Cost Planning and Control

Unit code: NBC4003 | Study level: Undergraduate
Credit points
12
(Generally, 1 credit = 10 hours of classes and independent study.)
Location
Footscray Park
Online Real Time
Prerequisites
NBC2006 - Professional Estimating
(Or equivalent to be determined by unit coordinator)
Overview
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Overview

This unit investigates the principles of design economics applied to buildings and the role of cost planning during design development. Students will be introduced to the principles of cost planning and design economics including various techniques in cost planning, stages of design development, adjustment of building historical prices and accuracy in cost control. Life cycle costing, including the use of discounting in comparative situations, and its importance in the assessment of environmental sustainability will also be discussed.

Learning Outcomes

On successful completion of this unit, students will be able to:

  1. Critically review the process and procedures of cost planning in the design and construction of buildings and different cost planning techniques in relation to a cost control system;
  2. Interpret principles of design economics, forecast building prices and extrapolate historical data in relation to formulating cost plans during early building design stages;
  3. Formulate cost planning actions in design briefing stage, outline proposal stage, sketch design stage and tender documentation stage to compute elemental cost plan;
  4. Analyse life cycle cost studies including life cycle costing (LCC) basic principles, methodology of LCC, application of discounting in LCC calculations; and
  5. Devise an appropriate life cycle cost evaluation of different design options to the client and stakeholders.

Assessment

For Melbourne campuses

Assessment type: Assignment
|
Grade: 10%
Preliminary Report
Assessment type: Test
|
Grade: 20%
Test 1
Assessment type: Project
|
Grade: 30%
Team Case Study
Assessment type: Project
|
Grade: 10%
Team Presentation
Assessment type: Test
|
Grade: 30%
Test 2

Required reading

Required reading materials will be available in VU Collaborate.

As part of a course

This unit is studied as part of the following course(s):

Bachelor of Construction Management (Honours)
NHCM | Bachelor honours degree | Duration: 4 years

Refer to the course page for information on how to apply for the course. VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.

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