This unit of competency specifies the outcomes required to monitor building or construction costing systems. The processes and practices involved in supervising and monitoring costing systems result in the ongoing maintenance of cost control and the production of expenditure schedules and other arrangements, which ensure contracts or projects remain on budget.

Unit details

Study level:
Vocational and further education (TAFE)
Unit code:


Assessment tasks will be designed to reinforce and extend knowledge and skill competence within set and controlled parameters in accordance with each unit's learning outcomes and performance criteria requirements, including 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: - account keeping skills to identify cost centres and monitor cash flows; - analysis and interpretation skills to undertake financial risk assessments; - enable clear and direct communication, using questioning to identify and confirm requirements, share information, listen and understand; - read and interpret documentation from a variety of sources; - supervise staff members; - use and interpret non-verbal communication; - use language and concepts appropriate to cultural differences; - written skills to prepare draft schedules of project expenditure and final cost reports; - management skills, including the ability to supervise staff; - numeracy skills to perform complex financial calculations, and; - preparation of schedules of expenditure and expenditure projections.Students will also be expected to demonstrate the following knowledge: - advanced estimating and costing systems used in the building and construction industry; - expenditure evaluation methods; - financial principles and cash flows; - project financial processes and timelines; - relevant licensing arrangements; - relevant standards, codes of practice and legislation for medium rise construction projects, and; - variations in rates occurring through rise and fall clauses and their effects.

Where to next?

As part of a course

This unit is studied as part of the following courses. Refer to the course page for information on how to apply for the course.

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