The "updated" nature of this edition incorporates contemporary industry needs:
: Detailed methodologies for predicting costs from conceptual stages (Class 5) to definitive (Class 1) estimates. It emphasizes "should-cost" analysis and process-based models over simple historical averages.
: Utilizing Earned Value Management (EVM) and key performance indicators like CPI (Cost Performance Index) and SPI (Schedule Performance Index) to track progress.
Skills and Knowledge of Cost Engineering, Sixth Edition - AACE
: The framework that integrates cost engineering practices into a strategic business process for managing the life cycle of assets.