10896 (v.3) Cost Management 642

Area:

Department of Construction Management

Credits:

25.0

Contact Hours:

3.0

Laboratory:

1 x 3 Hours Weekly

Syllabus:

The function of cost management within a project environment. Cost planning - financing, feasibility studies, life cycle costing, value management. Cost estimating techniques. Cash flow analyses. Project cost systems. Cost controls - variance analysis, contingency management, change management, reporting.

Unit Outcomes:

On successful completion of this unit, students will have- Been introduced to the principles and processes of cost management. An understanding of terms and concepts used in project cost management. An understanding of project selection methodologies. Anunderstanding of project cost estimating, project cost budgeting and project cost controlling.

Text and references listed above are for your information only and current as of September 30, 2003. Please check with the unit coordinator for up-to-date information.

Unit References:

Cleland, D. and King, W.R. (eds.) (1988), Project Management handbook. New York, Van Nostrand Reinhold. Kimmons, R.L. and Loweree, J.H. (1989), Project Management: A Reference for Professionals. New York, M Dekker. Adam, E. (1993), Value Management. Melbourne, Longman Professional. Fowler, T.C. (1990), Value Analysis in Design. New York, Van Nostrand Reinhold. Bierman, H. and Smidt, S. (1989), The Capital Budgeting Decision. New York, Macmillan Publishing. Brigham, E.F. (1989), Fundamentals of Financial Management. Chicago, The Dryden Press. Flanagan, R. and Norman, G. (1983), Life Cycle Costing for Construction. London, Surveyors Publications. Flanagan, R. and Norman, G., Meadows, J. and Robinson, G. (1989), Life Cycle Costing: Theory and Practice. Oxford, BSP Professionals. American Association of Cost Engineers. (1992), Skills and Knowledge of Cost Engineering. Morgantown, American Association of Cost Engineers. Clarke, F.D. and Lorenzoni, A.B. (1985), Applied Cost Engineering. New York, Marcel Dekker.

Unit Texts:

No prescribed texts.

Unit Assessment Breakdown:

Assignment 1 40%, Assignment 2 40%, Examination 20%. This is by grade/mark assessment.

Year	Location	Period	Internal	Area External	Central External
2004	Bentley Campus	Semester 1		Y
2004	Bentley Campus	Semester 2	Y	Y