AACE DRMP case studies
AACE DRMP · Put your knowledge to work in context.
The Decision and Risk Management Professional (DRMP) is one of the credentials that AACE International lists in the certification area of its website under the heading "Expertise Certifications," alongside the CFCC. Expertise certifications differ in intent from AACE's professional certifications such as the CCP or PSP: they are aimed at practitioners who want to demonstrate depth in a specialized decision-analysis or risk discipline rather than broad competence across the whole cost engineering body of knowledge. The AACE DRMP case studies are 5 cases and about 3,415 words.
1Water Main Rehabilitation: EMV, Exposure Limits, and Break-Even
A municipal utility must rehabilitate 6.4 km of 60-year-old cast iron water main. The capital committee has three shortlisted options.
655 words, about 3 min2Turnaround Contingency: Monte Carlo Percentiles Versus Summed Expected Values
A 30-month refinery turnaround has a deterministic estimate of 48.0M. A Monte Carlo simulation of the cost model returns P50 = 50.6M, P80 = 55.4M, and P90 = 59.1M.
704 words, about 4 min3Bridge Bid Decision: Expected Value and the Price of Imperfect Information
A contractor is deciding whether to bid a 42M design-build bridge. Preparing the bid costs 250,000 and is incurred whether or not the contract is won.
675 words, about 3 min4Switchgear Delay: Secondary Risk and Schedule-Critical Response Selection
A data-center construction project has a 45% probability of a four-week delay in switchgear delivery, costing 1.2M in liquidated damages. The project manager proposes air-freighting the switchgear at a cost of 380,000, which would reduce the delay probability to 15% but would add a 10% chance of a 600,000 customs hold.
683 words, about 3 min5Bus Depot Site Selection: Weighted Scoring With a Non-Compensatory Constraint
A transportation authority must select a site for a new bus depot. Three sites are scored on a 1–5 scale.
698 words, about 3 min