CPCCBC5002 Monitor Costing System on Complex Building and Construction Projects - Assessment Task 1: Knowledge Questions

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Assessment Task 1 - Knowledge Assessment

Preliminary TaskQuestions 6 and 9 of this Knowledge Assessment require you to refer to the building and construction requirements and legislation of your state/territory.For your assessor’s reference, indicate below which state/territory you are currently based or located in by ticking the box that corresponds to your answer.

When answering Questions 6 and, you must refer to the building and construction requirements and legislation of the state/territory you ticked below.

      1.            Identify three examples of software that can be used in estimating and costing building and construction projects.
      2.            Explain how the use of estimating and costing systems benefits the project.
      3.            Listed below are two methods in performing the take-off in estimating and costing systems. Explain how each method is done.
Method Explanation
i.         Manual take-off
ii.       Digital take-off
      4.            Provide one example of Australian Standard relevant to each category listed below. Ensure that your responses refer to current standards.
Category Australian Standard
i.         Electrical wiring
ii.       Concrete products
iii.     Fire tests
      5.            Explain how Australian Standards apply to estimation and costing in building and construction projects.
      6.            Provide three examples of WHS codes of practice from your state/territory that are relevant to building and construction. Include links to these codes of practice for your assessor’s reference.Codes of practice you provide must be from the state/territory you specified in the Preliminary Task of this Knowledge Assessment.
Codes of Practice Link
i.
ii.
iii.
      7.            Explain how WHS codes of practice apply to estimation and costing in building and construction projects.
      8.            For each piece of legislation listed below, provide one example of how it applies to the estimation and costing of building and construction projects.
Legislation Application
i.         Fair Work Act 2009
ii.       WHS Act
iii.     National Construction Code (NCC)
      9.            Consider a medium rise construction project that will employ the following people:·         Subcontractor - Gas fitting·         Subcontractor – Electrical

·         Subcontractor – Plumbing

·         Site supervisors

·         Managers

Identify the licensing requirements that apply to these workers. Refer to your state/territory’s licensing requirements.

Personnel Licence Required
i.           Subcontractor – gas fitting
ii.         Subcontractor – electrical
iii.       Subcontractor – plumbing
iv.       Site supervisors
v.         Managers
  10.            What is a project finance cost centre? Provide two examples of functions that are considered cost centres.
i.         What is a project finance cost centre?
ii.       Identify two examples of functions that are considered cost centres.

a.

b.

  11.            Listed below are different principles in financial risk management. Explain how each principle applies in evaluating and eliminating or reducing financial risks.
Principles in financial risk management
Principle How this principle is applied in evaluating risks
i.      Organisational financial risk management is affected by various factors, including political, social, legal, and technological factors.
ii.    Organisational financial risk management must involve relevant stakeholders.
Principle How this principle is applied in eliminating or reducing risks
i.      Organisational financial risk management must always align with organisational objectives.
ii.    A continual improvement approach to financial risk management must be adopted by the organisation.
  12.            Answer the following questions about progress payments.Explain the principle of implementing progress payments to maintain cash flow in building and construction projects.
i.         What are progress payments?
ii.       How are progress payments calculated?
iii.       Identify two principles followed in progress payments.

a.

b.

iv.       How do progress payments ensure the maintenance of cashflow?
  13.            Answer the following questions about principles underlying expenditure evaluation in building and construction projects.
i.         The Bill of Quantities is a tendering document that itemises the materials, parts, and labour costs for expenditure evaluation.List the four monetary provisions that must be included in a Bill of Quantities.
ii.       In defining and evaluating a cost estimate as a predicted value, the prediction is based on certain key factors existing at the time of the estimate. Identify four of these factors.
iii.     Cost engineers use the projected design, procurement, and construction S curves to draw the projected cashflow curve. Like most S curves, it is subject to some slippage to the right caused by schedule delays, late deliveries, and so on. How often must a cashflow projection be undertaken to minimise cost risks?
iv.     List three activities that must be conducted when developing a bar chart for project expenditures for expenditure evaluation.
  14.            Answer the following questions about principles underlying overhead costs in building and construction projects.
i.         Explain what overheads are.
ii.       How are overheads incorporated into the net estimated cost?
iii.   Provide five examples of overheads that must be incorporated into the net estimated cost of the job.
iv.   How is the percentage of overheads established?
v.     Calculate the overhead markup percentage for the following:Note that 20xx refers to the previous year.

Turnover for Jan 20xx $1,920,000.00
Overhead for Jan 20xx $146 ,000.00
Overheads markup percentage
  15.            Listed below are four general processes followed in building and construction, which impact project estimation and costs. Explain what happens in each process.
Process Explanation
i.           Planning
ii.         Preconstruction
iii.        Construction
iv.        Close-out
  16.            Explain what building and construction project timelines are used for.
  17.            Identify five examples of factors that impact building and construction project timelines.

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