CONMGNT 7047 - Cost Planning and Management

North Terrace Campus - Semester 1 - 2024

This course is designed to explore the management of cost elements in building and civil engineering projects. All projects require planning and managing cost throughout the various project stages. These cost planning and management exercises are crucial to achieve the project success. This course will examine strategies designed to achieve optimum financial performance at both the project level and the business level.

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Course Details

Course Code	CONMGNT 7047
Course	Cost Planning and Management
Coordinating Unit	Construction Management
Term	Semester 1
Level	Postgraduate Coursework
Location/s	North Terrace Campus
Units	3
Contact	Up to 3 hours per week
Available for Study Abroad and Exchange	Y
Assessment	Class quiz, discussion paper and building tender assignment

Course Staff

Course Coordinator: Navodana Rodrigo

Course Timetable

The full timetable of all activities for this course can be accessed from Course Planner.

Course Learning Outcomes

On successful completion of this course students will be able to:

1. Discuss various factors that affect building costs and estimating
2. Prepare preliminary estimates and elemental cost plans
3. Prepare detailed building estimates for tender submissions
4. Analyse financial performance at the business and the project levels (e.g. cash flow and profitability)
5. Develop corrective and preventive cost planning measures to evaluate financial performance
6. Manage document control, information management and reporting systems

University Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

University Graduate Attribute	Course Learning Outcome(s)
Attribute 1: Deep discipline knowledge and intellectual breadth Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.	1,2,3,4,5,6
Attribute 2: Creative and critical thinking, and problem solving Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.	1,2,3,4,5,6
Attribute 3: Teamwork and communication skills Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.	2,3,4,5
Attribute 4: Professionalism and leadership readiness Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.	2,3,4,5,6
Attribute 5: Intercultural and ethical competency Graduates are responsible and effective global citizens whose personal values and practices are consistent with their roles as responsible members of society.	2,3,4,5
Attribute 7: Digital capabilities Graduates are well prepared for living, learning and working in a digital society.	2,3,4,5,6
Attribute 8: Self-awareness and emotional intelligence Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.	1,2,3,4,5,6

Learning Resources

Recommended Resources

Please refer to MyUni for details of recommended readings and websites

Following book will be referred to throughout the course:
• Australian Cost Management Manual – Volume 1 (2023) published by Australian Institute of Quantity Surveyors

Following journals are suggested reading for this subject:
• Journal of Cleaner Production
• Journal of Construction Engineering and Management
• Journal of Management in Engineering
• Building and Environment
• International Journal of Project Management
• Energy and Buildings
• Applied Energy
• Project Management Journal
• Construction Management and Economics
• Facilities
• Journal of Green Building
• Energy Policy

Other locations for resources will be distributed during lectures.

Online Learning

University Email:
The school uses the University email system to get in touch with the students. So it is imperative that you check your email regularly and keep up to date with any new announcements.

MyUni:
MyUni is an essential online tool which will be used to communicate information regarding the course including details of assignments and interim grades. There are many other learning resources and assessment pieces that rely on the MyUni system for delivery. Therefore it is recommended that you familiarise yourself with the various functions of MyUni and employ it to its fullest extent. https://myuni.adelaide.edu.au

Discussion Board:
The MyUni Discussion Board can be used to interact with other students and tutors and is an essential tool to discuss information and increase your understanding of issues.

Lecture Recording:
In certain cases the recording of the lectures is made available in electronic format for students to listen through on their own time and make notes, and is provided through the MyUni system. However, this service is only available for lectures with essential course content and may not include guest lectures. Furthermore, where the presentation content is subject to copyright or the guest speaker is uncomfortable with the recording of the content, the lecture recording will not be made available online. So students should not rely solely on this mode of learning and arrange to attend or get lecture content from peers.
Learning & Teaching Activities

Learning & Teaching Modes

The learning and teaching strategy is an active learning one, using a range of problems, application and case studies. The contents of this course will be delivered in forms of lectures and tutorials. Principles of cost planning and management will be covered in 1-hour lecture on a weekly basis. This will be followed by 2-hour tutorial which is designed to allow students to practice those principles introduced during the lecture sessions. Case studies will enrich student’s understanding of managing cost issues in building and civil engineering projects. Tutorials are designed to facilitate students’ communication skills such as documenting cost related information and reporting to various stakeholders.

