Course Title: Manage project cost

Part B: Course Detail

Teaching Period: Term1 2024

Course Code: BUSM6656C

Course Title: Manage project cost

Important Information:



School: 525T Business & Enterprise

Campus: City Campus

Program: C5405 - Diploma of Project Management

Course Contact: Nick Reynolds

Course Contact Phone: +6139 9250791

Course Contact Email:

Name and Contact Details of All Other Relevant Staff

Elvira Lourenco

Nominal Hours: 40

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


Course Description

In this course you will learn the skills and knowledge required to identify, analyse and refine project costs to produce a budget, and to use this budget as the principal mechanism to control project cost.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBPMG533 Manage project cost


1. Determine project costs

Performance Criteria:

1.1 Identify resource requirements for individual tasks identified in the work breakdown structure in consultation with relevant stakeholders

1.2 Estimate project costs for project budget to be prepared within agreed tolerances

1.3 Develop a project budget

1.4 Develop a cost-management plan for project finances according to scope of responsibility


2. Monitor and control project costs

Performance Criteria:

2.1 Implement agreed financial-management processes and procedures for monitoring actual expenditure against budget

2.2 Identify cost variations and evaluate alternative actions

2.3 Implement and monitor agreed actions for maintaining financial objectives

2.4 Provide accurate and timely financial reports


3. Complete cost-management processes

Performance Criteria:

3.1 Conduct activities to signify financial completion according to task and organisational requirements

3.2 Review project outcomes using available records

3.3 Review cost-management issues and document improvements

Learning Outcomes

On successful completion of this course you will have developed and applied the skills and knowledge required to demonstrate competency in the above elements.

Details of Learning Activities

A range of learning activities are planned for this course, including self-paced research and collaborative-based activities, The collaborative classroom-based activities will include group discussion, group problem-solving activities and opportunities to practice your skills in a simulated business environment. We expect you to participate and contribute to all scheduled learning activities.

Teaching Schedule

WeekWeek CommencingTopicAssessment / Learning activities
Week 1 12 February 2024

Introduction to the course:

  • Staff/student introduction
  • Overview of course
  • Plagiarism, student code of conduct
  • Student support services
  • Course outline and lesson structure
  • 'Rules of engagement'
  • Assessments

Introduction to Project Cost Management

Week 2 19 February 2024

Determine Project Costs


Week 3 26 February 2024

Determine Project Costs

AT1A: Conduct Consultation Session - Role Play

AT1A In Class

26 February 2024

Week 4 4 March 2024

Determine Project Costs

AT1B: Develop Project Budget

AT1B Due

(Sunday 11:59 pm)

Week 5 11 March 2024

Determine Project Costs


Week 6 18 March 2024

Monitor and Manage Project Costs


Week 7 25 March 2024

Monitor and Manage Project Costs

AT2A: Research Questions

AT2A Due

(Sunday 11:59 pm)

MID-SEMESTER BREAK: 01 to 07 April 2024

Week 8 8 April 2024

Monitor and Manage Project Costs


Week 9 15 April 2024

Monitor and Manage Project Costs

AT2B: Resolve Cost Variations & Analyse Possible Solutions


AT2B Due

(Sunday 11: 59 pm)

Week 10 22 April 2024

 Monitor and Manage Project Costs

Week 11 29 April 2024

Monitor and Manage Project Costs

AT2C: Monitor and Manage Project Costs

 AT2C Due

(Sunday 11:59 pm)

Week 12 6 May 2024

Develop Final Project Report


Week 13 13 May 2024

Develop Final Project Report

Week 14 20 May 2024

Develop Final Project Report

AT3: Final Project Report

 AT3 Due

(Sunday 11:59 pm)

Week 15 27 May 2024

Wrap up


Week 16-17 3 - 10 June 2024

Assessment Resubmissions


Week 18 17 June 2024

Grade Entry


Learning Resources

Prescribed Texts


Other Resources

Available on Canvas

Overview of Assessment

Assessment for this course is ongoing throughout the semester. Your knowledge and understanding of course content is assessed through participation in class exercises, oral/written presentations and through the application of learned skills and insights. Full assessment briefs will be provided and can be found on CANVAS.

Assessment Tasks

This unit requires you to complete three assessment tasks. You must satisfactorily complete all tasks to achieve competency for this unit. Refer to teaching schedule for assessment due dates.

Assessment Task

Assessment Method

Task Summary

Assessment Task 1:

Determine Project Costs – CBSA Company Conference Event

Project and role-play

This task consists of two parts.


Part A: Conduct consultation session.


Part B: Develop project budget.


Assessment Task 2:

Monitor and Manage Project Costs – CBSA Company Conference Event


This task consists of three parts.


Part A: Research Questions


Part B: Resolve Cost Variations and Analyse Possible Solutions


Part C: Monitor and Manage Project Costs


Assessment Task 3:

Develop Final Project Report – CBSA Company Conference Event



Develop Final Project Report

Resubmissions (VET Programs)

If you are found to be unsuccessful (Not Satisfactory/Unsatisfactory) in a Course Assessment Task, you will be allowed one resubmission. Your teacher will provide feedback regarding what you need to improve and set a new deadline for the resubmission.

If you are still not meeting the assessment requirements, you must apply to your Program Manager in writing, outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team, and you will be advised of the outcome as soon as possible.

Penalties for Late Submission

Late submissions of assignments without special consideration or extension will automatically be considered a re-submission (see above)

Assessment Matrix

The assessment matrix that maps all the assessments is available on CANVAS.

Other Information

Student Support

Your first point of contact for any support needs with your assessments should be your teacher and assessor. If you require further help, you should consider contacting the following support services at RMIT Student Support.

Assessment Adjustments

Students requiring support or adjustments for their formal assessment tasks should contact Equitable Learning Services (ELS) for more information on the types of adjustments provided, and access RMIT adjustments to assessment.

Extension of Time

If you require an extension of time to submit an assessment task, you can apply for an extension of time by completing the form at this link, and then emailing it together with your supporting documentary evidence to

You will be advised of the outcome of your application within 1 business day. Please ensure you read the general information about extension applications before you apply.

Special Consideration

If unexpected circumstances affect your ability to complete an assessment, you can apply for special consideration. For more information, access RMIT special consideration.

Changes to the Assessment Scheme

Where a change to assessment approved by the dean/head of school changes an assessment due date, students will be given at least five working days' notice of the new due date.


You can expect to receive marks and feedback on in-course assessment work in time to improve your performance in related assessment tasks later in the course.

Academic Integrity and Misconduct

Students demonstrate academic integrity in their assessment practices by:

  • engaging with assessment activities in an honest way.
  • providing accountability for the authorship and originality of work submitted.
  • acknowledging the work of others and the re-use of original work.

Academic misconduct is addressed in accordance with the Student conduct policy.

Assessment involving research with human participants, their information or their tissue, or animal subjects is carried out in accordance with the Staff ethics and integrity policy.

For further information see the Academic Integrity website.

Review and Appeal

A student may request a review of an assessment result or appeal a final course grade in accordance with the Conduct of Assessment and Appeals section of the Assessment Processes.

Grade Criteria

You must demonstrate that you have all the required skills/knowledge/elements in this unit of competency you are studying.

The following grades are available for this course.

Vocational educational grades:

CA - Competency Achieved

NYC - Not Yet Competent

DNS - Did Not Submit for assessment.

Course Overview: Access Course Overview