According to AACE standards, members must strive to increase what aspect of their profession?

The correct choice emphasizes the importance of both prestige and competence in the profession of cost management. According to AACE (Association for the Advancement of Cost Engineering) standards, members are expected to enhance their skills, knowledge, and overall performance in cost engineering and cost management. Competence refers to the ability to perform tasks effectively and efficiently, while prestige relates to the recognition and respect one garners in the field due to their expertise and contributions. By focusing on these aspects, AACE members not only improve their own careers but also elevate the standards of the profession as a whole, leading to greater trust and credibility within the industry.

Other options such as network and connections, revenue and profitability, or influence and reach do play important roles in professional development and success, but they do not capture the specific ethos of AACE's focus on enhancing skills and knowledge. The emphasis on competence ensures that professionals are continuously improving their abilities, while prestige serves as a reward for such improvements and contributions in the field of cost management.