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. |
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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. |
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1.3 |
Define cost estimates appropriate to contract requirements and accurately translate into the correct cost centres. |
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1.4 |
Identify cost centres and correctly incorporate into a planned project cost network. |
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1.5 |
Undertake risk assessment and compare estimated cost with estimated risk. |
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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. |
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2.3 |
Identify critical financial phases of the project and match cash flows to expenditure. |
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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. |
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3.3 |
Prepare and compare projected cash flow and payments using time risk and cost risk. |
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3.4 |
Compare cash flows using early start and late finish for pessimistic or optimistic outcomes. |
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3.5 |
Calculate pessimistic overdraft requirements. |
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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. |
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4.3 |
Calculate rise and fall expenditure and advise financial controller of variations. |
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4.4 |
Identify and analyse reasons for any cost variations. |
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4.5 |
Take necessary remedial action and record to retain contract financial compliance. |
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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