Elements and Performance Criteria
- Obtain current prices for project resources
- Project objectives, required work activities and available finance are identified and interpreted according to the project plan and enterprise guidelines.
- Resources required for project works are identified according to the project plan.
- Factors affecting resource costs are identified using available information.
- Add-on costs are taken into consideration according to enterprise guidelines.
- Appropriate tools and equipment are selected and used for the calculation and documentation of project costs.
- Calculate individual itemised costs of the project
- Unit and total cost for each resource item is calculated according to enterprise guidelines.
- Total itemised resource costs are evaluated against the financial schedule for the project.
- Adjustments are made where required to reconcile resource costs with project schedules in strict adherence to enterprise guidelines for costing a project.
- Prepare a summary of the cost of the project