1m|mP mamgme m|m©mcopyrightm2024/2025m|mGrade mA+
AACE CCT Primer Questions & 100%
m m m m m
Correct Answers m
The msum mofmthempracticesmandmprocessesmthatmanmenterprise musesmtommanage m
the mtotalmlifemcyclemcostminvestmentminmitsmportfoliomofmstrategic massetsmismcalled
✓ ~~>m TotalmCostmManagement
ismthe mapplicationmofmscientificmprinciplesmandmtechniquesmtomproblemsmof
:
- estimation
- costmcontrol
- businessmplanningm&mmanagementmscience
- profitability m analysis
- projectmmanagement
- planningm&mscheduling
✓ ~~>m CostmEngineering
Ismthe mvaluemofmanmactivitymormasset.mGenerally,mthismvaluemismdetermine
dmby mthe mcostmofmthe mresourcesmthatmaremexpendedmtomcomplete mthe mactivity
m ormproduce mthe masset.mAnmexample mwouldmbemthe mfacilitiesmneededmtompro
duce manmactivity mormasset,mwhichmwouldmincludemthemtooling,melectricity,mtaxe
s,mand
,Master01 m | September,m 2024/2025 |mLatestmupdate
m
, 2m|mP mamgme m|m©mcopyrightm2024/2025m|mGrade mA+
maintenance,metc.,mnecessarymtomkeepmthe mfacility mavailablemformuse.mOthermco
stsmmightmbe mofficemsupplies,mcommunicationmcosts,mtravelmcosts,mandmsecurit
y mcosts
✓ ~~>m Cost
Any mconsumable,mexceptmtime,mrequiredmtomaccomplishmanmactivity maremco
nsideredm
.mFrom mamtotalmcostmandmassetmmanagementmperspective
,
may mincludemanymrealmormpotentialminvestmentminmstrategicmasset
smincludingmtime,mmonetary,mhuman,mandmphysical.
✓ ~~>m Resources,mResources
Amresource mbecomesmamcostmwhenmitmism ormconsumedminmanm
ormproject
✓ ~~>m invested,mproject
Material,mlabor,mandm"other"mare mcategoriesmofm .
✓ ~~>m Resources
The mproductmlifecycle mismthe mcomplete mhistory mofmamproductmthroughmitsm ,
definition,mproduction,moperation,mandmobsolescence m/ phases.
, Master01 m | September,m 2024/2025 |mLatestmupdate
m
AACE CCT Primer Questions & 100%
m m m m m
Correct Answers m
The msum mofmthempracticesmandmprocessesmthatmanmenterprise musesmtommanage m
the mtotalmlifemcyclemcostminvestmentminmitsmportfoliomofmstrategic massetsmismcalled
✓ ~~>m TotalmCostmManagement
ismthe mapplicationmofmscientificmprinciplesmandmtechniquesmtomproblemsmof
:
- estimation
- costmcontrol
- businessmplanningm&mmanagementmscience
- profitability m analysis
- projectmmanagement
- planningm&mscheduling
✓ ~~>m CostmEngineering
Ismthe mvaluemofmanmactivitymormasset.mGenerally,mthismvaluemismdetermine
dmby mthe mcostmofmthe mresourcesmthatmaremexpendedmtomcomplete mthe mactivity
m ormproduce mthe masset.mAnmexample mwouldmbemthe mfacilitiesmneededmtompro
duce manmactivity mormasset,mwhichmwouldmincludemthemtooling,melectricity,mtaxe
s,mand
,Master01 m | September,m 2024/2025 |mLatestmupdate
m
, 2m|mP mamgme m|m©mcopyrightm2024/2025m|mGrade mA+
maintenance,metc.,mnecessarymtomkeepmthe mfacility mavailablemformuse.mOthermco
stsmmightmbe mofficemsupplies,mcommunicationmcosts,mtravelmcosts,mandmsecurit
y mcosts
✓ ~~>m Cost
Any mconsumable,mexceptmtime,mrequiredmtomaccomplishmanmactivity maremco
nsideredm
.mFrom mamtotalmcostmandmassetmmanagementmperspective
,
may mincludemanymrealmormpotentialminvestmentminmstrategicmasset
smincludingmtime,mmonetary,mhuman,mandmphysical.
✓ ~~>m Resources,mResources
Amresource mbecomesmamcostmwhenmitmism ormconsumedminmanm
ormproject
✓ ~~>m invested,mproject
Material,mlabor,mandm"other"mare mcategoriesmofm .
✓ ~~>m Resources
The mproductmlifecycle mismthe mcomplete mhistory mofmamproductmthroughmitsm ,
definition,mproduction,moperation,mandmobsolescence m/ phases.
, Master01 m | September,m 2024/2025 |mLatestmupdate
m
