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

Part B: Course Detail

Teaching Period: Term2 2020

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: vehs@rmit.edu.a


Name and Contact Details of All Other Relevant Staff

Teacher
Auvi Tehzeeb
Phone: +61 3 9925 4522
Email: ah.tehzeeb@rmit.edu.au

Appointment by email

Teacher
Partha Halder
Phone: +61 3 9925 4503
Email: partha.halder@rmit.edu.au

Appointment by email

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

RMIT Course Code: BUIL 5990C

National Unit of Competency Code: CPCCBC5002A

Cluster name (If applicable):

 

RMIT Course Code: BUIL 5990C

National Unit of Competency Code: CPCCBC5002A

Nominal Hours: 60

  Program Title: : DIPLOMA OF BUILDING AND CONSTRUCTION (BUILDING)

Nominal Hours: 60

RMIT Program Code: C5256

National Program Code: CPC 50210

Date:  

Session of study

(Session Number)

Topic

Module Learning outcomes

/  Competency elements

Description of student centred tasks

Time allocation each session

(for each learning activity)

Description of Assessment tasks

 

Schedule for assessment Dates

 

Session 1

 

Introduction to Monitoring costing system

Introduction to the course content, assessments, basic terminologies
  • Brief overview of the course, assessment and submission mode
  • Discussion on basic terminologies used in monitoring project costs

2.5 hrs

 

 

 

 

 

 

 

 

 

 

 

Session 2

 

Identification of building/ construction costs, preparation of estimates

PC 1.1
  • Discussion on tendering, RFT and contracts.
  • Handout of 17 Cardigan ST drawings
  • Discussion on cost estimates and cost centres, Rawlinsons cost guide.
  • Class exercise on cost centre identification from 17 Cardigan ST drawings.

2.5 hrs

 

 

 

Session 3

 

Translate estimates into cost centres, appropriate to contract requirements

PC 1.2, 1.3
  • Revision on online quiz, translating estimates into cost centers,
  • Detail discussion on preliminaries, plumbing and other cost centers identification from drawings.
  • Introduction to Semester Long Assignment (Assessment 2-Part A), preparing FS for the assignment,
  • Online quiz in class

 

2.5 hrs

 

- Online Quiz 1- and Short questions

 

 

- Assessment 2- Part A

 

Assessment 1:

- will be available in CANVAS by Session 3

- Due date of completion by Session 5

Assessment 2 and 3

- AT2 (assessment 2) will be available in Session 3

- Assessment 2: due date is Session 11

 

Session 4

Codes of practice, standards, legislative requirements to consider in cost planning

PC 1.5
  • Discussion on codes of practice, standards and legislative requirements for cost planning (e.g. Building act and regulations, Australian Standards, Building permits and other certifications).
  • Preparing Financial Schedule for the building at 17 Cardigan Street drawings,
  • Make a detail list of your project breakdown, Assign costing against all cost centers,
  • Prepare a spreadsheet for the project (Excel file format)

 

2.5 hrs

 

 

 

Session 5

 

Risk assessment, compare estimated cost with estimated risk

PC 1.4
  • Discussion on Project risks, Type of risks/ risk identification,
  • Identification of possible risks in the given project (17 Cardigan Street)
  • Discussion on Financial Schedule (FS) for the building at 17 Cardigan Street drawings (continue from Session 4),
  • Preparing FS in the class

 

2.5 hrs

 

 

- Due date of completion of online quiz 1 by Session 5

Session 6

 

Cost Management and
Project expenditure schedule

PC 2.1
  • Introduction to Semester Long Assignment (Assessment 2- Part B), preparing FS for the assignment,
  • Step-by-step procedure of FS preparation, cost breakdown of cost centers and project expenditure monitoring
  • Discussion on inflation
  • Class exercise on cost estimation for cost centers,
  • Listing of cost centers and cost breakdown

 

 

2.5 hrs

 

- Assessment 3 (AT3)

- Assessment 3 (AT3)

- Assessment 3 (AT3) will be available in Session 6

 

- Assessment 3 (AT3): due date is Session 16

Session 7

Progress claims, variations, Security of payment act (SOPA)

PC 2.2
  • Identification of interim payments from FS and cash flow monitoring
  • Preparation of progress claim from FS
  • Discussion on Security of payment act (SOPA)
  • Continuation of Assessment 2 discussion

 

 

2.5 hrs

 

 

 

Session 8

 

Rise and Fall calculation, Cash Flow and Expenditure monitoring

PC 2.3, 3.1
  • Discussion on Rise and fall calculations,
  • Discussion on Building Cost Index (BCI)
  • Class exercise on Rise and fall calculations using BCI
  • Discussion on Cash flow monitoring
  • Class exercise on Cash flow monitoring
  • Continuation of Assessment 2 discussion

2.5 hrs

 

 

 

Session 9

 

Preparation of S-Curves and relevant Resource control

PC 3.2
  • Discussion on Cash flow and S-curves, types of S-curves
  • Preparation of S-curves from FS

Session 2:

  • Class exercise on S-curve preparation
  • Identification of variances from S-curves.