The approach to assessment is one of integration with teaching and “assessment for learning” rather than of learning. Students will receive feedback progressively throughout the semester. Deadlines for assessment will be strictly enforced which will provide an overall framework for the semester of study.

Workload

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

The University expects full-time students (ie. those taking 12 units per semester) to devote at least 48 hours per week to their studies. Accordingly, students undertaking this 3 unit course are expected to devote 12 hours per week to contact activities and self-guided studies.

Based on this framework here are some figures that might assist workload management:

For a 3 unit course:
Total workload hours: 12 Hrs per week x 13 weeks = 156 Hrs
Total contact hours: 3 Hrs per week x 12 weeks = 36 Hrs
Total self-guided study: 156 Hrs – 36 Hrs = 120 Hrs

These 120 hours should be used towards preparation of weekly tasks and for completion of the various assignments associated with the course, including development of various skills required to complete the same. Please organise your time wisely.

This is a 3 unit course. Recommended study commitments are meant to be hours of full time study, not just sitting thinking about the subject! The communication skills developed by regularly and actively participating in discussions are considered to be most important by the School and are highly regarded by employers and professional bodies.

Learning Activities Summary

Essential information on cost planning and management concepts and approaches, definitions of activities, management strategies, analysis techniques and contemporary issues will be dealt with by structured lecture and tutorial sessions. Tutorial sessions are featured with problem based/case study exercises. The approach is progressive, building upon fundamental concepts and knowledge acquisition with increasingly complex problem based exercises.

In lecture sessions, principles of cost planning and management in building and civil engineering projects will be discussed. Students will be encouraged to relate these principles to the real life projects through reading academic papers and resources from the professional bodies such as Royal Institution of Chartered Surveyors, The Chartered Institute of Building, and The Australian Institute of Quantity Surveyors. In tutorial sessions, students will work in groups to use their skills and knowledge to tackle these cost planning and management related issues such as estimating, cashflow forecasting, value management, etc.

Specific Course Requirements

Students are expected to attend/listen to the weekly lecture prior to attending the weekly tutorial session as the knowledge delivered through the lecture would assist in completing the activities done during tutorials.

The University's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

Assessments are divided into following types:

Essay
Quiz
Report (Group and Individual)

A more detailed breakdown of the assessments have been provided below in 'Assessment Detail'.

Assessment Related Requirements

To pass this course, you must receive a mark of at least 50% for the overall course.

Assessment Detail

Assessment Task	Task Type	Weighting	Due	Learning Outcomes
Essay	Summative	25%	Week 4	1,2
Class Quiz	Summative	25%	Week 7	1,2,3
Report 1 (Group)	Summative	20%	Week 9	5
Report 2 (Individual)	Summative	30%	Week 12	4,5,6
Total		100%

Submission

Submission format
All submissions for this course will be electronically through MyUni.

All submissions must include Student Name and Student ID Number. Submissions without Student Name or ID Number will not be considered for marking, and will receive zero marks in accordance with the guidelines.

In addition, all assessments need to have an Assessment Cover Sheet which must be signed and dated by the student before submission. Please attach the cover sheet in front of the document.

Students must not submit work for an assessment that has previously been submitted for this course or any other course without prior approval from the Course Coordinator.

Deadlines
It is essential to meet the deadlines of this course. Note that NO LATE submissions will be accepted.

Extension requests
If you need to request an extension for any of the assessments, you will need to provide justification based on grounds of either medical, compassionate or extenuating circumstances and you need to provide documentary evidence (e.g. form signed by Medical Practitioner - the type of evidence required is indicated on the form) to support your case in line with the Modified Arrangement for Coursework Assessment (MACA) Policy.

The completed ’Application for Assessment Extension Form’, should be submitted electronically before the assessment deadline. Subsequently, the Course Cordinator will review the details and inform the outcome to the student.

Academic Integrity Policy
The Academic Integrity Policy applies to all students, and students are advised to be familiar with the policy. Software (e.g. TurnItIn) may be used to verify the originality of submissions.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through Access Adelaide.

Student Feedback

The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
Student Support
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator