Contract Management

This subcommittee gathers, formalizes, and disseminates contractual, analytical, and disclosure principles applicable to all aspects of cost engineering and total cost management. This includes managing contracts, contract drafting and specification issues, quantitative analytical techniques, and pricing and schedule disclosure principles. Goals are to be a liaison with similar groups in other professional societies, trade groups, and contracting/purchasing agencies; to promote the incorporation of TCM principles in contract documents and general requirements specifications; to compile contractual, analytical, and disclosure practices dealing with cost and schedule risks, responsibilities, entitlement, and pricing; to keep members aware of related case law, analytical developments, and proven disclosure principles; and to provide formal training on the principles required to practice proficiently in this specialized area.

An important function of a subcommittee is the development of AACE recommended practices (RPs). These are peer-reviewed documents (usually < 10 pages) that define the specifics of particular methods or procedures, often derived from past papers and articles. Click here to learn more about the RP Development Guidelines and Process.