 

 

2.5 hrs

 

 

 

Session 10

 

Tutorial class on Assessment 2 – Part A

 
  • Discussion on Assessment 2 – Part A
  • Step-by-step procedure of FS preparation, cost breakdown of cost centers and project expenditure monitoring
  • Checking Part A1-A3

2.5 hrs

 

 

 

Session 11

 

Projected cash flow and payments – The network diagram and related Cost Control

PC 3.3-3.5, 4.1, 4.2
  • Discussion on Cash flow and projected payments
  • Discussion on early start late finish scenarios from S-curves and Gantt chart 
  • Class exercise on early start late finish scenarios
  • Discussion on Cost control techniques – Fast Tracking and Crashing
  • Continuation of Assessment 2 –Part A discussion

2.5 hrs

 

 

 

Session 12

 

Projected cash flow and payments – Creditors payment and budgeting

PC 4.3
  • Sub-contract Payment Control
  • Approval of sub-contract claims and supplier’s tax invoices
  • Recording supplier’s deliveries against amount ordered
  • Budget preparation
  • Bidding price finalization
  • Budget finalization
  • Budget cost and actual cost comparison

2.5 hrs

 

 

 

Session 13

 

Budgeting, Cost variation and remedial actions

PC 4.4, 4.5
  • Assessment 2 part B2 discussion
  • Cost variance from S-curves
  • Critical financial phases
  • Cost variances – practical examples
  • Cost variances – remedial actions
  • Budget costing – D&C contract
  • Budget cost finalization

 

2.5 hrs

 

 

 

Session 14

 

Final cost report and recommendations

PC 5.1, 5.2
  • Project reports
  • Discussion on Assessment part B.3
  • Discussion on Final cost report
  • Preparation of Final cost report from FS
  • Project cost report
  • Final cost report
  • Project cost summary
  • Recommendations

2.5 hrs

 

 

 

Session 15

Course review

and tutorial on Assessment 2-Part B

Overview of the whole course
  • Overview of the whole course
  • Discussion on Online quiz 2
  • tutorial on Assessment 2-Part B

 

2.5 hrs

 

 

 

Session 16

 

Online Quiz- 2

 
  • Instructions on Online quiz 2
  • Completing online quiz in class

 

2.5 hrs

 

 

 

 

Assessment 4 (AT4) – online quiz

- Assessment 4 (AT4): online quiz will be available in CANVAS in Session 16 and to be completed in the same Session


Learning Resources

Prescribed Texts


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 Task 1 Online Quiz 

Assessment Task 2 Project   Assessment Task 3 Project   Assessment Task 4 Final Online Quiz

 

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

Element / Performance Criteria Covered

Assessment Task 1

Assessment Task 2

Assessment Task 3

Assessment Task 4

1.1

  

X

 

 

1.2

X

X

 

 

1.3

X

X

 

 

1.4

X

X 

  

X

1.5

X

X

 

X

2.1

 

X

 

 

2.2

 

X

 

 

2.3

 

X

  

 

3.1

 

 

X

X

3.2

 

 

X

X

3.3

 

 

X

X 

3.4

 

 

X

X

3.5

 

 

X

 

4.1

 

 

X

 

4.2

 

 

X

 

4.3

 

 

X

X 

4.4

 

 

X

X 

4.5

 

 

X

 

5.1

 

 

X

  

5.2

 

 

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

Assessment Tasks

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

Assessment Task 1 Online Quiz and Short Questions

Assessment Task 2 Project-based Assignment   Assessment Task 3 Project-based Assignment   Assessment Task 4 Final Online Quiz   


Assessment Matrix

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

Element / Performance Criteria Covered

Assessment Task 1

Assessment Task 2

Assessment Task 3

Assessment Task 4

1.1

  

X

 

 

1.2

X

X

 

 

1.3

X

X

 

 

1.4

X

X 

  

X

1.5

X

X

 

X

2.1

 

X

 

 

2.2

 

X

 

 

2.3

 

X

  

 

3.1

 

 

X

X

3.2

 

 

X

X

3.3

 

 

X

X 

3.4

 

 

X

X

3.5

 

 

X

 

4.1

 

 

X

 

4.2

 

 

X

 

4.3

 

 

X

X 

4.4

 

 

X

X 

4.5

 

 

X

 

5.1

 

 

X

  

5.2

 

 

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.

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