(PUBLIC REVIEW DRAFT) 10S-90: Cost Engineering Terminology (Rev. August 15, 2023)

  • 1.  (PUBLIC REVIEW DRAFT) 10S-90: Cost Engineering Terminology (Rev. August 15, 2023)

    Posted 08-15-2023 02:31 PM

    (PUBLIC REVIEW DRAFT – Open until September 29, 2023) 10S-90: Cost Engineering Terminology (Rev. August 15, 2023)

    The following new and revised terms and definitions are being considered in this update:

    (Revised)             RISK, SYSTEMIC

    (Revised)             RISK, PROJECT-SPECIFIC

    (New)                   HYBRID RISK ANALYSIS

    (Revised)             UNCERTAINTY

    (Revised)             EVENT

    (Revised)             RISK EVENT

    (Revision)            CONDITION, RISK

    (New)                   INHERENT VARIABILITY

    (Revised)             RISK, BACKGROUND

    (New)                   RISK, CONTINGENT

    (Revised)             EMERGENT RISK

    (Revised)             UNKNOWN UNKNOWN

    (New)                   SYSTEMATIC ERROR

    (Revised)             BIAS

    (New)                   UNCERTAINTY, DISCONTINUOUS

    (New)                   UNCERTAINTY, KNIGHTIAN

    (Revised)             KNOWN UNKNOWN

    (New)                   UNCERTAINTY, CONTINUOUS

    (New)                   UNCERTAINTY, GENERAL ESTIMATE

    (New)                   RISK EVENT, DISCRETE

    (New)                   UNKNOWN KNOWN

    (New)                   RANDOM ERROR

    (New)                   NOISE

    (New)                   INHERENT RISK EXPOSURE

    (New)                   CURRENT RISK EXPOSURE

    (New)                   TARGET RISK EXPOSURE

    (New)                   ALARP

    (New)                   RISK INFORMED DECISION MAKING

    (New)                   CONTINUAL RISK MANAGEMENT

    (Revised)             LONGEST PATH

    (Revised)             CRITICAL PATH

    (Revised)             CRITICAL ACTIVITY

    (Revised)             NEAR-CRITICAL ACTIVITY

    (New)                   REQUEST FOR EQUITABLE ADJUSTMENT (REA)  

    This draft RP is open for review and comment until September 29, 2023.

    You may provide your comment by either:

    ·         Posting a reply to this thread directly

    ·         Providing mark-up in the PDF file

    ·         Providing your comment in the Excel file



    ------------------------------
    Christian Heller
    Director of Technical Guidance
    AACE International
    cheller@aacei.org
    ------------------------------

    Attachment(s)



  • 2.  RE: (PUBLIC REVIEW DRAFT) 10S-90: Cost Engineering Terminology (Rev. August 15, 2023)

    Posted 08-15-2023 02:32 PM
      |   view attached

    The following initial comments were made by the Technical Board.



    ------------------------------
    Christian Heller
    Director of Technical Guidance
    AACE International
    cheller@aacei.org
    ------------------------------



  • 3.  RE: (PUBLIC REVIEW DRAFT) 10S-90: Cost Engineering Terminology (Rev. August 15, 2023)

    Posted 08-16-2023 12:41 PM

    If you are providing comments using the Excel file please note that the column marked "RP Section (Term)" is a drop down field listing all the terms that are currently up for review. Pick the ones that you wish to provide comment on.



    ------------------------------
    Christian Heller
    Director of Technical Guidance
    AACE International
    cheller@aacei.org
    ------------------------------



  • 4.  RE: (PUBLIC REVIEW DRAFT) 10S-90: Cost Engineering Terminology (Rev. August 15, 2023)

    Posted 08-16-2023 03:54 PM
      |   view attached

    Attached are comments made by Donald McDonald.



    ------------------------------
    Christian Heller
    Director of Technical Guidance
    AACE International
    cheller@aacei.org
    ------------------------------



  • 5.  RE: (PUBLIC REVIEW DRAFT) 10S-90: Cost Engineering Terminology (Rev. August 15, 2023)

    Posted 08-17-2023 09:18 AM

    Thanks for posting. I had my say on the risk terms last year so I will leave it at that (but do agree with another commenter that they are too long winded). But I do encourage everyone in the risk community to review and comment as appropriate. Some of these terms will affect your practice and the way we hope to communicate. This is your profession and this is an easy way to be a part!



    ------------------------------
    John Hollmann CCP CEP DRMP
    Owner
    Validation Estimating LLC
    Leesburg VA
    1 (703) 945-5483
    jhollmann@validest.com
    ------------------------------



  • 6.  RE: (PUBLIC REVIEW DRAFT) 10S-90: Cost Engineering Terminology (Rev. August 15, 2023)

    Posted 08-17-2023 12:46 PM
      |   view attached

    Attached are comments by Larry Dysert.



    ------------------------------
    Christian Heller
    Director of Technical Guidance
    AACE International
    cheller@aacei.org
    ------------------------------



  • 7.  RE: (PUBLIC REVIEW DRAFT) 10S-90: Cost Engineering Terminology (Rev. August 15, 2023)

    Posted 08-21-2023 11:48 AM
      |   view attached

    Comment provided by Stanko Pavlovic is attached.



    ------------------------------
    Christian Heller
    Director of Technical Guidance
    AACE International
    cheller@aacei.org
    ------------------------------



  • 8.  RE: (PUBLIC REVIEW DRAFT) 10S-90: Cost Engineering Terminology (Rev. August 15, 2023)

    Posted 08-21-2023 05:36 PM
      |   view attached

    Comments by Dan Melamed are attached.



    ------------------------------
    Christian Heller
    Director of Technical Guidance
    AACE International
    cheller@aacei.org
    ------------------------------

    Attachment(s)