Unit of competency Outline

Date retreived
22/07/2026 12:37 PM AWST

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Monitor costing systems on complex building and construction projects

Monitor costing systems on complex building and construction projects

Unit of competency
National Code
CPCCBC5002
State Code
OCQ41
TGA Status
Current
DTWD Status
Approved
Current Release Number
2.00
Current Release Date
24/12/2024
View on TGA
State Implementation and Classification
Approved Date
01/06/2021
Field of Education
040307 - Building Construction Economics
Original Release Date
01/06/2021
Nominal Hours
60
Description
This unit of competency specifies the skills and knowledge required to monitor costing systems for building and construction projects. It includes processes and practices involved in controlling costs, and the production and maintenance of expenditure schedules and other arrangements, to ensure contracts or projects remain on budget. This unit of competency applies to builders, senior managers in building and construction firms, and other construction industry personnel who work independently and in groups to investigate, evaluate and report project costing.Completion of the general construction induction training program specified by the model Code of Practice for Construction Work is required for any person who is to carry out construction work. Achievement of CPCWHS1001 Prepare towork safely in the construction industry meets this requirement.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1 Identify and classify project costs.
  • 1.1 Access, read and interpret current building codes of practice, standards, legislation and specifications.
  • 1.2 Identify construction costs and produce accurate estimations from project schedules.
  • 1.3 Define cost estimates appropriate to contract requirements and accurately translate into the correct cost centres.
  • 1.4 Identify cost centres and correctly incorporate into a planned project cost network.
  • 1.5 Undertake risk assessment and compare estimated cost with estimated risk.
2 Prepare schedules for project expenditure.
  • 2.1 Identify project critical points and prepare draft schedules of project expenditure.
  • 2.2 Produce hard copies of prepared expenditure schedules in line with organisational processes.
  • 2.3 Identify critical financial phases of the project and match cash flows to expenditure.
3 Create curves for projected cash flow and payments.
  • 3.1 Prepare interim payment claims and rise and fall calculations for contractors and subcontractors.
  • 3.2 Prepare projected S curve to show cash flow and resource control.
  • 3.3 Prepare and compare projected cash flow and payments using time risk and cost risk.
  • 3.4 Compare cash flows using early start and late finish for pessimistic or optimistic outcomes.
  • 3.5 Calculate pessimistic overdraft requirements.
4 Monitor and maintain expenditure.
  • 4.1 Monitor cash flow and creditor payments daily.
  • 4.2 Compare network budget cost to actual costs in the tender calculations.
  • 4.3 Calculate rise and fall expenditure and advise financial controller of variations.
  • 4.4 Identify and analyse reasons for any cost variations.
  • 4.5 Take necessary remedial action and record to retain contract financial compliance.
5 Prepare final cost report.
  • 5.1 Compare actual costs with estimates at the completion of the job and compile a report detailing future actions.
  • 5.2 Adjust organisational rates as required, based on the final cost report and current movements in prices and rates.
No information
No information
Replaces
State Code National Code Title Type
W9289 CPCCBC5002A Monitor costing systems on medium rise building and construction projects Unit of competency