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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Evaluate project opportunities
   • Critically evaluate the project proposals in a strategic context
   • Review financial criteria to determine economic feasibility of projects
   • Prioritise projects to leverage financial resources
2. Monitor the project performance
   • Direct the project schedule and budget development
   • Direct the integration of the project activities
   • Critically evaluate project performance, using earned value techniques
   • Proactively manage strategic projects’ risks and issues
   • Identify and take action to address unsatisfactory performance
3. Manage project completion activities
   • Direct financial completion
   • Establish the benefits realisation plans
   • Apply project lessons learned strategically

Performance Evidence

Evidence of the ability to:

select the project opportunities that align with the organisational strategic and financial goals

review and validate, high priority projects to be undertaken based on the trade-offs between benefits, risks and scarce financial resources

develop the schedule and budget for selected projects, to enable ongoing earned value performance measurement

review project performance and initiate appropriate corrective actions and audit activity, where necessary

establish and monitor, an agreed project benefits realisation plan.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

outline appropriate cost management and estimating methodologies, techniques and tools, their capabilities and limitations, applicability and outcomes

discuss business and commercial issues

discuss cost schedule control systems

outline the processes of delegation and the management of responsibilities for cost management

discuss the differences in work content, risk, processes, tools and techniques that apply in the various phases of recurring project life cycles, within a volatile program environment

explain the direction of project development and the management of program budgets

outline human resource management policies

discuss how to apply the principles and techniques relating to:

negotiation

risk management, including risk sharing and transfer

outline the organisational guidance and attitudes to cost management

outline organisational procurement guidelines

outline organisational policies, including project governance policies

discuss the principles of program project-cost management and its application

discuss project management systems, tools and techniques

outline the project specifications and objectives

outline the public relations policies and strategies

discuss the relationship of cost, time and resources, to the project management framework

describe the political climate and the organisation's culture

discuss the use of the budget as a control mechanism.

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