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17553 Construction Cost Planning and Control

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2019 is available in the Archives.

UTS: Design, Architecture and Building: School of the Built Environment
Credit points: 6 cp

Subject level:

Postgraduate

Result type: Grade and marks

There are course requisites for this subject. See access conditions.

Description

This subject 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. It also considers costs-in-use, occupancy costs, functional costs analysis, and the nature of costs over time and the use of historical cost data for forward planning.

Subject learning objectives (SLOs)

On successful completion of this subject, students should be able to:

1. understand the terminology and processes involved in construction cost planning, budgeting and cost management of construction projects
2. use basic skills in the measurement and broad-based costing of construction activities
3. understand estimating and cost planning procedures throughout the project life cycle
4. understand the use of published construction cost data
5. apply conventional methods for cost comparisons between construction alternatives
6. understand the impact of ESD and sustainability issues on the economics of property development
7. understand the role of construction cost consultants in the development process.

Course intended learning outcomes (CILOs)

This subject also contributes to the following Course Intended Learning Outcomes:

  • Ability to identify and evaluate actual or potential ethical issues and determine sound ethical judgements in property development and / or scholarly contexts (A.1)
  • Ability to interpret and communicate knowledge, skills and ideas to specialist and non-specialist audiences in property development and / or scholarly contexts (C.1)
  • Ability to work effectively in project teams in property development and / or scholarly contexts (C.2)
  • Ability to apply a comprehensive understanding of contemporary theory in the financial management and financing of property developments to professional practice (P.7)
  • Ability to apply appropriate technical analytic skills to a professional standard (P.8)
  • Ability to demonstrate knowledge of research principles and methods applicable to property development and / or related scholarly contexts (R.1)

Teaching and learning strategies

Block mode: total of 38 hours.

Learning experiences in this subject will involve students in reflecting on their industrial experience and the subject content. Student's reflections should be informed by perspectives drawn from the research on theory and practice in cost management in the construction industry, developing budgets and report on cost implication of designs in development projects. Specific learning experiences involve a combination of experience in developing cost models at various stages of a design in the laboratory, online activities, group discussions and individual readings.

Content (topics)

The principal topics covered in this subject are: the nature of construction costs, specialist terminology relevant to cost planning and management, use of published cost data, various types of estimating applied to construction projects, accuracy of estimating techniques, elemental cost planning, cost comparisons, cost management procedures, and principles of life cycle costing.

Assessment

Assessment task 1: Assignment: Prepare a cost plan for a building

Objective(s):

This task addresses the following subject learning objectives:

1, 2, 3, 4 and 7

This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.):

A.1, C.1, P.7 and R.1

Type: Exercises
Groupwork: Individual
Weight: 50%
Criteria:

Assessment criteria will be provided in additional assessment information.

Assessment task 2: Online test

Objective(s):

This task addresses the following subject learning objectives:

1, 2, 3, 4, 6 and 7

This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.):

C.1, P.7 and P.8

Type: Quiz/test
Groupwork: Individual
Weight: 20%
Criteria:

Assessment criteria will be provided in additional assessment information.

Assessment task 3: Tutorial exercises using Cost X or other programs

Objective(s):

This task addresses the following subject learning objectives:

1, 2, 3, 4 and 5

This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.):

A.1, C.2, P.7 and R.1

Type: Exercises
Groupwork: Group, group and individually assessed
Weight: 30%
Criteria:

Assessment criteria will be provided in additional assessment information.

Required texts

1. Smith, J. and Jaggar, D. (2007), Building Cost Planning for the Design Team, 2nd Edition, Butterworth-Heinemann

2. March, C. (2009), Finance and control for construction, Spoon Press

3. Ashworth, A. (2004), Cost studies of buildings, 4th Edition, Pearson Prentice Hall

4. Rawlinsons (2016), Australian Construction Handbook, 34th Edition, Rawhouse

References

1. AIQS (2000-2006), Australian Cost Management Manuals: Volume 1-5, Australian Institute of Quantity Surveyors, Canberra.

2. Uher, T. and Loosemore, M. (2004), Essentials of Construction Project Management, UNSW Press.

3. Ferry, D., Brandon, P. and Ferry, J. (1999), Cost Planning of Buildings, Blackwell.

4. Jaggar, D., Ross, A., Smith, J. and Love, P. (2002), Building Design Cost Management, Blackwell.

5. Smith, J. and Love, P. (2000), Building Cost Planning in Action, Deakin Press.