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This subject aims to give students the knowledge of the cost planning processes involved in establishing and maintaining a client’s budget within the multiple constraints of time, cost and quality. It provides students with the skills needed to effectively monitor the budget for a building project as design evolves prior to actual construction.
This subject examines the allocation of costs to individual building elements as well as developing student’s appreciation of costs, overheads and allowances that are attributed to the overall project cost.
Topics covered include design economics, building morphology, sources and uses of cost data, the cost planning of engineering services, functional analysis, computerised estimating, cash flow forecasting, and the basics of costing sustainable building design features.
Prescribed software programs with a cost
RiB CostX 6.9
Details of software availability and pricing are captured at https://edsc.unimelb.edu.au/student-experience/it-support
Intended learning outcomes
On completion of this subject, students should be able to:
- Apply cost planning techniques and control measures throughout the building process
- Evaluate the cost efficiency of designs and value for money considerations
- Describe the relationship between building cost, external works and gross project cost
- Use appropriate computer software for cash flow and cost modelling of buildings
- Describe the basic principles of costing for environmental sustainability as applied to buildings
- decision making and analytical skills as applicable to cost management i.e. economic analysis of projects
- effective participation as a team member and communication
- project evaluation, monitoring and cost reporting
- information gathering and critical synthesis skills
- identification and familiarity with building elements
- understanding and application of professional ethics and conduct in practice
Last updated: 16 November 2023