AACE – Association of Advanced Cost Engineering

Professional Level Certifications

 Certified Cost Professional (CCP)
 Certified Estimating Professional (CEP)
 Earned Value Professional (EVP)
 Planning & Scheduling Professional (PSP)
 Project Risk Management Professional (PRMP)
AACE – Association of Advanced Cost Engineering
CEP Certification
Recommended Study Materials
Eligibility
 8 years industry related experience or  AACE's Certified Estimating Professional Study Guide

4 years industry related experience + 4-year  AACE’s Skills & Knowledge of Cost Engineering, 6th Edition
industry related college degree  AACE’s Recommended Practices 46R-11, 11R-88, and 10S-90
 Adherence to AACE's Canons of Ethics  AACE’s Total Cost Management Framework

 AACE's CEP Examinee Format of Definitions

Exam Structure
 5 hours maximum
 119 simple, multiple choice and compound, scenario questions
 Domains: Basic Estimating Knowledge (50), Complex Estimating
Problems (24), and Estimating Process & Practices (45)
 1 memo writing assignment with a given scenario and
instructions for writing a response in an onscreen text box Earning the certification
 An overall average score of 70% or higher is needed to pass the exam
 Closed Book
 The final exam result is arrived by averaging the score of all four domains:
 Any style, battery operated calculator permitted (not provided by Ex: Domain 1: 69% (fail domain) + Domain 2: 70% (pass domain) + Domain 3:
the testing center) 65% (fail domain) + and Domain 4: 76% (pass domain) / 4 domains = average
score of 70% (pass the exam)

http://web.aacei.org/certification/certification-information/certifications-offered/cep-details
AACE – Association of Advanced Cost Engineering
CCP Certification
Eligibility
 8 years industry related experience or
4 years industry related experience + 4-year
industry related college degree
 2,500 minimum word technical paper
 Adherence to AACE's Canons of Ethics
Exam Structure
 5 hours maximum
 120 simple multiple choice and compound, scenario questions
 Domains: Basic Skills & Knowledge (38), Economic Analysis
(28), Project Management (27), and Cost Estimating & Control
(27)
 Closed Book – onscreen formula sheet(s) will be available for use
 Any style, battery operated calculator permitted (not provided by
the testing center)
Recommended Study Materials
 CCP Technical Paper Handbook
 AACE's CCP Certification Study Guide
 AACE’s Recommended Practices 11R-88 and 10S-90
 AACE’s Skills & Knowledge of Cost Engineering, 6th Edition
 AACE’s Total Cost Management Framework
Earning the certification
  An overall average score of 70% or higher is needed to pass the
exam
 The final exam result is arrived by averaging the score of all four
domains:
Ex: Domain 1: 69% (fail domain) + Domain 2: 70% (pass domain) +
Domain 3: 65% (fail domain) + and Domain 4: 76% (pass domain) /
4 domains = average score of 70% (pass the exam)
 CCP candidates must also separately receive a 70% or higher on
the CCP technical paper
AACE – Association of Advanced Cost Engineering
 Development of alternatives
Memo Structure  Development of alternatives
 Development of outcome of each
Re-estimate project Cost using PERT method alternative
 Selection of the acceptable criteria.
 PROBLEM DEFINITION  Analysis and comparison of alternatives
Currently we are in the start beginning of Execution phase of Topside EPCI  Selection of the preferred alternative
project. The baseline duration has been setup. Prior to Kick of Meeting,  Performance monitoring and post
management is asking project team to estimate the duration of the project in evaluation of results
worst case, normal situation, best case and find the estimate cost that is
“technically justified”.
 Development of alternatives
There are some methods applicable to perform risk assessment. One of the
methods is PERT (Project Evaluation and Review Technique). This method
basically using weighted average of three numbers as follow:

 The most optimist case (O) where everything is goes right

 The most pessimist case (P) where everything is goes wrong
 Most likely case (M) where normal problem and opportunities is applied.
Basic formula of this method is summarized in the formula 1. as follow:
Z = (O + 4M + P)/6
Where:
•Z = applicable value of Estimate
•O = optimist case
•M = Most likely
•P = Pessimist case
AACE – Association of Advanced Cost Engineering
Memo Structure

 DEVELOPMENT OF OUTCOMES FOR EACH ALTERNATIVE

Using PERT method, every activity is measured and

the value of three numbers (optimist, most likely, and
pessimist) are identified and quantified.  The applicable
value (Z) is achieved by using formula 1.

As seen in this page figure, the total cost by applying

PERT method is increasing from 396.7 M USD (base
case) to 424.4 M USD.
AACE – Association of Advanced Cost Engineering
Memo Structure

 SELECTION OF ACCEPTED CRITERIA  ANALYSIS FOR THE ALTERNATIVES

By using the PERT method, it is

possible to find the cost of each
activity that highly potentially
happen during the execution
phase by considering of optimist,
most likely, and pessimist case.
It’s foreseen that each activity
has different cost even with most
likely ones.
Since the three value (optimist,
pessimist, and most likely) is
based on the expert judgment
(SME), the weighted average of
those judgment value is Figure.3. S Curve and Monthly Cost (Base case) and PERT applied
technically accepted.
Based on above Cost profile on figure.3, it is seen that cost of the project
increase following the duration extension. The cost each month is varied
following the activities in that months.
AACE – Association of Advanced Cost Engineering
Memo Structure
 SELECTION ON THE PREFERRED ALTERNATIVES  PERFORMANCE MONITORING AND POST EVALUATION
RESULT
As per request of the management is to identify the cost The result of PERT assessment is need to be
of the project using case of optimistic, most likely, updated periodically i.e. quarterly. This is
pessimistic, and “technically justified”. Based on the important in order all assumption that is made
theory and application above,  the PERT method is in beginning of the project still valid
applicable.
In summary, the total cost that “technically” justified
for the project increasing from 396.7 M USD (base
case) to 424.4 M USD. OPTIONAL

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AACE – Association of Advanced Cost Engineering

Referensi
Cost Estimating Humphrey
Cost Estimating Humphrey
SKCE - Cost Estimating
GAO – Cost estimating (Free)
DOE cost estmation - FREE
AACE – Association of Advanced Cost Engineering

Apply
Apply:
http://web.aacei.org/certification/certification-information/certifications-offered/cep-details
Response:

https://www.kryterion.com/locate-test-center/
https://www.kryterion.com/locate-test-center/
AACE – Association of Advanced Cost Engineering
Saran:
1.Group
2. Daftar Anggota (RP, Virtual Library, Majalah)