TCMFramework_SM.gif (5258 bytes)TCM Framework: An Integrated Approach to Portfolio, Program and Project Management
(Rev. 2012-01-09)



1.2 Purpose and Uses of the TCM Framework

    The purpose of the TCM Framework is to provide an integrated and theoretically sound structure upon which AACE recommended practices (RPs) can be developed for those areas of TCM for which AACE is the primary caretaker.[8] The Framework achieves this objective by establishing an integrated process map of TCM. The process map helps ensure that RP products are consistent with each other and free of unnecessary duplication. As the structure for RP products, the Framework, by extension, also provides a technical framework that all AACE International educational and certification products and services can use.

    Having achieved its primary purposes, there are many other possible uses of the Framework. For example, the Framework defines key concepts[9] and provides illustrations that can aid communication between cost engineering practitioners. This is particularly important because cost management is practiced in a myriad of enterprises such as construction, manufacturing, software development, real estate development, healthcare delivery, and so on. Also, practitioners striving for functional excellence may lose sight of overall cost management objectives.

    In addition, students and newcomers to the cost management field can gain a broad understanding of the field from the Framework. For educators, the Framework can provide the structure for a course that can be enhanced with selected readings. Companies and skilled cost engineering practitioners that are looking for better ways to tie their disparate cost functions and asset management into an effective system will find that the Framework adds structure and value to their efforts. The Framework also provides a conceptual process model on which professionals can benchmark or pattern cost management work processes and practices within their enterprises.


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