integrated-cost-and-schedule-risk-analysis-and-contingency-determination-using-estimate-ranging-and-expected-value-with-monte-carlo-simulation/feed/ 1