Source Extra – Source https://source.aacei.org Source Wed, 24 Apr 2024 13:27:09 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.2 https://source.aacei.org/wp-content/uploads/2020/12/AACE-Site-Icon.gif Source Extra – Source https://source.aacei.org 32 32 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/ 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 12:54:09 +0000 https://source.aacei.org/?p=9270

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

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

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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.

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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/#respond 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.

 

 

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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

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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.”

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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

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Charles E. Bolyard, Jr. Named Lifetime Achievement Award Recipient https://source.aacei.org/2023/06/10/charles-e-bolyard-jr-named-lifetime-achievement-award-recipient/ https://source.aacei.org/2023/06/10/charles-e-bolyard-jr-named-lifetime-achievement-award-recipient/#respond Sat, 10 Jun 2023 12:00:00 +0000 https://source.aacei.org/?p=8466

Charles E. Bolyard, Jr. CFCC PSP FAACE Hon. Life Named Lifetime Achievement Award Recipient

Lifetime Achievement Award: The Lifetime Achievement Award is given to individuals who have served the Association on multiple occasions in a variety of capacities. Candidates shall have made significant and specific contributions to the growth and enhancement of the cost engineering profession and total cost management. Minimum requirements are: a) Membership in AACE International for twenty (20) years; b) previous service to AACE as a member of the Board of Directors or as an active member of one or more associate board; c) previously been recognized having received two or more of the following: Award of Merit, Brian D. Dunfield Educational Service Award, Keane Award for Distinguished Service to an AACE Section, Honorary Life Membership, O.T. Zimmerman Founder’s Award, or the TCM Excellence Award; and d) must be a Fellow of AACE. It is the highest award AACE bestows on an individual. Membership in AACE is required.

Charles E. Bolyard, Jr. CFCC PSP FAACE Hon. Life – Charlie joined the AACE in 2004. He was on the task forces that developed the Planning & Scheduling Professional (PSP) and Certified Forensic Claims Consultant (CFCC) certifications earning both of those designations as a result of his contributions. Charlie has served as a member of AACE’s Certification Board (2014-2016) and is currently serving as chair (2019-present). He has been elected and served on AACE’s Board of Directors as Region 2 Director (2003-2005), Vice President-Certification Board (2014-2016), President-Elect (2016-2017), President (2017-2018), and Past-President (2018-2019). He has previously been recognized as an AACE Fellow (2010) and Honorary Life Membership (2021). Charlie is the Chairman at McDonough Bolyard and Peck, a company that was honored with the Industry Appreciation Award (2010) as well as multiple awards from the Engineering News-Record, CMAA, ASCE, the America Public Works Association, the Washington Post, and Zweig White – to name a few.

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Todd W. Pickett Named Honorary Life Membership Recipient https://source.aacei.org/2023/06/09/todd-w-pickett-named-honorary-life-membership-recipient/ https://source.aacei.org/2023/06/09/todd-w-pickett-named-honorary-life-membership-recipient/#respond Fri, 09 Jun 2023 12:00:00 +0000 https://source.aacei.org/?p=8456

Todd W. Pickett, CCP CEP FAACE Hon. Life Named Honorary Life Membership Recipient

Honorary Life Membership: Honorary Life Membership is given upon the unanimous approval of the AACE International Board of Directors to those individuals who have served the Association on the local and international levels in a variety of capacities.  Minimum requirements are: Membership in AACE for twenty-five (25) or more consecutive years.  Candidates shall have attained the status of Fellow of AACE.  In  addition, candidates shall have distinguished service in two (2) or more of the following functions: a.) Served on the AACE International Board of Directors; b.) Served as a member of an associate board, task force, standing, and/or ad hoc committee; c.) Presented two (2) or more technical papers at the Conference & Expo, section meetings, AACE seminars, or to other professional societies; or d.) Engaged as a full-or part-time instructor teaching in total cost management subject areas.  Membership in AACE is required.

 Todd W. Pickett, CCP CEP FAACE Hon. Life – Todd joined AACE in 1994 and became a Certified Cost Professional (CCP) in 2001 and was grandfathered in as a Certified Estimating Professional (CEP) in 2008 following his work on the CEP Certification Task Force.  Todd is a member of AACE’s Technical Board (2005-Present) where he also served as chair from 2016-2020.  Todd is a frequent author and presenter at AACE’s Conference & Expos as well as an author or contributor to AACE’s Recommended Practices. He has previously been recognized by AACE as a Fellow (2012) and the TCM Excellence Award (2021). Todd is a Principal Partner at Conquest Consulting Group.

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Delta Consulting Group Named Industry Appreciation Award Recipient https://source.aacei.org/2023/06/08/delta-consulting-group-named-industry-appreciation-award-recipient/ https://source.aacei.org/2023/06/08/delta-consulting-group-named-industry-appreciation-award-recipient/#respond Thu, 08 Jun 2023 12:00:00 +0000 https://source.aacei.org/?p=8449

Delta Consulting Group Named Industry Appreciation Award Recipient

Industry Appreciation Award: The Industry Appreciation Award is presented to a company or organization that have rendered exceptional support to the total cost management or cost engineering profession and to AACE International’s aims and objectives.  This is the only award AACE bestows on a company/organization.  This Award is not based on recognition of financial contributions to AACE.  The employers of members of the sitting Awards Committee and the sitting Board of Directors are not eligible for nomination or receipt of this Award. Other professional associations as either complimentary to or in competition with AACE are not eligible for receipt of this Award.

