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

Part B: Course Detail

Teaching Period: Term1 2018

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

Students will be involved in the following learning activities to meet requirements for this competency:

• Face to Face classes

• Simulated Workplace Learning

• Online learning via CANVAS

• 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

             

Session 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 CANVAS by Session 3 
- Due date of completion by Session 5

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

 - Assessment 2- Part A: due date is Session 12

Session 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 Session 2

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


- Assessment 2- Part A: due date is Session 12
- Assessment 2- Part B: due date is Session 16

Session 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 

 

Session 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 Session 12

Session 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 Session 16
- Assessment 3: Summative online quiz will be available in Bb in Session 16 and to be completed in the same Session

Session 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

Canvas 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

Assessments

Assessment mode

Competency weight

Handout date

Due date

Assessment 1

Formative- Online Quiz

S/NYS

Session 3

 

(Week 10)

Session 3-5 

Assessment 2- Part A

Summative Assignment-

Managing Project Budget

50% weight

Session 2

 

(Week 9)

Session 12

Assessment 2- Part B

Summative Assignment-

S-curves and Cost summary

30% weight

Session 6

 

(Week 11)

Session 16

Assessment 3

Summative- Online Quiz

20% weight

Session 16

 

(Week 16)

Session 16 

 

CANVAS


CANVAS is an online resource with the lesson plans for each unit. Within CANVAS are the session lessons plans, assessments, resources and other materials required for completion of each unit of competency. CANVAS Collaborate is an on-line delivery system within CANVAS 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 Equitable Learning Services (ELS) to seek advice and support to complete your studies. 

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) 1.1 1.2  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 Quiz X X X   X                              
Assignment Part A - Managing Project Budget X X X   X X X X                        

Assignment Part B -S-curves and Cost summary

      X       X X X X X X X X X X X X X
Summative- Online Quiz       X X       X X   X             X X

 

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

Equitable Learning Services (ELS):

If you are suffering from long-term medical condition or disability, you should contact Equitable Learning Services (ELS) to seek advice and support to complete your studies.
Please refer to https://www.rmit.edu.au/students/support-and-facilities/student-support/equitable-learning-services to find more information about services offered by Equitable Learning Services (ELS).

Late submission: 

If you require an Extension of Submittable Work (assignments, reports or project work etc.) for 7 calendar days or less (from the original due date) and have valid reasons, you must complete and lodge 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 2 working days of the date of lodgment as to whether the extension has been granted. 
If you seek an Extension of Submittable Work for more than 7 calendar days (from the original due date) must lodge an Application for Special Consideration form under the provisions of the Special Consideration Policy, preferably prior to, but no later than 2 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 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: www.rmit.edu.au/academicintegrity to find more information about plagiarism. 

Other Information: 

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

Course Overview: Access Course Overview