History
Cost engineering is a field of engineering practice that began in the 1950s (AACE International was founded in 1956). The skills and knowledge areas of Cost Engineers are similar to those of Quantity Surveyors. AACE International is one of many international engineering organizations representing practitioners in these fields. The International Cost Engineering Congress (ICEC) was founded in 1976 as a Worldwide Confederation of Cost Engineering, Quantity Surveying and Project Management Societies.
In 2006, AACE published the Total Cost Management (TCM) Framework which outlines an integrated process for applying the skills and knowledge of cost engineering (see References). This has also been called the world's first process for portfolio, program and project management.
Read more about this topic: Cost Engineering
Famous quotes containing the word history:
“There is no history of how bad became better.”
—Henry David Thoreau (1817–1862)
“There is no example in history of a revolutionary movement involving such gigantic masses being so bloodless.”
—Leon Trotsky (1879–1940)
“The one duty we owe to history is to rewrite it.”
—Oscar Wilde (1854–1900)