Application
This unit of competency describes the skills and knowledge required to cost a project.
All work must be carried out to comply with organisational requirements, work health and safety legislation and codes, sustainability practices and in consultation with the management team.
This unit applies to individuals who take responsibility for their own work and provide and communicate solutions to a range of predictable and sometimes unpredictable problems.
No occupational licensing, legislative or certification requirements are known to apply to this unit at the time of publication.
Elements and Performance Criteria
Element | Performance criteria |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Determine resources required for the project | 1.1 Identify and interpret project objectives, required work activities and available finance in line with enterprise guidelines and legislative requirements where required 1.2 Identify resources required for project works 1.3 Identify factors affecting resource costs using available information 1.4 Select and use appropriate tools, equipment and technology for the calculation and documentation of project costs |
2. Calculate individual itemised costs of the project | 2.1 Calculate unit and total cost for each resource item 2.2 Evaluate total itemised resource costs against the financial schedule for the project 2.3 Make adjustments where required to reconcile resource costs with project schedules 2.4 Identify and determine costs for peripheral works arising from the project |
3. Prepare a summary of the cost of the project | 3.1 Collate and schedule resource costs 3.2 Calculate and record total project costs 3.3 Submit financial summary for approval |
Evidence of Performance
The candidate must be assessed on their ability to integrate and apply the performance requirements of this unit in a workplace setting. Performance must be demonstrated consistently over time and in a suitable range of contexts.
The candidate must provide evidence that they can:
identify resources for a project
investigate options for material supplies, services, contractors and consultants
research prices for required resources
calculate costs for the project
document a summary of project costs.
Evidence of Knowledge
The candidate must demonstrate knowledge of:
relevant State and Federal legislation, awards, enterprise agreements and management policies relating to the project
project costing technology and software
current pricing structures and options for material supplies, services, contractors and consultants.
Assessment Conditions
Competency is to be assessed in the workplace or simulated environment that accurately reflects performance in a real workplace setting.
Assessors must satisfy current standards for RTOs.
Foundation Skills
Foundation Skills essential to performance are explicit in the performance criteria of this unit of competency.
Range Statement
Sectors
Business (BUS)