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Project Costing

Unit Code: HES6175D

Duration

Contact Hours

Campus

Prerequisite

Corequisite


1 Semester

Equivalent to 36 hrs contact time or 150 hrs total study time

Off-Campus


PG: Nil
UG: Not offered

 
Nil

Credit Points: 12.5 Credit Points

> Related Course/s
> Teaching Methods
> Assessment
> Aims & Objectives
> Generic Skills Outcomes
> Content
> Reading Materials

Related Course/s:

This unit of study is available in a number of postgraduate programs including


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Aims & Objectives:

The study modules for this unit 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.
 
On completion of this unit the participant will: 
1. Gain insights into concepts of project and facility life cycles and their use
    in evaluating project viability.
2. Have a better understanding of various types of Project Delivery Systems
    (PDS) and the most appropriate of these to recommend for various
    contracting situations and circumstances.
3. Have an awareness the role of Risk in project evaluation and decision making
    and techniques for formulating appropriate strategies to minimise or modify
    potential risks. Techniques for quantifying and ranking risk and mapping the
    results to develop strategies for applying risk reduction.
4. Have a better understanding of project controls and their practical application
    to monitoring, reporting and forecasting the progress of a project.
5. Have an understanding of the technique for comparing economic alternatives,
    particularly those that occur in different time frames.
6. Be able to prepare order of magnitude estimates, tender estimates with
    quantity calculations, production rates etc. for project scope and tender
    submission.
7. Have a better understanding of the basis for planning engineering construction
    projects and a knowledge of setting such information into a construction
    schedule.
8. Be able to apply computer techniques and cost engineering tools to
    manage quantities of information for accurate estimating and reporting
    during project execution.
9. Have an overview of types of contracts, tender submission, evaluation and
    application related to project costing


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Teaching Methods:

Distance Education via Blackboard and email.


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Assessment:

Seven Individual Assignments (worth 100%)


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Generic Skills Outcomes:

On successful completion of this unit, students will have:
  • Ability to apply knowledge of basic science and engineering fundamentals.
  • Ability to communicate effectively, not only with engineers but also with the community at large.
  • In-depth technical competence in at least one engineering discipline.
  • Ability to understand problem identification, formulation and solution.
  • Ability to utilise a systems approach to design and operational performance.
  • Ability to function effectively as an individual in a project team, have the capacity to be a leader or manager as well as an effective team member.
  • Understanding of the social, cultural, global and environmental responsibilities of the professional engineer, and the need for sustainable development. Understanding of the principles of sustainable design and development.
  • Understanding of professional and ethical responsibilities and have a commitment to uphold these responsibilities.
  • Expectation of the need to undertake lifelong learning, and capacity to do so


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Content:

Projects & project life cycles, Project delivery systems & commercial options, Introduction to engineering economics, interest / DCF / cash flows / escalation, Measurement of quantities (Australian Standard AS 1181), Work planning & the development of crews and production rates, Work scheduling (bar charts / CPM / PERT), Cost estimation (order of magnitude / preliminary / definitive / detailed), Commercial aspects of Standard Conditions of Contract (AS 2124 and AS 4000 series), Risk Analysis AS / NZS 4360, Time & cost control during project execution and ongoing activities.

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Reading Materials:

Fails Management Institute, Financial Management for Contractors, McGraw-Hill, New York, 1981.
Rogers, M, Engineering Project Appraisal, B Publications, 2001.


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