An Integrated Approach to Portfolio, Program and Project
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Total Cost Management (TCM) is the effective application of professional and technical expertise to plan and control resources, costs, profitability and risk. Simply stated, TCM is a systematic approach to managing cost throughout the life cycle of any enterprise, program, facility, project, product or service. The TCM Framework: An Integrated Approach to Portfolio, Program and Project Management is a representation of that 'systematic approach'.
The TCM Framework: An Integrated Approach to Portfolio, Program and Project Management is a structured, annotated process map that for the first time explains each practice area of the cost engineering field in the context of its relationship to the other practice areas including allied professions. As the book subtitle says, it is a process for applying the skills and knowledge of cost engineering. A key feature of the TCM Framework is that it highlights and differentiates the main cost management application areas: project control and strategic asset management.
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2008 By AACE® International www.aacei.org