Cost Management

Subject ABPL90312 (2011)

Note: This is an archived Handbook entry from 2011.

Credit Points: 12.50
Level: 9 (Graduate/Postgraduate)
Dates & Locations:

This subject has the following teaching availabilities in 2011:

Semester 2, Parkville - Taught on campus.
Pre-teaching Period Start not applicable
Teaching Period not applicable
Assessment Period End not applicable
Last date to Self-Enrol not applicable
Census Date not applicable
Last date to Withdraw without fail not applicable


Timetable can be viewed here. For information about these dates, click here.
Time Commitment: Contact Hours: 48 hours (2 hour lecture & 2 hour tutorial per week)
Total Time Commitment: 120 hours
Prerequisites:

The following subject is a prerequisite:

Subject
Study Period Commencement:
Credit Points:
Corequisites: None specified.
Recommended Background Knowledge: Basic Computer Applications
Non Allowed Subjects: None specified.
Core Participation Requirements: For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this course are articulated in the Course Description, Course Objectives and Generic Skills of this entry.

The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/

Coordinator

Dr Ajibade Aibinu

Contact

Environments and Design Student Centre
Ground Floor, Baldwin Spencer (building 113)

Enquiries
Phone: 13 MELB (13 6352)
Website: http://www.msd.unimelb.edu.au

Subject Overview: This subject deals with pre-construction cost management process. It aims to give students the knowledge of the processes involved in establishing and maintaining client’s budget at the design stage. It provides students with skills needed to effectively monitor the budget for a simple building project on a regular basis during the design stage by cost planning of evolving design, and preparing cost estimate at detailed design and tender documentation stage. Topics covered include Design Economics; Cost planning and control in building design: cost estimating procedure and simple cost modeling techniques. Quantification, measurement, and documentation including the following aspects: purpose and preparation of Bill of Quantities (BoQ); Processes of preparing BoQ including: taking-off, working-up, abstracting and billing; types of bill formats and their uses; basic principles of measurement and description of works: the use of Australian Standard Method of Measurement (SMM) for construction works in practice, principles of measurement and description of the following: Groundwork, Concrete (including reinforcement and formwork), Masonry, Timber Pitch Roof, and Internal Finishes for simple residential building. Pricing of measured items: building-up of unit rates. Introduction to computerized measurement. Tender process.
Objectives: Upon completion of this subject students should:
  • Be able to describe the role of cost management of building works.
  • Be able apply the Australian Standard Method of Measurement to quantification of the works for simple buildings.
  • Be able to measure and prepare bill of quantities for ground works; masonry; concrete/reinforcement and form work; simple timber pitched timber roof; roofing, and finishes.
  • Be able to price measured building work items.
  • Be able to describe the application of computer software to measurement of building works.
  • Know how to apply cost forecasting methods at pre-construction stage.
  • Be able to explain the theory and practice of competitive tendering.
Assessment:
  • Five practical exercises and assignments due fortnightly through out semester - 40% (equivalent 2,000 words)
  • 3-hour exam during the exam period, 60% (equivalent 3,000 words)
Students are required to achieve a mark of at least 40% in the exam in order to pass the subject.

Attendance and participation in 80% of the tutorials is a mandatory requirement for passing the continuous assessment component of this subject.
Prescribed Texts:
  1. Marsden, P. (1998) Basic Building Measurement, NSW University Press
  2. AIQS et al (1990) Australian Standard Method of Measurement. AIQS & MBCHAA.
  3. Smith, J. and Jaggar, D. (2007) Building Cost Planning for the Design Team, 2nd edition, Elsevier, Oxford.
Breadth Options:

This subject is not available as a breadth subject.
Fees Information: Subject EFTSL, Level, Discipline & Census Date
Generic Skills: At the completion of the subject students should have developed the following skills and capabilities:
  • Effective participation as a team member.
  • Written, verbal and visual presentation of ideas
  • Correct use of technical terminology relating to cost planning and quantification of building works
  • Information gathering and critical synthesis skills
  • The ability to apply relevant processes and standards to specific examples
  • Identification and familiarity with building components
  • Understanding of construction documentation used in residential construction.
Related Course(s): Master of Construction Management

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