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

Part B: Course Detail

Teaching Period: Term2 2011

Course Code: BUIL5990C

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

School: 130T Engineering (TAFE)

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

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

None.

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

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 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

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

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.

The culmination of all assessments contributes to the final result for 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 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 CA (Competency Achieved) grade.

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


Assessment Matrix

Other Information

Competency requirements:
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.

All assessments for this course must be completed to achieve CA (Competency Achieved) grade. (65% equates to being competent per assessment). A competent grade for each assessment is required to pass this course..
Each assessment task will also carry a numerical weighting to be used for grading purposes. The grade applied to this weighting will only be awarded if a CA has been achieved in all compulsory assessment tasks.
If a student has been marked NYC (Not Yet Competent) in any of the assessment tasks, the weighting will carry no value until the student has obtained CA.
If a CA is achieved on re-assessment then a maximum mark of 50% of the original weighting will be granted for that assessment.

Course Overview: Access Course Overview