Established in 1956, AACE International is the Association for the Advancement of Cost Engineering. Together with the AACE International Certification Institute, it serves over 10,000 members and certificants in 100 countries. Cost Engineering is a field of study using integrated means and methods to enable sound decision making in enterprise asset management. AACE’s Body of Knowledge is developed, refined, and deployed by industry professionals worldwide. (Source: web.aacei.org/about) The AACE provides cost estimate procedures including a cost estimate classification system.
Related Definitions in the Project: The Cost Estimate (Estimation)
