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The current and official versions of the course specifications are available on the web at https://www.usq.edu.au/course/specification/current.
Please consult the web for updates that may occur during the year.

CMG2002 Cost Management: Estimating, Measurement and Cost Control

Semester 1, 2021 Online
Short Description: Cost M'ment: Est,Meas&CstCntrl
Units : 1
Faculty or Section : Faculty of Health, Engineering and Sciences
School or Department : School of Civil Engineering and Surveying
Student contribution band : Band 2
ASCED code : 040307 - Building Construction Economic
Grading basis : Graded
Version produced : 17 April 2021

Staffing

Examiner: Amirhossein Heravi

Requisites

Pre-requisite: CMG1001 and ENG1100

Other requisites

Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at http://www.usq.edu.au/current-students/support/computing/hardware

Rationale

Clients, contractors, and subcontractors need a thorough understanding on how to estimate the cost of a given project when commissioning projects and also when tendering for projects. Additionally they should be able to plan, manage and control the cost throughout the project lifecycle. Accordingly, it is important that clear understanding of procedures and processes used is developed including an understanding on how costs could be planned and controlled to meet the budgetary provisions of the client and to meet profit margins for the contractor.

Synopsis

This course introduces students to cost management topics including cost planning and controlling. Measurement processes for the pricing of quantities using standard building and civil measurement will be investigated and students will be introduced to standard computer programs which are available to assist with estimation and cost management.

Objectives

The course objectives define the student learning outcomes for a course. On completion of this course, students should be able to:

  1. Outline and apply a project scope plan;
  2. Apply commonly used measurement techniques in Construction projects;
  3. Explain and apply price break down and rate build-up techniques;
  4. Apply the process of estimation and prepare a bill of quantity for a small construction project;
  5. Explain the processes for cost management and control;
  6. Apply cost planning and control techniques used for construction projects;
  7. Utilise computing software and including the relevance of BIM to assist in cost management.

Topics

Description Weighting(%)
1. Introduction to project scope plan 10.00
2. Evaluating basic principles of measurement of building and civil works 10.00
3. Preparation of pricing documents and understanding estimation process 10.00
4. Calculation of construction labour, material, plant, equipment and indirect cost 10.00
5. Estimating cost of building and civil works 15.00
6. Assessing Tender collation and submission process 5.00
7. Introduction to cost estimation software and the application of BIM in cost management 15.00
8. Discuss Cost planning for construction projects 10.00
9. Implement Cost control processes and techniques 15.00

Text and materials required to be purchased or accessed

ALL textbooks and materials available to be purchased can be sourced from USQ's Online Bookshop (unless otherwise stated). (https://omnia.usq.edu.au/textbooks/?year=2021&sem=01&subject1=CMG2002)

Please contact us for alternative purchase options from USQ Bookshop. (https://omnia.usq.edu.au/info/contact/)

Marsden, P 1998, Basic Building Measurement, 2nd edn, NSW University Press, Sydney.

Reference materials

Reference materials are materials that, if accessed by students, may improve their knowledge and understanding of the material in the course and enrich their learning experience.
AIB (1995), Guide to Estimating Practice for Building Work, 6th edn, Australian Insitute of Building, NSW.
AIQS (2000-2006), Australian Cost Management Manuals 1-5, Australian Institute of Quantity Surveyors, Canberra.
Australia Institute of Quantity Surveyors 2016, Australian Standard Method of Measurement, 6th edn, Canberra.
Smith, J & Jaggar, D (2016), Building cost planning for the design team, 3rd edn, Butterworth-Heinemann, Oxford.
Taylor, James C (2008), Project scheduling and cost control planning, monitoring and controlling the baseline, NSW.

Student workload expectations

Activity Hours
Assessments 50.00
Directed Study 52.00
Examinations 2.00
Private Study 51.00

Assessment details

Description Marks out of Wtg (%) Due Date Notes
ASSIGNMENT 1 250 25 02 Apr 2021
ASSIGNMENT 2 250 25 19 May 2021
OPEN ONLINE EXAM 500 50 End S1 (see note 1)

Notes
  1. This will be an online exam. Students will be provided further instruction regarding the exam by their course examiner via StudyDesk. The examination date will be available via UConnect when the Alternate Assessment Schedule has been released.

Important assessment information

  1. Attendance requirements:
    There are no attendance requirements for this course. However, it is the students' responsibility to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.

  2. Requirements for students to complete each assessment item satisfactorily:
    To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks available.

  3. Penalties for late submission of required work:
    Students should refer to the Assessment Procedure http://policy.usq.edu.au/documents.php?id=14749PL (point 4.2.4)

  4. Requirements for student to be awarded a passing grade in the course:
    Due to COVID-19 the requirements for S1 2021 are:
    To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.

    Requirements after S1 2021:
    To be assured of receiving a passing grade a student must obtain at least 50% of the total weighted marks available for the course (i.e. the Primary Hurdle), and have satisfied the Secondary Hurdle (Supervised), i.e. the end of semester examination by achieving at least 40% of the weighted marks available for that assessment item.

    Supplementary assessment may be offered where a student has undertaken all of the required summative assessment items and has passed the Primary Hurdle but failed to satisfy the Secondary Hurdle (Supervised), or has satisfied the Secondary Hurdle (Supervised) but failed to achieve a passing Final Grade by 5% or less of the total weighted Marks.

    To be awarded a passing grade for a supplementary assessment item (if applicable), a student must achieve at least 50% of the available marks for the supplementary assessment item as per the Assessment Procedure http://policy.usq.edu.au/documents/14749PL (point 4.4.2).

  5. Method used to combine assessment results to attain final grade:
    The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course.

  6. Examination information:
    Due to COVID-19 the requirements for S1 2021 are:
    An Open Examination is one in which candidates may have access to any printed or written material and a calculator during the examination.

    Requirements after S1 2021:
    The examination is restricted and candidates are allowed to bring a scientific calculator into the examination.

  7. Examination period when Deferred/Supplementary examinations will be held:
    Normally Deferred and Supplementary Examinations are held in the next Examination period. In S1 2021 selected courses will pilot an early Deferred and Supplementary Examination period held within 30 business days of results release. The list of courses involved can be found at https://cmsauth.usq.edu.au/current-students/academic/exams/supplementary-and-deferred-assessment.

  8. University Student Policies:
    Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at http://policy.usq.edu.au.

Date printed 17 April 2021