Estimating and Project Costing
48 hours face to face + blended
One Semester or equivalent
Hawthorn
Available to incoming Study Abroad and Exchange students
Overview
This unit aims to provide specialised knowledge and skills for estimating and managing costs in engineering projects.
Requisites
Teaching Periods
Location
Start and end dates
Last self-enrolment date
Census date
Last withdraw without fail date
Results released date
Semester 2
Location
Hawthorn
Start and end dates
29-July-2024
27-October-2024
27-October-2024
Last self-enrolment date
11-August-2024
Census date
31-August-2024
Last withdraw without fail date
13-September-2024
Results released date
03-December-2024
Learning outcomes
Students who successfully complete this unit will be able to:
- Appreciate accounting principles and economic theories applicable in engineering projects.
- Apply fundamentals of engineering economics for financial decisions in projects
- Estimate and prepare bill of quantities using standard methods of measurement for building and civil engineering works
- Develop and appraise early estimates, cost plans and tenders in construction projects.
- Recommend suitable project financing options for different project delivery systems and commercial arrangements.
- Analyse progress in engineering projects, develop project cost controls and prepare reports
- Apply advanced techniques and tools for managing cost and commercial aspects of project and facility life-cycle.
Teaching methods
Hawthorn
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| On-campus Lecture | 2.00 | 12 weeks | 24 |
| Face to Face Contact (Phasing out) Tutorial Labs | 2.00 | 12 weeks | 24 |
| Online Directed Online Learning and Independent Learning | 1.00 | 12 weeks | 12 |
| Unspecified Activities Independent Learning | 7.50 | 12 weeks | 90 |
| TOTAL | 150 |
Assessment
| Type | Task | Weighting | ULO's |
|---|---|---|---|
| Assignment | Individual/Group | 60 - 80% | 1,2,3,4,5,6,7 |
| Online Quizzes | Individual | 10 - 20% | 1,2,3,4,5,6,7 |
| Portfolio | Individual | 10 - 20% | 1,2,3,4,5,6,7 |
Content
The unit contents are in following 3 sets of components:
Component 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:
- 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:
- Project cost controls and reports
- Advanced tools for measurement, estimation and costing
Study resources
Reading materials
A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.