702-216 Introduction to Cost Management

Formerly available as 702-216 Cost Management 2 and 702-216 Introduction to Construction Cost Management. Students who have completed 702-216 are not eligible to enrol in this subject.

702-115 Introduction to Property

The subject is aimed at providing an overview of measurement and pricing including elementary measurement for bills of quantity, building up rates, pricing of measured work, tendering and bidding procedures.

On completion of the subject students should be able to:

• Understand the relationship between various parties involved in the building procurement process.

• Know how to apply role Australian Standard Method of Measurement to simple buildings.

• Understand the role of cost managementof building works.

• Price measured building work items.

• Understand the theory and practice of competitive tendering.

On completion of the subject students should have developed the following skills and capabilities:

• Understanding of construction documentation used in residential construction.

• Understanding of the roles and responsibilities of quantity surveyors in the construction industry.

• Application of cost management to simple buildings.

• Effective participation as a team memeber.

Assignments equivalent to 2000 words (30%); one three-hour examination (70%). Students are required to reach a mark of at least 40% in the exam in order to achieve a pass in the subject.

• Australian Institute of Quantitiy Surveyors & MB-CHAA, (1990), Australian Standard Method of Measurement of Building Works. 5th edition, The Australian Institute of Quantity Surveyors..