Course Title: Manage project cost

Part B: Course Detail

Teaching Period: Term1 2023

Course Code: BUSM6656C

Course Title: Manage project cost

Important Information:

Please note that this course may have compulsory in-person attendance requirements for some teaching activities. 

To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption. 

Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT:

Please read the Student website for additional requirements of in-person attendance: 


Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance. 

School: 525T Business & Enterprise

Campus: City Campus

Program: C5405 - Diploma of Project Management

Course Contact: Nick Reynolds

Course Contact Phone: +61399250791

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 8 27 March 2023

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 9 3 April 2023

Determine Project Costs

  • AT1A: Conduct Consultation Session - Role Play
  • AT1B: Develop Project Budget

AT1: Draft Submission

(Saturday 11:59 PM)

Mid-Semester Break - 10-16 April 
Week 10 17 April 2023

Determine Project Costs

  • AT1A: Conduct Consultation Session - Role Play
  • AT1B: Develop Project Budget

AT1 Due

(Saturday 11:59 PM)

Week 11 24 April 2023

Monitor and Manage Project Costs

  • AT2A: Research Questions
  • AT2B: Resolve Cost Variations and Analyse Possible Solutions

AT2: Draft Submission

(Saturday 11:59 PM)

Week 12 1 May 2023

Monitor and Manage Project Costs

  • AT2B: Resolve Cost Variations and Analyse Possible Solutions
  • AT2C: Monitor and Manage Costs

AT2 Due

(Saturday 11:59 PM)

Week 13 8 May 2023

Develop Final Project Report

  • AT3: Monitor and Manage Costs

AT3: Draft Submission

(Saturday 11:59 PM)

Week 14 15 May 2023

Develop Final Project Report

  • AT3: Monitor and Manage Costs

AT3 Due

(Saturday 11:59 PM)

Weeks 15-18   Assessment resubmissions  

Learning Resources

Prescribed Texts


Other Resources

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