Course Title: Monitor building or construction costing systems on medium-rise building and construction projects

Part B: Course Detail

Teaching Period: Term2 2011

Course Code: BUIL5921C

Course Title: Monitor building or construction costing systems on medium-rise building and construction projects

School: 130T Vocational Engineering

Campus: City Campus

Program: C5201 - Diploma of Building and Construction (Building)

Course Contact: Program Manager

Course Contact Phone: +61 3 9925 4468

Course Contact Email: engineering-tafe@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Nominal Hours: 60

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites

NA

Course Description

This specifies the outcomes required to monitor building or construction costing systems. The processes and practices involved in supervising and monitoring costing systems result in the ongoing maintenance of cost control and the production of expenditure schedules and other arrangements, which ensure contracts or projects remain on budget. The unit supports the needs of builders, senior managers in building and construction firms, and other construction industry personnel responsible for monitoring building or construction costing systems for medium rise building and construction projects.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BCGBC5002A Monitor building or construction costing systems on medium-rise building and construction projects

Element:

Maintain continuous checks on expenditure and evaluate outcomes.

Performance Criteria:

1.1 Staff members are supervised in their identification of
building or construction costs and accurate estimates
are made from project schedules.
1.2 Definitive cost estimates are accurately translated into the
correct cost centres appropriate to contract requirements.
1.3 Cost centres are correctly identified and incorporated into
a planned project cost network.
1.4 Risk assessment is undertaken and estimated cost is
compared with estimated risk.
1.5 Planning ensures compliance with relevant codes of
practice, standards and legislative requirements.

Element:

Manage the preparation of a schedule of project expenditure.

Performance Criteria:

2.1 Draft schedules of project expenditure are prepared
with critical points identified.
2.2 Expenditure schedules are prepared using organisational
processes, and hard copies are produced.
2.3 Critical financial phases of the project are

Element:

Prepare curves showing projected cash flow and payments.

Performance Criteria:

3.1 Interim payment claims and rise and fall calculations are
prepared for the contractor and subcontractors.
3.2 Projected S curve is prepared to show cash flow and
resource control.
3.3 Projected cash flow and payments using time risk and
cost risk are prepared and compared.
3.4 Cash flows using early start and late finish for pessimistic
or optimistic outcomes are compared.
3.5 Pessimistic overdraft requirements are calculated.

Element:

Prepare final cost report.

Performance Criteria:

4.1 Cash flow and creditor payments are monitored daily.
4.2 Budget cost of the network is compared to actual costs in
the tender calculations.
4.3 Rise and fall clause calculations are undertaken and
financial controller is advised of variations.
4.4 Reasons for any cost variations are analysed and
identified.
4.5 Remedial action is taken and recorded as necessary to
retain contract financial compliance.

Element:

Supervise the identification and classification of project costs.

Performance Criteria:

5.1 Actual costs are compared with estimates at the
completion of the job and a report is compiled detailing
future actions.
5.2 Organisational rates are adjusted as required, based on
the final cost report and current movements in prices
and rates.


Learning Outcomes



Details of Learning Activities

Students will learn through a number of planned activities (face to face classes,

workplace/site visits, simulated workplace learning, online learning via blackboard and other forms of structured teaching and learning).

Students will be observed and assessed through their planned activities throughout the duration of the course.


Teaching Schedule

 

SemesterTopic Content Delivery
 


Topics are not necessarily studied in the order listed below.

1Building or construction costs and accurate estimates.
Cost centres appropriate to contract requirements.
Estimated cost is compared with estimated risk.
Planning complies relevant codes of practice, standards and legislative requirements.
Critical points project expenditure identification
Expenditure schedule and critical financial phases of the project.
Cash flow and payments including curves/graphs.
Interim payment claims and rise and fall calculations are prepared for the contractor and subcontractors.
Projected cash flow and payments using time risk and
2Cash flows using early start and late finish for pessimistic or optimistic outcomes are compared.
Pessimistic overdraft requirements are calculated.
Moniotoring of cash flow and creditor payments.
Budget cost comparisons to actual costs in the tender calculations.
Analysis and identification of cost variations are analysed and identified.
Remedial action to retain contract financial compliance.
Actual costs comparison for future actions.
Adjustment of organisational rates based on the final cost report and current movements in prices
and rates.


Learning Resources

Prescribed Texts

Nil


References

Students will be advised by the teacher.


Other Resources


Overview of Assessment

TBA


Assessment Tasks

There are 2 project based assessments (Assessments might have a Part A and a Part B to be submitted at different times), and 3 learning outcomes tests.

Assessment Tasks

Assessment 1– Assignments/Project Based Assessment  35%
The project based assessments will focus on different elements of the learning activities and address the students ability to both problem solve and provide meaningful solutions to the practical exercises that cover:
 - Site establishment and on site operations.

Assessment 2 – Assignments/Project Based Assessment  35%

Assessments 3, (4, & 5 – Written Learning Outcomes Tests (closed book)
This written learning outcome tests will a cover elements 1, 5 and parts of other elements not assessed by the assignments.
These tests will have a weighting of 10% each x 3 tests of the final overall assessment mark.

The culmination of all assessments contributes to the final result for this course.
All assessments for this course must be completed to achieve CP (Competency Achieved) grade.

A competent grade for each assessment is required to pass this course.


Under special circumstances extension to assessment may be granted. Students are to follow RMIT Special Consideration Policy found in RMIT Policies and procedures link http://www.rmit.edu.au/browse;ID=3g3whh1vttr0z;STATUS=A;SECTION=19;PAGE_AUTHOR=Chancellery


Assessment Matrix

Other Information

Competency requirements and Grading:

To be deemed competent students must demonstrate an understanding of all elements of a competency. Assessment methods have been designed to measure achievement of each competency in a flexible manner over multiple tasks.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Observation of students performing work is used to confirm competency.

All assessments for this course must be completed to achieve CP (Competent with Pass) to pass this course. In any assessment 50% equates to being Competent with Pass.
Higher gradings are available. The final grade for the course is calculated taking into account the weighting given to the separate assessments.
Gradings available are:
CP - 50 to 59 - Competent with Pass, CC - 60 to 69 - Competent with Credit, CDI - 70 to 79 - Competent with distinction, CHD - 80 to 100 - Competent with High Distinction. NYC - 0 to 49 - Not Yet Competent
.

Course Overview: Access Course Overview