Search results
Results from the WOW.Com Content Network
Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". [1] "Cost Engineers budget, plan and monitor investment projects.
Cost estimating is one of three activities performed in project cost management. [3] In cost engineering, cost estimation is a basic activity. A cost engineering reference book has chapters on capital investment cost estimation and operating cost estimation. The fixed capital investment provides the physical facilities.
Pages in category "Cost engineering" The following 25 pages are in this category, out of 25 total. This list may not reflect recent changes. ...
Basis of estimate (BOE) is a tool used in the field of project management by which members of the project team, usually estimators, project managers, or cost analysts, calculate the total cost of the project.
The most basic element of a cost estimate and therefore the cost database is the estimate line item or work item. [3] An example is "Concrete, 4000 psi (30 MPa)," which is the description of the item. In the cost database, an item is a row or record in a table (of items) and the description is a column or field for that record.
AACE is the publisher of Cost Engineering, a bi-monthly technical journal, Skills and Knowledge of Cost Engineering (currently in its 6th edition), Source magazine (a bi-monthly magazine), 20 different AACE International Professional Practice Guides, approximately 120 Recommended Practices, and its most comprehensive publication, the Total Cost ...
Total cost management (TCM) is the name given by AACE International to a process for applying the skills and knowledge of cost engineering. It is also the first integrated process or methodology for portfolio, program and project management. It was initially conceived by Thomas D. Fromm and John Nunnemaker of Perkins & Will, architects, in 1990 ...
All these topics are primary skills and knowledge areas in the field of cost engineering. Since engineering is an important part of the manufacturing sector of the economy, engineering industrial economics is an important part of industrial or business economics. Major topics in engineering industrial economics are: