Cost Engineering Project
Overview
This unit aims to provide students with theoretical and practical knowledge and understanding of project costing and project controls for real infrastructure projects. By engaging with an infrastructure project, students will identify, analyse and manage the 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.
Requisites
Rule
175 credit points
OR
50 credit points for students in AB-APPTEC only
Assumed Knowledge
Competence in Microsoft Word and Excel
27-October-2024
27-October-2024
Learning outcomes
Students who successfully complete this unit will be able to:
- Prepare bill of quantities using the Australian Standard method of measurement of civil engineering works and building works (K2, A4)
- Recognise applicable project costs and apply estimating principles to prepare various levels of cost estimates for different project phases. (K2, K3, S1, S4, A4)
- Appreciate the fundamentals of project planning and scheduling for cost engineering purposes.(S2, S4, A3, A7)
- 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)
- Use engineering tools to manage cost information for accurate and professional analysis and reporting. (K2, S4, A4)
- Function professionally 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)
- Reflect on project experience and own performance using appropriate theories of reflexivity and identify areas for development. (A5, A6)
Teaching methods
Hawthorn
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| Live Online Lecture | 2.00 | 12 weeks | 24 |
| On-campus Lab | 2.00 | 12 weeks | 24 |
| Unspecified Activities Independent Learning | 8.50 | 12 weeks | 102 |
| TOTAL | 150 |
Assessment
| Type | Task | Weighting | ULO's |
|---|---|---|---|
| Applied Project | Group | 20 - 30% | 1,2,3,4,5,6,7 |
Content
- Measurement of quantities and tender bids
- Cost estimation for project scope
- Cost estimation for construction
- Risk assessment for evaluation of project contingency
- Project planning
- Project scheduling using computer software
- Project controls to analyse and report progress to management
- Introduction to engineering economics
- Commercial aspects and contracts
- Supporting cost engineering advanced spreadsheet technique
- Project delivery systems and commercial options
- Project and facility life cycle, from origin to obsolescence
- Reflective practice for improvement
•   Graduate Attribute – Communication Skills: Verbal communication
•   Graduate Attribute – Communication Skills: Communicating using different media
•   Graduate Attribute – Teamwork Skills: Collaboration and negotiation
•   Graduate Attribute – Teamwork Skills: Teamwork roles and processes
•   Graduate Attribute – Digital Literacies: Technical literacy
Study resources
Reading materials
A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.