PMIS (PMBOK-aligned), and AACE Total Cost Management (TCM)
Framework Context
PMI (PMIS expectations) – Operational execution across PMBOK knowledge areas
AACE International (TCM Framework) – Cost, schedule, change, risk, and performance integration across lifecycle
Alignment with PMI PMIS (PMBOK-Based)
PMI expects a PMIS to support all Process Groups and Knowledge Areas in an integrated manner.
PMBOK Knowledge Areas vs Wrench Capabilities
B1 – Knowledge Area Coverages
| PMBOK Knowledge Area | PMIS Requirement | Wrench-SmartProject Compliance | Evidence |
|---|---|---|---|
| Integration Management | Integrated change control | Fully Compliant | Change impacts auto-reflected |
| Scope Management | WBS-driven execution | Fully Compliant | WBS → Deliverables → Documents |
| Schedule Management | Time-based control | Fully Compliant | Baseline vs actual dashboards |
| Cost Management | Cost forecasting & EVM | Fully Compliant | EAC, CV, SV metrics |
| Quality Management | Compliance documentation | Fully Compliant | QA/QC logs & approvals |
| Resource Management | Workforce tracking | Fully Compliant | Timesheets & productivity |
| Communications Management | Formal information flow | Fully Compliant | Transmittals & correspondence |
| Risk Management | Risk-response planning | Fully Compliant | Risk-cost-schedule linkage |
| Procurement Management | Contract performance | Fully Compliant | Commitments & claims tracking |
| Stakeholder Management | Controlled access | Fully Compliant | Role- & package-based access |
B2 – PMBOK Process Groups
| Process Group | Tender Requirement | Wrench-SmartProject Support |
|---|---|---|
| Initiating | Project setup & governance | ✔ |
| Planning | Baselines (scope, cost, schedule) | ✔ |
| Executing | Engineering, procurement, construction workflows | ✔ |
| Monitoring & Controlling | KPI, variance & trend analysis | ✔ |
| Closing | Handover & final accounts | ✔ |
Alignment with AACE Total Cost Management (TCM)
AACE focuses on cost certainty across the asset lifecycle.
Section C – AACE Total Cost Management (TCM) Compliance Matrix
| Ref | AACE TCM Requirement | Tender Evaluation Criteria | Wrench-SmartProject Compliance | Evidence |
|---|---|---|---|---|
| TCM-01 | Cost estimating | Structured, auditable estimates | Fully Compliant | BOQ & system-based estimates |
| TCM-02 | Cost planning | Cost-loaded plans | Fully Compliant | Schedule-linked budgets |
| TCM-03 | Cost control | Commitment & actual tracking | Fully Compliant | Real-time cost control |
| TCM-04 | Change management | Impact-based change control | Fully Compliant | Variation → cost & schedule impact |
| TCM-05 | Progress measurement | Earned value logic | Fully Compliant | Quantity-based progress |
| TCM-06 | Forecasting | Rolling EAC | Fully Compliant | Forecast driven by progress |
| TCM-07 | Performance measurement | Variance analysis | Fully Compliant | CV, SV, productivity KPIs |
| TCM-08 | Claims management | Contractual traceability | Fully Compliant | Claims linked to change events |
| TCM-09 | Asset handover | Lifecycle cost record | Fully Compliant | Final accounts & asset data |
What Differentiates Wrench-SmartProject from Generic PMIS Tools
| Area | Generic PMIS | Wrench-SmartProject |
|---|---|---|
| Framework Support | Reporting-level compliance | Workflow-enforced compliance |
| Cost Control | Financial summaries | TCM-grade cost engineering |
| Interfaces | Manual coordination | Native interface management |
| Change Control | Isolated change logs | Enterprise change impact engine |
| EPC Suitability | Limited | Designed for EPC & asset owners |