Technical Board Liaison: H. Lance Stephenson, CCP FAACE
The scope of this subcommittee is the application of cost engineering and management precepts to analyze and determine how a portfolio of strategic assets should be selected and managed within the environment of a business enterprise or government agency to optimally meet the financial, production, sales and service goals and objectives of programs based on the organization's stated mission or purpose; the definition of requirements for fulfilling the mission; and the identification of resources, technologies, methods and procedures required to best achieve those goals and objectives within specified budgets and timetables. Among strategic asset management processes, this encompasses enterprise management, strategic performance assessment, and strategic requirements assessment.
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.