Unit of competency Outline

Date retreived
23/07/2026 5:02 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.

Direct cost management of a project program

Direct cost management of a project program

Unit of competency
National Code
BSBPMG604
State Code
AUH32
TGA Status
Replaced
DTWD Status
Transition (Replaced)
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
15/09/2015
Field of Education
080315 - Project Management
Original Release Date
15/09/2015
Nominal Hours
50
Description
This unit describes the skills and knowledge required to analyse, coordinate, and refine budgets of multiple projects contributing to an overall program budget. It covers directing project budget development, managing program costs and directing financial completion of projects.It applies to individuals who are program managers, managing a suite of projects (a program).No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Direct project budget development
  • 1.1 Direct project managers to determine resource requirements for individual tasks, in consultation with appropriate stakeholders, to develop project budgets which contribute to the program budget
  • 1.2 Direct project cost estimations to enable budgets and cost management processes to be developed for project life cycles
  • 1.3 Direct and authorise cost strategies and cost management plans to ensure clarity of understanding and ongoing management of project finances and the program budget
2. Manage program costs
  • 2.1 Develop and maintain cost management systems to direct monitoring of actual expenditure and to control costs throughout multiple project life cycles and for the program
  • 2.2 Conduct analysis, evaluate options and implement responses to project cost variations to maintain control over changing financial and program objectives
  • 2.3 Monitor internal and external influences on program costs and, where necessary, seek approval from business management for changes to the approved program budget
3. Direct financial completion
  • 3.1 Provide direction for project finalisation activities to achieve integrated financial and physical project completion within program expectations
  • 3.2 Review project outcomes from available records at the finalisation of each project, and analyse information to determine effectiveness of cost management systems
  • 3.3 File program lessons learnt as a resource for future reference and, where necessary, refer to higher project authority for application in planning strategic direction changes and business outcomes for future projects
No information
No information
Replaces
State Code National Code Title Type
D0942 BSBPMG604A Direct cost management of a project program Unit of competency
Replaced By
State Code National Code Title Type
OCE79 BSBPMG533 Manage project cost Unit of competency