BSBPMG533 - Manage project cost
Nominal hours
Location
Prerequisites
Co-requisites
(Corequisite units must be studied concurrently with this unit)
Overview
This unit describes the skills and knowledge required to identify, analyse and refine project costs to produce a budget, and to use this budget as the principal mechanism to control project cost.The unit applies to individuals responsible for managing and leading a project in an organisation, business, or as a consultant.
Assessment
For Melbourne campuses
Assessment tasks will be designed to reinforce & extend knowledge and skill competence within set & controlled parameters in accordance with each unit’s learning outcomes & performance criteria requirements, incl the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines.
Students will be expected to demonstrate the following required skills:
* manage project cost on at least two occasions.
In the course of the above, the candidate must:
* monitor costs across a project’s life cycle including solving cost variations and analysing possible alternatives
* record expenditure, create accurate financial reports and review cost-management processes.
Students will also be expected to demonstrate the following knowledge:
* appropriate budgeting processes, tools and techniques
* methods and tools for costing and cost analysis
* strategies for managing costs and their application in different situations
* processes for reviewing costs against outcomes
* cost-analysis methods and tools for identifying and evaluating cost variations
* key organisational policies and procedures applicable to this role.
Required reading
The qualified trainer and assessor will provide teaching and learning materials as required in the form of workbooks produced by Victoria University and/or via the Victoria University e-learning system.
As part of a course
This unit is studied as part of the following course(s):