Spotlight on Recommended Practice 139R 25: Cost Estimate Classification System - As Applied in Decommissioning for the Offshore Petroleum Exploration and Production Industries

About Recommended Practice 139R 25:
As a recommended practice (RP) of AACE International, the Cost Estimate Classification System provides guidelines for applying the general principles of estimate classification to project cost estimates (i.e., cost estimates that are used to evaluate, approve, and/or fund projects). The Cost Estimate Classification System maps the phases and stages of cost estimating together with a generic scope definition maturity and quality matrix, which can be applied across a wide variety of industries and scope content.

This recommended practice provides guidelines for applying the principles of estimate classification specifically to decommissioning for offshore petroleum exploration and production (E&P) industries. It supplements the generic cost estimate classification RP 17R-97 by providing:

• A section that further defines classification concepts as they apply to decommissioning in the offshore E&P industries.
• A chart that maps the extent and maturity of estimate input information (project definition deliverables) against the class of estimate.

About AACE Recommended Practices:
The AACE International Recommended Practices (RPs) are a series of documents that contain valuable reference information that has been subject to a rigorous review process and recommended for use by the Technical Board. RPs are intended to be the main technical foundation of AACE educational, and certification products and services. All RPs are available to AACE members free of charge.

NOTE: The webinar is free, but registration is required. CEUs will be available for both members and nonmembers. You will need to create an AACE International account prior to registering if you do not already have one. Click here and then choose 'New User' to create your AACE account.