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Unit of competency details

AHCBUS402 - Cost a project (Release 1)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Supersedes and is equivalent to AHCBUS402A - Cost a projectThis unit is equivalent to AHCBUS402A Cost a project 26/Jun/2016
Is superseded by and equivalent to AHCBUS407 - Cost a projectPerformance criteria clarified. Foundation skills added. Assessment requirements updated. 20/Oct/2019

Releases:
ReleaseRelease date
1 1 (this release) 27/Jun/2016

Companion volumes:
Unit of competency Assessment requirements

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Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080315 Project Management  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080315 Project Management  14/Oct/2016 
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Unit of competency

Modification History

Release

TP Version

Comment

1

AHCv1.0

Initial release

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.

Pre-requisite Unit

Nil.

Unit Sector

Business (BUS)

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

Foundation Skills

Foundation Skills essential to performance are explicit in the performance criteria of this unit of competency.

Range of Conditions

Unit Mapping Information

This unit is equivalent to AHCBUS402A Cost a project.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c6399549-9c62-4a5e-bf1a-524b2322cf72

 

Assessment requirements

Modification History

Release

TP Version

Comment

1

AHCv1.0

Initial release

Performance Evidence

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.

Knowledge Evidence

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.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c6399549-9c62-4a5e-bf1a-524b2322cf72

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