Building Project Management Cost Planning

Victoria University of Wellington

Course Description

  • Course Name

    Building Project Management Cost Planning

  • Host University

    Victoria University of Wellington

  • Location

    Wellington, New Zealand

  • Area of Study

    Architecture, Construction Management

  • Language Level

    Taught In English

  • Course Level Recommendations

    Upper

    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Credit Points

    15
  • Recommended U.S. Semester Credits
    3 - 4
  • Recommended U.S. Quarter Units
    4 - 6
  • Overview

    Description
    Concepts of building cost planning and its theory and application in New Zealand. An overview of the principles of estimation, the standard method of measurement, schedules of quantities, elemental analysis, IT cost estimation and financial analysis.

    This course includes an examination of cost planning and cost management of development projects including budgeting, preliminary estimating, pricing of construction work, elemental cost planning and techniques for managing cost during design development and construction. Standard methods of measurement, schedules of quantities and IT cost estimation will also be covered.

    Topics covered include:
    - Nature and purpose of cost planning and cost control systems;
    - Fundamental principles of cost management (design and construction cost planning and cost control);
    - Contract costing (historical accounting) and anticipatory (forecast final cost / value);
    - Quantity surveying: its role in cost planning processes
    - Design economics, cost and value concepts, cost information systems, cost modelling, cost analyses, cost
    indices, cost data, cost implications of design variables;
    - Risk management in cost planning and cost control.

    The course involves elements of computing, particularly using spreadsheets in the production of cost plan. At the end of the module students will be familiar with manipulating data and presenting information using a spreadsheet.

    The course equips students with the theory and technical skills for cost forecasting at various stages of the design process. Students obtain grounding in the principles of estimation, standard methods of measurement, unit costing, superficial area method, elemental target cost planning and cost checking. The application of techniques in the New Zealand context, interpretation of data and use of results will be addressed together with building morphology and its effect on cost. Students will demonstrate their understanding of the discipline with an investigative assignment and an exam.

    Course Learning Objectives
    Students who pass this course should able to:
    1. demonstrate an understanding of cost planning theory and practice in the New Zealand context.
    2. exercise the basic skills necessary to cost plan a building project at various stages in the pre-tender phase of the construction process.
    3. identify a variety of sources of data for cost forecasting and demonstrate how to manipulate these in the synthesis of an estimate as well as distinguish between cost and price in estimating through an understanding of the variety of influences on projected construction cost.
    4. work effectively in a team in undertaking a complex site survey, then synthesize data autonomously for use in an individual project.
    5. appreciate the commercial skills involved in cost planning including the necessity for being duly diligent and exercising professional judgement when collating information, often incomplete, from a diversity of sources and applying careful interpretation in the production of a realistic cost. (
    6. present (orally, in writing, and graphically/numerically) the results of a cost planning exercise in a clear and unambiguous professional manner.

    Assessment
    The Cost Planning report 50%
    Spot Quizzes 10%
    The Exam 40%

Course Disclaimer

Courses and course hours of instruction are subject to change.

Eligibility for courses may be subject to a placement exam and/or pre-requisites.

Some courses may require additional fees.

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.

Please reference fall and spring course lists as not all courses are taught during both semesters.

Availability of courses is based on enrollment numbers. All students should seek pre-approval for alternate courses in the event of last minute class cancellations

Please note that some courses with locals have recommended prerequisite courses. It is the student's responsibility to consult any recommended prerequisites prior to enrolling in their course.