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Project Code of Accounts – Enhanced by Adding Construction or Environmental Remediation Industry Standards

  • 1.  Project Code of Accounts – Enhanced by Adding Construction or Environmental Remediation Industry Standards

    Posted 05-21-2023 12:46 PM

    A code of accounts (COA) is a highly useful tool, used to support project and program management in the development, collection, organization, and reporting of project data. COA-charge numbers, consist of alpha/numeric unique identifiers, designated by corporate and/or industry standards that are the primary vehicles for identifying and tracking costs on a project. Corporate charge numbering systems benefit from code of account with small footprints but high impact. In addition to capturing the normal labor, equipment, materials, and other direct costs, COAs can include other important cost information categories. Examples of standard components for COAs include MasterFormat, UNIFORMAT II, as well as the Environmental Cost Element Structure (for the environmental remediation industries).

    I will be presenting on this topic, along with @Bryan Skokan (my good friend and colleague at the Department of Energy), focusing on a single industry sector for environmental remediation projects. This presentation discusses the use of the AACE Recommended Practice (RP) 124R-22 “Project Code of Accounts – As Applied in the Environmental Remediation Industries.”

    This presentation is also a follow up - with significant improvements - to a recent presentation “Spotlight on RP 124R-22,” given in March.

    This talk at the Expo will discuss the benefits from using a COAs such as: improved project cost estimating, better management of actual costs, and a good methodology for archiving actual costs in a database for future use. I look forward to seeing anyone interested in this topic, including those who use COAs from communities such as the Earned Value Management and Cost Estimating communities. I look forward to presenting to professionals with a wide variety of backgrounds and hear your thoughts and questions.



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    Dan Melamed CCP EVP FAACE
    Program Analyst
    U.S. Department of Energy
    1 (301) 775-7286
    Disclaimer: this e-mail represents the view of its sender. This e-mail was not prepared as a product of the U.S. Government including the Department of Energy; no official endorsement should be inferred.
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