Estimating and Project Costing
Duration
- One Semester or equivalent
Contact hours
- 48 hours face to face + blended
On-campus unit delivery combines face-to-face and digital learning.
2024 teaching periods
| Hawthorn Higher Ed. Semester 2 |
||
|---|---|---|
Dates: Results: Last self enrolment: Census: Last withdraw without fail: |
Prerequisites
Nil
Anti-Requisite (similar content)
Equivalent
Aims and objectives
This unit aims to provide specialised knowledge and skills for estimating and managing costs in engineering projects.
Unit Learning Outcomes (ULO)
On successful completion of this unit students will be able to:
1. Appreciate accounting principles and economic theories applicable in engineering projects.
2. Apply fundamentals of engineering economics for financial decisions in projects
3. Estimate and prepare bill of quantities using standard methods of measurement for building and civil engineering works
4. Develop and appraise early estimates, cost plans and tenders in construction projects.
5. Recommend suitable project financing options for different project delivery systems and commercial arrangements.
6. Analyse progress in engineering projects, develop project cost controls and prepare reports
7. 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
Hawthorn
Type | Hours per week | Number of Weeks | Total |
On Campus Lecture | 2 | 12 | 24 |
| On Campus Tutorial in (Comp Lab) | 2 | 12 | 24 |
| Online Activities | 1 | 12 | 12 |
| Unspecified Activities Independent Learning | 7.5 | 12 | 90 |
TOTAL | 150 hours |
Assessment
| Types | Individual/Group Role | Weighting | Unit Learning Outcomes (ULO) |
| Assignment | Individual/Group | 60-80% | 1,2,3,4,5,6,7 |
| Portfolio | Individual | 10-20% | 1,2,3,4,5,6,7 |
| Online Quizzes | 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
- Recommended reading.
Recommended reading
A list of reading materials and/or required texts will be made available in the Unit Outline.