Cost Planning and Control

Unit code: NBC4003 | Study level: Undergraduate
Credit points
12
(Generally, 1 credit = 10 hours of classes and independent study.)
Location
Footscray Park
Online Real Time
Prerequisites
NBC2006 - Professional Estimating
(Or equivalent to be determined by unit coordinator)
Overview
Enquire

Overview

This unit explores the principles of design economics and the critical role of cost planning throughout the design development of buildings. Students will learn about various cost planning techniques, stages of design development, and methods for adjusting historical building prices to enhance cost control accuracy. Additionally, the unit will cover life cycle costing, including the application of discounting in comparative analyses, highlighting its significance in evaluating environmental sustainability.

Learning Outcomes

On successful completion of this unit, students will be able to:

  1. Critically evaluate the processes and procedures of cost planning in building design and construction, and assess various cost planning techniques in relation to cost control systems;
  2. Interpret the principles of design economics to forecast building prices and use historical data to develop cost plans in the early stages of building design;
  3. Develop cost planning strategies during the design briefing, outline proposal, sketch design, and tender documentation stages to create detailed elemental cost plans;
  4. Analyse life cycle cost studies, including the fundamentals of life cycle costing (LCC), LCC methodologies, and the use of discounting in LCC calculations; and
  5. Devise comprehensive life cycle cost evaluations of various design options, presenting these assessments to clients and stakeholders effectively.

Assessment

For Melbourne campuses

Assessment type: Report
|
Grade: 30%
A detailed report with explanation of the principles of building cost planning and design economic factors (Individual)
Assessment type: Case Study
|
Grade: 40%
Analysis of case study with two building design schemes and preparing cost plans during early design stages (Group)
Assessment type: Presentation
|
Grade: 10%
Team Presentation on cost plan during early design stages (Group)
Assessment type: Test
|
Grade: 20%
Test on cost planning techniques, preliminary cost plan and life cycle costing (Individual)

The team case study and presentation include an evaluation of the contributions made by each member of the team to facilitate the assessment of students’ achievement of learning outcomes.

Required reading

Required reading materials will be available in VU Collaborate.

As part of a course

This unit is studied as part of the following course(s):

Bachelor of Construction Management (Honours)
NHCM | Bachelor honours degree | Duration: 4 years

Refer to the course page for information on how to apply for the course. VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.

Search for units, majors & minors