The majority of our collective RP guidance focuses on project delivery. The decisions that determine capital project outcomes are made well before that.

IPA's database of 24,000+ projects confirm it. Every one of the five failure dimensions in their framework is primarily caused before EPC authorization. The delivery phase inherits the consequences. The planning phase creates them.

CII's FEL study showed $15 in return per dollar invested in front-end preparation. Yet Owners continue authorizing portfolios on Class 5 and Class 4 estimates with accuracy ranges that make meaningful comparison between project candidates nearly impossible. IPA's benchmarking shows understaffed Owner teams are 25% more expensive with 20% more cost growth. These are Owner system failures, not contractor failures.

The APM Subcommittee exists to close this gap. We are building Recommended Practices for scope maturity at authorization, and life-cycle cost modeling. This extends AACE's rigor upstream into portfolio planning where the largest value leakage occurs.

If you work in capital planning or asset strategy on the Owner side, this is your professional home within AACE. Reach out through the community page or contact our subcommittee chairs directly.