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

Part B: Course Detail

Teaching Period: Term1 2017

Course Code: BUIL5990C

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

School: 174T School of VE Engineering, Health & Science

Campus: City Campus

Program: C5256 - Diploma of Building and Construction (Building)

Course Contact: Program Manager

Course Contact Phone: +61 3 9925 4338

Course Contact Email: vocengineering@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Dr Partha Halder
E-mail: partha.halder@rmit.edu.au



 


 

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

Nil

Course Description

This unit of competency 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. In order to achieve the outcomes for this unit, knowledge of relevant legislation, codes and standards, industry estimating and costing systems, and financial principles is required.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

CPCCBC5002A Monitor costing systems on medium rise building and construction projects

Element:

1. Supervise the identification and classification of project costs.

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:

2. 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 identified and cash flows are matched to expenditure.

Element:

3. 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:

4. Maintain continuous checks on expenditure and evaluate outcomes.

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:

5. Prepare final cost report.

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


Refer to elements.
 


Details of Learning Activities

Please refer to teaching schedule below.


Teaching Schedule

             

Week 1-3

- Monitoring costing system introduction
- Identification of building/ construction costs, preparation of estimates
- Translate estimates into cost centres, appropriate to contract requirements
 

- Assessment 1: Formative online quiz 
- will be available in Blackboard (Bb) by week 3 
- Due date of completion by week 5

 

- Part A of assessment 2 will be available in week 2

 

- Assessment 2- Part A: due date is week 11


 

Week 4-6
 

- Codes of practices, standards, legislative requirements for cost planning
- Risk assessment, compare estimated cost with estimated risk
- Draft schedule of project expenditure
 

- Assessment 2- Part A and B 
           

- Part A of assessment 2 will be available in week 2

- Part B of assessment 2 will be available in week 6


- Assessment 2- Part A: due date is week 11
- Assessment 2- Part B: due date is week 15
 

Week 7-9

- Progress claims, variations, Security of payment act (SOPA)
- Inflation, Rise and Fall calculation, Cash Flow monitoring
- Preparation of S-Curves and relevant Resource control 

 

 

Week 10-12

- Tutorial class on Assessment 2 – Part A
- Projected cash flow and payments – The network diagram and related Cost Control
- Earned Value Management (EVM) and Cost performance analysis

 

- Assessment 2- Part A: due date is week 11

Week 13-16

- Budgeting, Cost variation and remedial actions
- Final cost report and recommendations
- Course review

and tutorial on Assessment 2-Part B 

 

- Assessment 2- Part B: due date is week 15
- Assessment 3: Summative online quiz will be available in Bb in week 16 and to be completed in the same week
 

Week 17-18

- Review and feedback
- Supplementary and deferred assessments
 

 


Learning Resources

Prescribed Texts

Rawlinsons Australian Construction Handbook 2013, Rawlinsons Publishing, Perth, WA    - NRM1 Cost Management Handbook 2014, by David P. Benge, Publisher: Routledge, Taylor & Francis Group 
 

Building cost guide. Housing, Victoria-2016. Cordell Building Publications.

A guide to the project management body of knowledge (PMBOK® Guide)-2008. Project Management Institute (U.S.)


References


Other Resources

Blackboard online resources


Overview of Assessment

Assessment will incorporate a variety of methods including written,oral, practical tasks and activities. You will be asked to personally demonstrate to your teacher/assessor the practical skills gained during this course to the relevant industry standards. Assessment activities will occur throughout this course and feedback will be provided at regular intervals.

Assessment Tasks

Students must pass each of the following assessment tasks to demonstrate competent.

Assessment

Weight

Assessment 1

Formative- Online Quiz

S/NYS

Assessment 2- Part A

Written Assignment

50%

Assessment 2- Part B

Written Assignment-S-curves and Cost summary 

30%

Task 3

Summative- Online Quiz

20%

These tasks assesses the following Course Learning Outcomes (CLOs):

Assessment Mapping Matrix

Element / Performance Criteria Covered

Assessment 1

Assessment 2A

Assessment 2B

Assessment 3

1.1

X

X

 

 

1.2

X

X

 

 

1.3

X

X

 

 

1.4

 

 

X

X

1.5

X

X

 

X

2.1

 

X

 

 

2.2

 

X

 

 

2.3

 

X

X

 

3.1

 

 

X

X

3.2

 

 

X

X

3.3

 

 

X

 

3.4

 

 

X

X

3.5

 

 

X

 

4.1

 

 

X

 

4.2

 

 

X

 

4.3

 

 

X

 

4.4

 

 

X

 

4.5

 

 

X

 

5.1

 

 

X

X

5.2

 

 

X

X

 

 

 

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


Assessment Tasks

You must pass each of the following assessment tasks to demonstrate competent.

