Overview

This unit aims to provide specialised knowledge and skills for estimating and managing costs in engineering projects.

Requisites

Antirequisites
CVE30004 Cost Engineering
Equivalent units
CSM80001 Project Costing
Teaching periods
Location
Start and end dates
Last self-enrolment date
Census date
Last withdraw without fail date
Results released date
Semester 2
Location
Hawthorn
Start and end dates
29-July-2024
27-October-2024
Last self-enrolment date
11-August-2024
Census date
31-August-2024
Last withdraw without fail date
13-September-2024
Results released date
03-December-2024

Learning outcomes

Students who successfully complete this unit will be able to:

  • Appreciate accounting principles and economic theories applicable in engineering projects.
  • Apply fundamentals of engineering economics for financial decisions in projects
  • Estimate and prepare bill of quantities using standard methods of measurement for building and civil engineering works
  • Develop and appraise early estimates, cost plans and tenders in construction projects.
  • Recommend suitable project financing options for different project delivery systems and commercial arrangements.
  • Analyse progress in engineering projects, develop project cost controls and prepare reports
  • Apply advanced techniques and tools for managing cost and commercial aspects of project and facility life-cycle.

Teaching methods

Hawthorn

Type Hours per week Number of weeks Total (number of hours)
On-campus
Lecture
2.00 12 weeks 24
Face to Face Contact (Phasing out)
Tutorial Labs
2.00 12 weeks 24
Online
Directed Online Learning and Independent Learning
1.00 12 weeks 12
Unspecified Activities
Independent Learning
7.50 12 weeks 90
TOTAL150

Assessment

Type Task Weighting ULO's
AssignmentIndividual/Group 60 - 80% 1,2,3,4,5,6,7 
Online QuizzesIndividual 10 - 20% 1,2,3,4,5,6,7 
PortfolioIndividual 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

Reading materials

A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.