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In 2006, AACE published their Total Cost Management Framework – An Integrated Methodology for Portfolio, Program and Project Management. [2] In this tested and proven methodology, portfolios of assets are optimized through the use of portfolios of projects, using project management as a delivery system, to support and enhance large, strategic or operational programs [3] in support of the ...
An undergraduate (4-year BA/BS level) or graduate degree in construction management, architecture, engineering or construction science. A 2-year undergraduate degree (AA/AS level) or certificate in construction management, architecture, engineering or construction science plus 4 years' experience in general design/construction.
In the US, the Construction Management Association of America (CMAA) states the most common responsibilities of a Construction Manager fall into the following 7 categories: Project Management Planning, Cost Management, Time Management, Quality Management, Contract Administration, Safety Management, and CM Professional Practice. CM professional ...
Project Cost Management (PCM) is the dimension of project management which aims to ensure that a project is completed within its approved budget. [1] [2] It encompasses several specific project management activities including estimating, job controls, field data collection, scheduling, accounting and design, and uses technology to measure cost and productivity through the full life-cycle of ...
In project management, project cost management is a major functional division. 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.
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