The Association of Cost Engineers (ACostE) and the Institution of Engineering and Technology (IET) have signed a collaboration agreement, which will result in the formation of a new online home for project control engineers.  

The agreement, signed by the presidents of both organisations, will result in a number of outcomes, one of which will be the new online project control technical and professional network.  As an online home for project control engineers, it will improve the service to members and increase the effectiveness and efficiency of the institutions.  

As part of the collaboration, both organisations will work to cross promote their activities, including events, products and services.  

Chris Earnshaw, IET President, said, "The IET is delighted to be working with the ACostE. By jointly creating the project control technical and professional network, we envisage benefit for the members of both institutions and the project control community at large.  

"The IET will bring its international resources and structures for knowledge dissemination to the relationship in a way that will complement the ACostE's understanding of the sector's needs.  

"This collaboration agreement provides the first step in developing wider programmes that look beyond the scope of the technical and professional network, for example, in responding to consultations with Government and professional registration globally."  

Professor Rajkumar Roy, ACostE President, said, "ACostE is a specialist association promoting better understanding of true whole life cost for prediction, planning and control of projects. The collaboration between ACostE and IET is a significant step forward in promoting project control good practices within the engineering and technology communities. A technical and professional network on project control will provide new opportunities in knowledge provision and standards development in the area. ACostE and IET collaboration is a true example of cooperation between two learned bodies for the benefit of their memberships."