Total_Cost_Management
Total cost management (TCM) is the name given by AACE International to a process for applying the skills and knowledge of cost engineering. It is also the first integrated process or methodology for portfolio, program and project management. It was initially conceived by Thomas D. Fromm and John Nunnemaker of Perkins & Will, architects, in 1990 to apply to the design of the University of Illinois Life and Science Building and was presented as a concept to the Society of University and College Planners (SCUP) the following year. AACE first introduced the concept in the 1990s and published the full presentation of the process in the "Total Cost Management Framework" in 2006.[1]