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: nick.reynolds@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Elvira Lourenco
elvira.lourenco@rmit.edu.au
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
None
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 |
Element: |
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 |
Element: |
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 |
Element: |
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
| Week 1 | 12 February 2024 |
Introduction to the course:
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
References
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 |
Project |
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
|
Project |
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 ryan.gunasekera@rmit.edu.au.
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.
Feedback
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