Unit of competency Outline
Date retreived
22/07/2026 5:01 AM AWST
22/07/2026 5:01 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Cost a project
Cost a project
Unit of competency
National Code
AHCBUS407
AHCBUS407
State Code
OBK34
OBK34
TGA Status
Current
Current
DTWD Status
Approved
Approved
State Implementation and Classification
Approved Date
28/01/2020
Field of Education
080315 - Project Management
Original Release Date
28/01/2020
Nominal Hours
40
Description
This unit of competency describes the skills and knowledge required to cost a project, including establishing and documenting costs for materials, resources, services, consultants and contractors. This unit applies to supervisors and managers who establish and oversee projects to the best financial advantage of the enterprise. In this role, individuals take responsibility for their own work and provide and communicate solutions to a range of predictable and sometimes unpredictable problems.All work must be carried out to comply with organisational requirements, work health and safety legislation and codes, sustainability practices and in consultation with the management team.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Determine resources required for the project
- 1.1 Identify and interpret project objectives, required work activities and available finance in line with enterprise guidelines and legislative requirements
- 1.2 Identify resources required for project works
- 1.3 Identify factors affecting resource costs using available information
- 1.4 Select and use appropriate tools, equipment and technology for the calculation and documentation of project costs
2. Calculate individual itemised costs of the project
- 2.1 Calculate unit and total cost for each resource item
- 2.2 Evaluate total itemised resource costs against the financial schedule for the project and assess value for money
- 2.3 Make adjustments where required to reconcile resource costs with project schedules
- 2.4 Identify and determine costs for peripheral works arising from the project
3. Prepare a summary of the cost of the project
- 3.1 Collate and schedule resource costs
- 3.2 Calculate and record total project costs
- 3.3 Document summary of costs and submit financial summary for approval
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| BAS37 | AHCBUS402 | Cost a project | Unit of competency |