Delta Consulting Group – Delta Consulting Group is proud to be 100% employee owned through our Employee Stock Ownership Plan (ESOP).

We are an international consulting firm of multi-disciplined professionals in engineering, accounting, construction, program assessment and litigation support.

On April 6, 2000, founders Jeffrey Fuchs and Mark Dungan established Delta Consulting Group, Inc. as a Virginia corporation. They created a consulting company with a steadfast commitment to provide clients with cost effective, quality work in addition to creating an entrepreneurial environment for their employees.  Their vision for the company remains today:

  • Exceptional client service
  • Excellent work product
  • Fertile ground for growth for employees

A commitment to our clients, colleagues and friends that Delta is “Making the Difference.”

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Ronald M. Winter Named Award of Merit Recipient https://source.aacei.org/2023/06/07/ronald-m-winter-named-award-of-merit-recipient/ https://source.aacei.org/2023/06/07/ronald-m-winter-named-award-of-merit-recipient/#respond Wed, 07 Jun 2023 12:00:00 +0000 https://source.aacei.org/?p=8436

Ronald M. Winter, PSP FAACE Named Award of Merit Recipient

Award of Merit: The recipient of the Award of Merit will be selected by a majority vote of the members of the Awards Committee, based on evaluation of suitable nomination submissions and judgments of relative merit of the various nominated candidates.  To be considered for this Award, candidates must receive a minimum of three independent nominations.  Candidates who are members of AACE must have ten (10) years minimum active participation in AACE and non-members must have a minimum of ten (10) years active service within the cost engineering industry. All nominations must be submitted in writing and accompanied by detailed evidence of the contribution by the nominee(s), together with suitable statements regarding the timeliness and importance of the achievement. Although significant contributions to the advancement of cost engineering and the precepts of total cost management are often the result of a joint effort by multiple individuals, not more than two (2) individuals may be recognized for a particularly significant joint contribution.  If it is not possible to limit the awardees to two individuals, the Award will not be made for the group effort. The recipient(s) need not be a member of AACE International.

Ronald M. Winter, PSP FAACE – Ronald M. Winter, PSP FAACE has been a member of AACE since 2001. Ron was grandfathered in as a Planning & Scheduling Professional (PSP) in 2004 as a result of his work on the PSP Certification Task Force that created AACE’s first specialty certification. He is a frequent Conference & Expo presenter and author and author/contributor to AACE Recommended Practices (RPs). He has previously served on AACE’s Certification Board as an associate member. Ron has been a driving force with AACE’s Planning & Scheduling Technical Subcommittee for a number of years, including having served as the group’s chair for five years and co-chair for another four.  He served on the AACE Marketing Committee for two years. He has previously been honored by the Association with the Special Recognition of Technical Service (2004), Technical Excellence Award (2007), Outstanding Committee Chair Award (2009, 2011, and 2012), Fellow (2013), and Award of Merit (2017). He is the President at Ron Winter Consulting, LLC.

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Daniel P. Gilmour Named O. T. Zimmerman Founder’s Award Recipient https://source.aacei.org/2023/06/06/daniel-p-gilmour-named-o-t-zimmerman-founders-award-recipient/ https://source.aacei.org/2023/06/06/daniel-p-gilmour-named-o-t-zimmerman-founders-award-recipient/#respond Tue, 06 Jun 2023 12:00:00 +0000 https://source.aacei.org/?p=8391

Daniel P. Gilmour, PSP Named O. T. Zimmerman Founder’s Award Recipient

O. T. Zimmerman Founder’s Award: Formerly the Award of Recognition, this award was created by the AACE International Board of Directors in 1995.  Candidates must be a member in good standing of AACE with a minimum of ten (10) years of continuous active participation in AACE activities. The O.T. Zimmerman Founders’ Award is given in recognition of significant continuous achievement and contributions by a member at large, who has been instrumental in the development of policies, practices, procedures, and products directed to the advancement of the precepts of total cost management and AACE International. The activities of the candidate shall be in direct support of the Board of Directors, one of AACE’s associate boards, or an executive-level committee (such as the Constitution & Bylaws Committee, Ethics Committee, Fellow Admissions Committee, etc.), or other similar efforts supporting the overall functions and activities of AACE International. Membership in AACE is required.

Daniel P. Gilmour, PSP – Dan joined AACE in 2013. He obtained the Planning & Scheduling Professional (PSP) designation in 2014. He served as the chair of the Rising Professionals Committee for two terms. Dan is active in the Planning & Scheduling Technical Subcommittee and has been serving as the subcommittee’s chair (2022-present) as well as serving as an Associate Member of the Technical Board. He is a frequent author of papers and Recommended Practices and speaker/presenter at Conference & Expos. He has previously been recognized by AACE as the Outstanding Rising Professional (2020). Dan is the Director of Planning and Scheduling for the East Group at Brasfield & Gorrie, LLC. 

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