NTISthis.com

Evidence Guide: BSBPMG514 - Manage project cost

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

BSBPMG514 - Manage project cost

What evidence can you provide to prove your understanding of each of the following citeria?

Determine project costs

  1. Determine resource requirements for individual tasks identified in the work breakdown structure, with input from stakeholders and guidance from others
  2. Estimate project costs to enable project budget to be prepared within agreed tolerances
  3. Develop a project budget
  4. Develop a cost-management plan, within delegated authority, to ensure clarity of understanding and ongoing management of project finances
Determine resource requirements for individual tasks identified in the work breakdown structure, with input from stakeholders and guidance from others

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Estimate project costs to enable project budget to be prepared within agreed tolerances

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop a project budget

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop a cost-management plan, within delegated authority, to ensure clarity of understanding and ongoing management of project finances

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor and control project costs

  1. Implement agreed financial-management processes and procedures to monitor actual expenditure against budget
  2. Select and use cost-analysis methods and tools to identify cost variations and evaluate alternative actions
  3. Implement and monitor agreed actions to maintain financial objectives
  4. Provide accurate and timely financial reports
Implement agreed financial-management processes and procedures to monitor actual expenditure against budget

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Select and use cost-analysis methods and tools to identify cost variations and evaluate alternative actions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement and monitor agreed actions to maintain financial objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide accurate and timely financial reports

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete cost-management processes

  1. Conduct appropriate activities to signify financial completion
  2. Review project outcomes using available records to determine effectiveness of project cost management
  3. Review cost-management issues and document improvements
Conduct appropriate activities to signify financial completion

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review project outcomes using available records to determine effectiveness of project cost management

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review cost-management issues and document improvements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Determine project costs

1.1 Determine resource requirements for individual tasks identified in the work breakdown structure, with input from stakeholders and guidance from others

1.2 Estimate project costs to enable project budget to be prepared within agreed tolerances

1.3 Develop a project budget

1.4 Develop a cost-management plan, within delegated authority, to ensure clarity of understanding and ongoing management of project finances

2. Monitor and control project costs

2.1 Implement agreed financial-management processes and procedures to monitor actual expenditure against budget

2.2 Select and use cost-analysis methods and tools to identify cost variations and evaluate alternative actions

2.3 Implement and monitor agreed actions to maintain financial objectives

2.4 Provide accurate and timely financial reports

3. Complete cost-management processes

3.1 Conduct appropriate activities to signify financial completion

3.2 Review project outcomes using available records to determine effectiveness of project cost management

3.3 Review cost-management issues and document improvements

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Determine project costs

1.1 Determine resource requirements for individual tasks identified in the work breakdown structure, with input from stakeholders and guidance from others

1.2 Estimate project costs to enable project budget to be prepared within agreed tolerances

1.3 Develop a project budget

1.4 Develop a cost-management plan, within delegated authority, to ensure clarity of understanding and ongoing management of project finances

2. Monitor and control project costs

2.1 Implement agreed financial-management processes and procedures to monitor actual expenditure against budget

2.2 Select and use cost-analysis methods and tools to identify cost variations and evaluate alternative actions

2.3 Implement and monitor agreed actions to maintain financial objectives

2.4 Provide accurate and timely financial reports

3. Complete cost-management processes

3.1 Conduct appropriate activities to signify financial completion

3.2 Review project outcomes using available records to determine effectiveness of project cost management

3.3 Review cost-management issues and document improvements