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

Part B: Course Detail

Teaching Period: Term1 2021

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

Auvi Tehzeeb
Teacher
Ph:  +613 9925 4522
Email:  ah.tehzeeb@rmit.edu.au Appointments by email
Partha HalderTeacher
Phone: +61 3 9925 4503
Email: partha.halder@rmit.edu.au
Appointments by email   Thierry DemathieuProgram Manager
Ph: +613 9925 8359
Email: thierry.demathieu@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

 

Week

Topics

Assessments

1
  • MPC Introduction
  • Common terminologies

 

 

2
  • Tender & Contracts
  • Cost estimate general discussion
  • Cost guide book introduction
  • Assessment-2 introduction (AT2-T1a-1c)
  • Cost center discussion
  • Online quiz-1 (AT1)

 
  • AT1 start and AT2 start

3
  • Cost center List (AT2-T1a-1c)
  • Online quiz-1 (AT1) – if not done

 

 

4
  • Cost center breakdown (AT2-T1c)
  • Project risk
  • Other cost considerations
  • Online quiz-1 (AT1) – if not done

 

 

5
  • Cost center drawing section (AT2-T1b)
  • Introduction of FS (AT2-T2a)
  • FS Income details (AT2-T2a)
  • Online quiz-1 (AT1) – if not done

 
  • AT1 done

6
  • FS summary(AT2-T2a)
  • Critical phase discussion
  • Completing (AT2-T2b)

 

 

7
  • AT2 finalization (Part AT2-T3>>class presentation)

 
  • AT2 done (in-class)

8
  • Introduction to AT3 progress claim 
  • Discuss Rise and Fall and Cost Index

 
  • AT3 start
  • Last class before Mid-sem break

 

Mid semester Break

 

9
  • AT3 – T1a, 1b progress claim 
  • Rise and Fall calculation practice
  • Security of Payment Act (SOPA) 

 

10
  • S-curve and Cash flow (AT3 – T2a, T2bi)
  • EVM introduction
  • Submission AT2

11
  • Cash flow detail (AT3 – T2bii)
  • EVM detail discussion

 

 

12
  • Network activity diagram
  • Critical path 
  • (AT3 – T2c and 2d)
  • Tutorial on AT2 (all 6 tasks)

 

 

13
  • Cost record (AT3 – T3a, 3b)
  • Bookkeeping

 

14
  • Cost variation (AT3 – T3c, 3d)
  • Profit loss analysis
  • Final cost report (AT3 – T4a, 4b)

 

 

15
  • Revision Class
  • Tutorial on AT3 (all 12 tasks)

 
  • Submission of AT3

 

16
  • Online quiz-2 (60 minutes quiz) – AT4
  • Submission of AT4

 


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 

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


Assessment Matrix

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

Element

Performance criteria

 

 

Assessment

Task 1: Knowledge

Assessment

Task 2: Product

Assessment

Task 3: Product

Assessment

Task 4: Knowledge

1. Supervise the identification and classification of project costs.

1.1. Staff members are supervised in their identification of building or construction costs and accurate estimates are made from project schedules.

 

1a, 1c

 

 

1.2. Definitive cost estimates are accurately translated into the correct cost centres appropriate to contract requirements.

Q5, 11

1a, 1b, 1c

 

 

1.3. Cost centres are correctly identified and incorporated into a planned project cost network.

Q7, 17, 21, 23, 

1a

 

 

1.4. Risk assessment is undertaken, and estimated cost is compared with estimated risk.

Q2

1a

 

Q21, 72

1.5. Planning ensures compliance with relevant codes of practice, standards and legislative requirements.

Q1, 3, 4, 9, 10, 14, 15, 20, 25

1a

 

Q5, Q43, 44, 45, 49, 50, 52, 60, 71

2. Manage the preparation of a schedule of project expenditure.

2.1. Draft schedules of project expenditure are prepared with critical points identified.

 

2a

 

 

2.2. Expenditure schedules are prepared using organisational processes, and hard copies are produced.

 

2a

 

 

2.3. Critical financial phases of the project are identified, and cash flows are matched to expenditure.

 

2b

 

 

3. Prepare curves showing projected cash flow and payments.

3.1. Interim payment claims and rise and fall calculations are prepared for the contractor and subcontractors.

 

 

1a, 1b

Q2, 3, 12, 19, 21, 39, 40, 47, 54, 62

3.2. Projected S curve is prepared to show cash flow and resource control.

 

 

2a

Q7, 10, 55

3.3. Projected cash flow and payments using time risk and cost risk are prepared and compared.

 

 

2b

Q1, Q11, 36, 46, 48, 51, 59

3.4. Cash flows using early start and late finish for pessimistic or optimistic outcomes are compared.

 

 

2c

Q9, 14, 17, 27

3.5. Pessimistic overdraft requirements are calculated.

 

 

2d

 

4. Maintain continuous checks on expenditure and evaluate outcomes.

4.1. Cash flow and creditor payments are monitored daily.

 

 

3a

 

4.2. Budget cost of the network is compared to actual costs in the tender calculations.

 

 

3b

 

4.3. Rise and fall clause calculations are undertaken and financial controller is advised of variations.

 

 

3c

Q3, 12, 19, 21, 40, 62

4.4. Reasons for any cost variations are analysed and identified.

 

 

3d

Q4, 6, 29

4.5. Remedial action is taken and recorded as necessary to retain contract financial compliance.

 

 

3d

 

5. Prepare final cost report.

5.1. Actual costs are compared with estimates at the completion of the job and a report is compiled detailing future actions.

 

 

4a

 

5.2. Organisational rates are adjusted as required, based on the final cost report and current movements in prices and rates.

 

 

4b

 

 

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