Cost Planning Project

Overview

This is a WIL SPINE unit which aims to develop students’ capability to strategically plan and manage construction costs across the project lifecycle by applying cost planning principles, estimating techniques, and design economics. Students will work with relevant industry partner to prepare, analyse, communicate, and optimise cost plans that support project feasibility, value engineering, and informed decision‑making for building and infrastructure projects. Students will develop and apply skills in using computer tools like CostX, professional written communication, project planning, stakeholder engagement and decision making in construction projects.

Unit learning outcomes

Students who successfully complete this unit will be able to:

1. Explain the principles, processes, and strategic role of construction cost planning in managing project feasibility and financial performance across the project lifecycle.
2. Prepare cost plans for building and infrastructure projects using appropriate estimating techniques and cost data
3. Integrate design economics principles to evaluate cost implications of design decisions, materials, procurement strategies and construction methods to support value engineering and cost optimisation.
4. Use digital tools and workflows to develop, communicate, and report construction cost plans

Teaching methods

All applicable locations

Assessment

Content

Cost planning principles

Elemental and functional area rates

Contingency, allowances risk

Budgeting procedures

Budgeting cost indices

Pre-design and design feasibility procedures

Economic evaluation technique and matrices for financial decision making

Life cycle costing

Tax depreciation