 

Assessments

Assessment Description

Weightage

Assessment 1

Formative- Online Quiz

S/NYS

Assessment 2- Part A

Written Assignment

50%

Assessment 2- Part B

Written Assignment

30%

Assessment 3

Summative- Online Quiz

20%

A satisfactory grade (≥ 50% marks) must be achieved in all assessments and parts of it in order to pass the course.

Assessment Plan

Assessment TasksAssessment modeCompetency weightHandout dateDue date
Task 1Formative- Online QuizS/NYSWeek 3Week 3-5
Task 2- Part AAssignment-
Managing Project Budget
 
50% weightWeek 2Week 11
Task 2- Part BAssignment-
S-curves and Cost summary
 
30% weightWeek 6Week 15
Task 3Summative- Online Quiz20% weightWeek 16Week 16

Blackboard 

Blackboard is an on-line resource with the lesson plans for each unit. Within Blackboard are the session lessons plans, assessments, resources and other materials required for completion of each unit of competency. Blackboard Collaborate is an on-line delivery system within Blackboard that may be utilised as a virtual classroom that may be a part of the overall lesson delivery plan. 

Projects and Presentations

Students are required to complete an individual written assessment and include group discussions to provide evidence of the competency in the unit.

 

Reasonable Adjustment

Students with a disability or long-term medical or mental health condition can apply for adjustments to their study and assessment conditions (Reasonable Adjustments and Equitable Assessment Arrangements) by registering with the Disability Liaison Unit (DLU) at http://www1.rmit.edu.au/browse;ID=jvfh87gfsfux1 

Graded Assessment 

You will need to obtain Satisfactory (S) in all assessment tasks before grading can occur. 
Marks from assessments will count towards a final grade only if the individual assessment result is satisfactory (S) 

Grade Table

NYC Not Yet Competent / NYS in any of the above assessments 
GAG Competent – Pass
CC Competent – Credit
CDI Competent – Distinction
CHD Competent – High Distinction


Assessment Matrix

Elements (UoC)1.11.2 1.3 1.4 1.5 2.1 2.2 2.3 3.1 3.2 3.3 3.4 3.5 4.1 4.2 4.3 4.4 4.5 5.1 5.2 
Assessments                    
Formative- Online QuizXXX X               
Assignment Part A - Managing Project BudgetXXX XXXX            

Assignment Part B -S-curves and Cost summary

   X   XXXXXXXXXXXXX
Summative- Online Quiz   XX   XX X      XX

 

Other Information

Credit Transfer and/or Recognition of Prior Learning (RPL):

You may be eligible for credit towards courses in your program if you have already met the learning/competency outcomes through previous learning and/or industry experience. To be eligible for credit towards a course, you must demonstrate that you have already completed learning and/or gained industry experience that is:
• Relevant
• Current
• Satisfies the learning/competency outcomes of the course

Please refer to http://www.rmit.edu.au/students/enrolment/credit to find more information about credit transfer and RPL.


Study and Learning Support:

Study and Learning Centre (SLC) provides free learning and academic development advice to you. Services offered by SLC to support your numeracy and literacy skills are:
• Assignment writing, thesis writing and study skills advice
• Maths and science developmental support and advice
• English language development

Please refer to http://www.rmit.edu.au/studyandlearningcentre to find more information about Study and Learning Support.


Disability Liaison Unit:

If you are suffering from long­term medical condition or disability, you should contact Disability Liaison Unit to seek advice and support to complete your studies.
Please refer to http://www.rmit.edu.au/disability to find more information about services offered by Disability Liaison Unit.


Late Submission:

If you require an Extension of Submittable Work (assignments, reports or project work etc.) for seven calendar days or less (from the original due date) and have valid reasons, you must complete an Application for Extension of Submittable Work (7 Calendar Days or less) form and lodge it with the Senior Educator/ Program Manager.

The application must be lodged no later than one working day before the official due date. You will be notified within no more than two working days of the date of lodgement as to whether the extension has been granted.

If you seek an Extension of Submittable Work for more than seven calendar days (from the original due date), you must lodge an Application for Special Consideration form under the provisions of the Special Consideration Policy, preferably prior to, but no later than two working days after the official due date.
Submittable Work (assignments, reports or project work etc.) submitted late without approval of an extension will not be accepted or marked.


Special Consideration:

Please refer to http://www.rmit.edu.au/students/specialconsideration to find more information about special consideration.


Plagiarism:

Plagiarism is a form of cheating and it is very serious academic offence that may lead to expulsion from the university.
Please refer to http://www.rmit.edu.au/academicintegrity to find more information about plagiarism.


Email Communication:

All email communications will be sent to your RMIT email address and you must regularly check your RMIT emails.

Course Overview: Access Course Overview