Aace 18r 97 2026

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The document is AACE® International Recommended Practice No. 10S-90, which provides a comprehensive glossary of cost engineering terminology. It serves as a reference for terms used within the field of cost engineering, particularly in relation to AACE's Total Cost Management Framework. The document includes definitions, change logs, and references, ensuring clarity and consistency in the use of terminology across various disciplines within cost engineering.

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What does AACE stand for?

0:00 13:35 As the class number decreases. Project definition increases and estimates become more refined.MoreAs the class number decreases. Project definition increases and estimates become more refined.

What are the 5 levels of cost estimation?

The American Society of Professional Estimators (ASPE) defines estimate levels in the reverse order as Level 1 Order (Range) of Magnitude, Level 2 Schematic/Conceptual Design, Level 3- Design Development, Level 4 Construction Document, and Level 5 Bid.

Which sector is AACE RP 18R written for?

NOTE: This table is based on AACE International Recommended Practice No. 18R-97: Cost Estimate Classification System As Applied in Engineering, Procurement, and Construction for the Process Industries.

What is 18r 97 process industries?

008 18r-97 Cost Etimate Classification System - in EPC For Process Industries. This document provides guidelines for classifying cost estimates for projects in the process industries. It defines five classes of cost estimates (Class 5 to Class 1) based on the level of project definition and design completeness.

What is the cost estimate classification system 96r 18?

The Cost Estimate Classification System maps the phases and stages of project cost estimating together with a generic project scope definition maturity and quality matrix, which can be applied across a wide variety of industries and scope content.