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Overview of AACE’s Decision and Risk Management Professional Certification Wednesday, Oct 20th, 2010 Speakers: Maryam N

Overview of AACE’s Decision and Risk Management Professional Certification Wednesday, Oct 20th, 2010 Speakers: Maryam Nejad- TransCanada (Calgary) David Brady- Suncor ( Fort McMurray ). AGENDA. Purpose Background Scope Potential Candidates Candidate Experience Examination References

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Overview of AACE’s Decision and Risk Management Professional Certification Wednesday, Oct 20th, 2010 Speakers: Maryam N

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  1. Overview of AACE’s Decision and Risk Management Professional Certification Wednesday, Oct 20th, 2010 Speakers: Maryam Nejad- TransCanada (Calgary) David Brady- Suncor (Fort McMurray)

  2. AGENDA • Purpose • Background • Scope • Potential Candidates • Candidate Experience • Examination • References • Q&A

  3. PURPOSE • "Beta" exam in Anaheim in June 2011. • Potential candidates to be among the world's first DRMPs!

  4. BACKGROUND The Decision and Risk Management Professional (DRMP) certification task force has been working since June 2008 to develop : • An AACE Risk Management certification program • Additional Recommended Practices (RPs) on risk management topics • A suitable “Body of Knowledge” (BoK) • “Skills and Knowledge” (S&K) on risk management • A revised TCM 7.6 & 3.3 • Review 10s-90 Terminology • Exam questions

  5. SCOPE This AACE certification will cover: • The skills and knowledge of DRM Professional working within the processes defined by AACE’s Total Cost Management Framework (TCM) • An Integrated Approach to Portfolio, Program and Project Management • Process centers on making effective business investment decisions • Managing and controlling the assets and projects that result. • Encompass the entire life cycle of an enterprise’s assets and projects

  6. POTENTIAL CANDIDATES • Strong skills and knowledge in decision and risk management • Broad business and technical perspectives and experience • Skills and knowledge range • Not limited to risk managers, decision and risk management consultants, capital program managers or planners, project managers, value engineers, and cost engineers focused on risk management

  7. CANDIDATE EXPERIENCE • At least 12 full years of professional employment • At least 4 years focused on decision and risk management practice • 4 years may be substituted by a college/university degree in a business, technical, or science field • Public communication as evidenced by at least 4 papers presented , courses taught, workshops facilitated, organizations chaired, or similar

  8. EXAMINATION Exam design still to be determined but will be similar to CEP and PSP specialty exams . It will include 4 Parts: • 3 parts contain multiple choice questions from basic knowledge and comprehension through higher level analytical, assessment and synthesis skills. • 1 part will be a written communication. • "Beta" examinees will be surveyed • Those that pass will be fully certified.

  9. REFERENCES Study Guide • BoK • S&K • TCM • Suggested references

  10. DECISION AND RISK MANAGEMENT COMMITTEE Chair of DRM Committee under the Technical Board Michael W. Curran: Co-chairs of the DRMP Certification Task Force under the Certification Board Kevin Curran and John Hollmann : Responsible for the developing program and Technical RPs and Source of Resources DRM Committee

  11. QUESTION / ANSWER How long does it take to check applicant qualification prior to exam? • All application qualifications, money, etc. must be received by AACE Headquarters 60 days ahead of exam day • Final registration deadlines will be listed on the exam calendar

  12. QUESTION / ANSWER (Cont’d) Who is responsible to check qualifications? • The Certification staff at AACE HQ • After all the required information received then the candidate is given approval to sit for the exam.

  13. QUESTION / ANSWER (Cont’d) What is DRM Committee expectation from applicants after Beta-Exam? • To complete a survey and provide feedback

  14. QUESTION / ANSWER (Cont’d) How much is registration cost for Beta-Exam? Same price as all the other exams. • $350 for members • $500 for non-members At this time

  15. QUESTION / ANSWER (Cont’d) What's passing score /mark? This year the Cert Board has established a consistency for all the specialty exams and the CCC/CCE/CCT exam. • 70% average of ALL 4 parts including the memo part • All memos and technical papers are graded • Only a PASS / FAIL result

  16. ADDITIONAL INFORMATION • E-mail: • DRMCommitteeChair@aacei.org • Communication Venue: • AACE Forums at www.aacei.org/forums

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