Units
Managing Project Cost
Unit code: BEB113
Contact hours: 3 per week
Credit points: 12
Information about fees and unit costs
Cost is a major metric of a successful project management. This unit introduces the process of managing project cost which includes planning, estimating, budgeting, and controlling costs so that the project can be completed within the approved budget.
Availability
| Semester | Available |
|---|---|
| 2013 Semester 2 | Yes |
Sample subject outline - Semester 2 2013
Note: Subject outlines often change before the semester begins. Below is a sample outline.
Rationale
Cost is a major metric of a successful project management as projects represent an investment to organizations. Through this unit, you will gain a thorough knowledge of and will develop skills in planning, estimating, budgeting, and controlling costs so that the project can be completed within the approved budget.
Aims
The aim of this unit is to introduce you to the process of managing project cost which includes planning, estimating, budgeting, and controlling costs.
Objectives
Unit Specific Objectives:,/strong>
On completion of this unit, you should be able to:
1. Identify the benefits and implications of resource planning and performance measurement in managing project cost;
2. Apply relevant techniques and tools in the preparation of cost estimates and project budget as well as in the monitoring of project cost performance;
3. Demonstrate the understanding of project cost performance analysis.
Graduate Capabilities:
On completion of this unit, you will have developed the following generic skills:
A. Higher-order analysis and critical thinking pertinent to a particular discipline area;
B. critical, creative and analytical thinking and effective problem-solving;
C. the ability to work independently and collaboratively.
Content
This unit covers the followings: principles of project cost management, project cost management & life cycle of project, various approaches of cost estimating, cost budgeting, project cost accounting, cost monitoring and control, cost reporting, and earned value analysis.
Approaches to Teaching and Learning
This unit will involve lectures, including guest lecturers as appropriate, interactive class discussions, case studies, readings and submissions.
Assessment
This unit incorporates combined formative/summative assessment. The assessment, through submission of two assignments, which will be marked using criterion referenced assessment (CRA) and returned with feedback to enable students to understand how they are progressing and how their work can be improved. The other assessment takes the form of final closed-book exam.Mode of feedback: Criterion referenced assessment.
Assessment name:
Report
Description:
Individual report on cost estimating
Relates to objectives:
Objectives/Graduate capabilities: 1 / a, b, c
Weight:
20%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Week 5
Assessment name:
Report
Description:
Group report on sources of finance in projects
Relates to objectives:
Objectives/Graduate capabilities: 1, 2, 3 / a,b,c
Weight:
30%
Internal or external:
Internal
Group or individual:
Group
Due date:
Week 10
Assessment name:
Examination (Theory)
Description:
Individual examination
Relates to objectives:
Objectives/Graduate capabilities: 1, 2, 3 / a, b, c
Weight:
50%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Exam Period
Academic Honesty
QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.
A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.
Resource materials
Required:
Recommended:
· Smith, N. J. (1995), Project cost estimating London : T. Telford
· Taylor. J. C. (2008), Project scheduling and cost control : planning, monitoring and controlling the baseline, Ft. Lauderdale, Fla. : J. Ross Pub.
Other resources
Risk assessment statement
You will undertake lectures, tutorials (face-to-face sessions) in the traditional classrooms and lecture theatres at QUT Gardens Point Campus. As such, there are no extraordinary workplace health and safety issues or risks associated with any components of the unit.
Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.
Last modified: 17-Jul-2012
