Project Costing

CSM80001 12.5 Credit Points Hawthorn, Off-Campus

Duration

  • One Semester or equivalent

Contact hours

  • 48 hours

On-campus unit delivery combines face-to-face and digital learning.

Prerequisites

Assumed knowledge:
Competence in use of Microsoft Word and Excel 
 
Anti-requisite

Aims and objectives

The study modules for this course introduce students to the key indicators for a general understanding of project costing and project controls for civil engineering projects. It presents an overview of the main challenges and opportunities associated with project execution, risk, economics, estimating, tendering, planning and scheduling for project success. Factors that need to be familiar to and understood by project cost engineers are also outlined.
 
Unit Learning Outcomes (ULO)
On successful completion of this unit students will be able to:
 
1 Describe the various steps in a project life cycle and apply various project delivery systems for project execution (K3, K5, S4, A4)
2 Apply fundamentals of engineering economics, including the time value of money and various measures used to evaluate projects, compare financial alternatives such as cost-benefit analysis, cash and investment flows, inflation, escalation, and foreign exchange. (K2, K3, K6, S1)
3 Estimate and prepare bill of quantities using the Australian Standard method of measurement of civil engineering works and building works. (K2, A4)
4 Appreciate the fundamentals of planning and scheduling for project costing purpose in engineering projects (S2, S4, A3, A7)
5 Assess applicable project costs, apply estimating principles and generate various levels of cost estimates for different project phases. (K2, K3, S1, S4, A4)
6 Demonstrate professional purpose as an individual and as part of a team to evaluate project progress, forecast completion, manage change and risk, and communicate with stakeholders to deliver projects to budget and on time. (K6, S1, S4, A7)
7 Use engineering tools to formulate and manage project costing information for accurate and professional analysis and reporting. (K2, S4, A4)