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Unit of competency details

CPCCBC5002 - Monitor costing systems on complex building and construction projects (Release 1)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to CPCCBC5002A - Monitor costing systems on medium rise building and construction projectsSupersedes and is equivalent to CPCCBC5002A Monitor costing systems on medium rise building and construction projects. 26/Nov/2020

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 27/Nov/2020


Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 040307 Building Construction Economics  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 040307 Building Construction Economics  27/Nov/2020 
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Unit Of competency

Modification History

Release 1

This version first released with CPC Construction, Plumbing and Services Training Package Release 5.0.

Supersedes and is equivalent to CPCCBC5002A Monitor costing systems on medium rise building and construction projects. Change to title. Updated to meet the Standards for Training Packages 2012.

Application

This unit of competency specifies the skills and knowledge required to monitor costing systems for building and construction projects. It includes processes and practices involved in controlling costs, and the production and maintenance of expenditure schedules and other arrangements, to ensure contracts or projects remain on budget.

This unit of competency applies to builders, senior managers in building and construction firms, and other construction industry personnel who work independently and in groups to investigate, evaluate and report project costing.

Completion of the general construction induction training program specified by the model Code of Practice for Construction Work is required for any person who is to carry out construction work. Achievement of CPCCWHS1001 Prepare to work safely in the construction industry meets this requirement.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Pre-requisite Unit

Nil.

Unit Sector

Building and Construction

Elements and Performance Criteria

Elements describe the essential outcomes.

Performance criteria describe what needs to be done to demonstrate achievement of the element.

1

Identify and classify project costs.

1.1

Access, read and interpret current building codes of practice, standards, legislation and specifications.

1.2

Identify construction costs and produce accurate estimations from project schedules.

1.3

Define cost estimates appropriate to contract requirements and accurately translate into the correct cost centres.

1.4

Identify cost centres and correctly incorporate into a planned project cost network.

1.5

Undertake risk assessment and compare estimated cost with estimated risk.

2

Prepare schedules for project expenditure.

2.1

Identify project critical points and prepare draft schedules of project expenditure.

2.2

Produce hard copies of prepared expenditure schedules in line with organisational processes.

2.3

Identify critical financial phases of the project and match cash flows to expenditure.

3

Create curves for projected cash flow and payments.

3.1

Prepare interim payment claims and rise and fall calculations for contractors and subcontractors.

3.2

Prepare projected S curve to show cash flow and resource control.

3.3

Prepare and compare projected cash flow and payments using time risk and cost risk.

3.4

Compare cash flows using early start and late finish for pessimistic or optimistic outcomes.

3.5

Calculate pessimistic overdraft requirements.

4

Monitor and maintain expenditure.

4.1

Monitor cash flow and creditor payments daily.

4.2

Compare network budget cost to actual costs in the tender calculations.

4.3

Calculate rise and fall expenditure and advise financial controller of variations.

4.4

Identify and analyse reasons for any cost variations.

4.5

Take necessary remedial action and record to retain contract financial compliance.

5

Prepare final cost report.

5.1

Compare actual costs with estimates at the completion of the job and compile a report detailing future actions.

5.2

Adjust organisational rates as required, based on the final cost report and current movements in prices and rates.

Foundation Skills

As well as the foundation skills explicit in the performance criteria of this unit, candidates require:

  • numeracy skills to:
  • use and apply graphical techniques to analyse and compile costing information
  • research and investigate statistical and numerical data to measure performance against cost estimations
  • technology skills to:
  • use a range communication tools and devices to communicate and collaborate effectively with others
  • use specialised programs to access, extract and share information in effective ways.

Unit Mapping Information

Supersedes and is equivalent to CPCCBC5002A Monitor costing systems on medium rise building and construction projects.

Links

Companion volumes to this training package are available at the VETNet website - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=7e15fa6a-68b8-4097-b099-030a5569b1ad

 

Assessment requirements

Modification History

Release 1

This version first released with CPC Construction, Plumbing and Services Training Package Release 5.0.

Supersedes and is equivalent to CPCCBC5002A Monitor costing systems on medium rise building and construction projects. Change to title. Updated to meet the Standards for Training Packages 2012.

Performance Evidence

To demonstrate competency, a candidate must meet the elements and performance criteria of this unit by monitoring the costing systems for a Class 2 to 9 Type A building and construction project.

In doing this, the candidate must:

  • produce schedules of expenditure from comparing the extent of actual costs to estimated cost
  • produce accurate and timely financial reporting in the format required by the organisation
  • plan and continuously revise the schedules of payments and cash flows to match contract performance and efficiency.

Knowledge Evidence

To be competent in this unit, a candidate must demonstrate knowledge of:

  • advanced estimating and costing systems used in the building and construction industry
  • relevant government standards, codes of practice, legislation and licensing requirement for medium-rise construction projects
  • building and construction costs:
  • building or construction materials
  • temporary on-site services and permanent utilities
  • human resources and specialist services labour
  • plant and equipment purchase, lease and operating
  • pre-cast and off-site prefabricated materials
  • consumables
  • project finance cost centre
  • financial principles:
  • evaluating and eliminating or reducing risk
  • progress payments to maintain cash flow
  • expenditure evaluation and overhead costs
  • project cost reporting:
  • cost-benefit analyses of overtime payments
  • detailed summaries of actual costs against estimates
  • details of cost over-runs and savings on labour and contracting out
  • details of savings or under-expenditure on materials or supplies
  • equipment performance information and efficiencies
  • variations in rates occurring through rise and fall clauses and effects
  • wages, salaries and penalties
  • insurances, including workers' compensation premiums
  • project processes and timelines.

Assessment Conditions

Assessors must meet the requirements for assessors contained in the Standards for Registered Training Organisations.

Assessment can be undertaken in the workplace or in a simulated workplace environment.

A simulated environment is one that realistically replicates workplace conditions, materials and equipment, interactions with others and workplace irregularities, and which meets industry standards for safety and environmental practices.

Candidates must have access to:

  • relevant and current project plans, specifications, codes, standards and regulations
  • organisational policies, procedures and other quality documentation to undertake the performance criteria and assessment requirements
  • organisational systems for cash flow and payments
  • technology and applications to access, extract, integrate and compile information to facilitate monitoring costing systems on a construction project.

Links

Companion volumes to this training package are available at the VETNet website - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=7e15fa6a-68b8-4097-b099-030a5569b1ad