Estimating and Project Costing
Duration
- One Semester or equivalent
Contact hours
- 48 Hours
On-campus unit delivery combines face-to-face and digital learning.
2022 teaching periods
Hawthorn
| Higher Ed. Semester 2 | ||
|---|---|---|
Dates: Results: Last self enrolment: Census: Last withdraw without fail: |
Aims and objectives
This unit aims to provide specialised knowledge and skills for estimating and managing costs in engineering projects.
| Unit Learning Outcomes | |
|---|---|
| On successful completion of this unit students will be able to: | |
| # | Unit Learning Outcome Description |
| ULO1 | Appreciate accounting principles and economic theories applicable in engineering projects. |
| ULO2 | Apply fundamentals of engineering economics for financial decisions in projects |
| ULO3 | Estimate and prepare bill of quantities using standard methods of measurement for building and civil engineering works |
| ULO4 | Develop and appraise early estimates, cost plans and tenders in construction projects. |
| ULO5 | Recommend suitable project financing options for different project delivery systems and commercial arrangements. |
| ULO6 | Analyse progress in engineering projects, develop project cost controls and prepare reports |
| ULO7 | Apply advanced techniques and tools for managing cost and commercial aspects of project and facility life-cycle. |
Unit information in detail
- Teaching methods, assessment and content.
Teaching methods
| All Applicable Locations | |||||
|---|---|---|---|---|---|
| Activity Type | Activity | Total Hours | Number of Weeks | Hours Per Week | Optional - Activity Details |
| Face to Face Contact | Lecture | 24 | 12 weeks | 2 | No Description |
| Face to Face Contact | Tutorial Labs | 24 | 12 weeks | 2 | No Description |
| Online | Directed Online Learning and Independent Learning | 12 | 12 weeks | 1 | |
| Unspecified Learning Activities | Independent Learning | 90 | 12 weeks | 7.5 | No Description |
| Total Hours: | 150 | Total Hours (per week): | 12.5 | ||
Assessment
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Content
The unit contents are in following 3 sets of components:
Component 1: Estimating and Project Costing – Part 1
Component 1: Estimating and Project Costing – Part 1
- Measurement of quantities
- Early estimation
- Cost planning for construction
- Cost estimation for project scope and construction
- Cost prediction and analysis
- Risk assessment for evaluation of project contingency
Component 2: Estimating and Project Costing – Part 2
- Fundamentals of engineering economics
- Macro and micro economic theories applicable to construction economics
- Accounting principles and procedures
- Project financing for different project delivery systems and commercial options
- Commercial aspects of Project and facility life cycle.
Component 3: Estimating and Project Costing – Part 3
- Project cost controls and reports
- Advanced tools for measurement, estimation and costing
Study resources
- References.
References
A list of reading materials and/or required texts will be made available in the Unit Outline.