17108 Construction Costing and Estimating
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Credit points: 6 cp
Result type: Grade and marks
Requisite(s): 17131 Construction Technology and Regulation
Description
This subject examines construction cost estimating and cost planning and the procedures used by building contractors, sub-contractors and consultants when completing this work. The approach includes a mixture of theory and application, to examine techniques used by contractors when estimating the construction cost of a given design as well the techniques used by cost planners when estimating anticipated construction costs through the building design process.
The subject provides an overview of relevant industry terminology, the tendering process, progress payments, preliminaries, overheads, preparing order lists, life cycle costing, cost control and the use of historical cost data for forward planning. Additionally, the subject investigates property depreciation and the important points to consider to ensure all eligible allowances are claimed.
On completion students should know the difference between cost estimating and cost planning, be able to complete a basic cost estimate and cost plan and be in a position to critically review an estimator or cost planner’s work.
Subject learning objectives (SLOs)
On successful completion of this subject, students should be able to:
| 1. | Apply estimating terminology and process. |
|---|---|
| 2. | Apply cost planning terminology and process. |
| 3. | Estimate and control construction costs. |
| 4. | Understand the complexities of property depreciation. |
| 5. | Understand the basic skills of a construction cost team so you can critically review their work. |
Course intended learning outcomes (CILOs)
This subject also contributes to the following Course Intended Learning Outcomes:
- Effectively apply a variety of communication skills and technologies in professional contexts (C.1)
- Work effectively in project teams in property development (C.2)
- Synthesise knowledge related to a wide spectrum of property and asset management issues to the analysis of practiced based property portfolio scenarios (P.6)
- Apply a comprehensive understanding of contemporary theory in the financial management and financing of property developments to professional practice (P.7)
Contribution to the development of graduate attributes
The term CAPRI is used for the five Design, Architecture and Building faculty graduate attribute categories where:
C = communication and groupwork
A = attitudes and values
P = practical and professional
R = research and critique
I = innovation and creativity
Course intended learning outcomes (CILOs) are linked to these categories using codes (e.g. C-1, A-3, P-4, etc.).
Teaching and learning strategies
Online learning activities will continuously reinforce the learning content for students throughout each week. The emphasis is on "learning by doing," and undertaking practical tasks and discussion forums on the various topics within this subject. Zoom sessions will provide hands on guidance through the major assignments.
Content (topics)
- Introduction to Costs Estimating and Cost Planning
- Cost Estimating, Pricing Work and Order Lists
- Cost Planning throught the Building Design Process
- Property Depreciation and other Quantity Surveying Services
Assessment
Assessment task 1: Quiz 1 and 2
| Intent: | Assessment Task 1 comprises of two online quizzes: Quiz 1 The intent of the assessment is to assess your understanding of Estimating Terminology, Processes, and the Construction Team Quiz 2 The intent of the assessment is to assess your understanding of Cost Planning Terminology, Processes, and Property Depreciation | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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.): C.1, C.2, P.6 and P.7 | ||||||||||||||||||||||||
| Type: | Quiz/test | ||||||||||||||||||||||||
| Groupwork: | Individual | ||||||||||||||||||||||||
| Weight: | 30% | ||||||||||||||||||||||||
| Criteria linkages: |
SLOs: subject learning objectives CILOs: course intended learning outcomes |
Assessment task 2: Practical Estimating Exercise and Associated Tasks
| Intent: | The intent of this assessment is to understand how to estimate and control construction costs and working with the construction team. | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Objective(s): | This task addresses the following subject learning objectives: 1, 3 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.): C.1, C.2 and P.6 | ||||||||||||||||
| Type: | Project | ||||||||||||||||
| Groupwork: | Individual | ||||||||||||||||
| Weight: | 35% | ||||||||||||||||
| Criteria linkages: |
SLOs: subject learning objectives CILOs: course intended learning outcomes |
Assessment task 3: Practical Cost Planning Exercise and Associated Tasks
| Intent: | The intent of this assessment is to understand cost planning and construction costs, and working with the construction team. | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Objective(s): | This task addresses the following subject learning objectives: 2, 3 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.): C.2, P.6 and P.7 | ||||||||||||||||
| Type: | Project | ||||||||||||||||
| Groupwork: | Individual | ||||||||||||||||
| Weight: | 35% | ||||||||||||||||
| Criteria linkages: |
SLOs: subject learning objectives CILOs: course intended learning outcomes |
Minimum requirements
Students must achieve at least 50% of the subject’s total mark.