General Information
This subject provides students with an ability to estimate building projects. The students will be able to undertake simple building estimates and will also be able to conduct cost planning assignments. The students will also be introduced to providing a cost plan for feasibility studies and to the concepts of value engineering and management. Students will use a range of techniques and case studies.
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Details
Academic unit: Faculty of Society & Design Subject code: SSUD13-312 Subject title: Early Estimating and Cost Planning Subject level: Undergraduate Semester/Year: January 2018 Credit points: 10.000 -
Delivery & attendance
Timetable: https://bond.edu.au/timetable Delivery mode: Standard Workload items: - Seminar: x12 (Total hours: 36) - Seminar 1
Attendance and learning activities: -
Resources
Prescribed resources: Books
- Australian Institute of Quantity Surveyors (AIQS) (2000). Australian Cost Management Manual, Volume 1: Cost Planning and Cost Analysis.. n/a, Canberra AIQS
- Royal Institution of Chartered Surveyors (RICS) (2013). NRM1: Order of Cost Estimating and Cost Planning for Capital Building Works.. n/a, Coventry, UK RICS
Others
- Smith, Jaggar, Love and Oluwole (2016). Building Cost Planning for the Design Team. Abingdon, UK Roultledge
iLearn@Bond & Email: iLearn@Bond is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student. To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au
| Academic unit: | Faculty of Society & Design |
|---|---|
| Subject code: | SSUD13-312 |
| Subject title: | Early Estimating and Cost Planning |
| Subject level: | Undergraduate |
| Semester/Year: | January 2018 |
| Credit points: | 10.000 |
| Timetable: | https://bond.edu.au/timetable |
|---|---|
| Delivery mode: | Standard |
| Workload items: |
|
| Attendance and learning activities: |
| Prescribed resources: | Books
Others
|
|---|---|
| iLearn@Bond & Email: | iLearn@Bond is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student. To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au |
Enrolment requirements
| Requisites: |
Nil |
|---|---|
| Assumed knowledge: |
Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge.
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| Restrictions: |
Nil |
Assurance of learning
Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.
At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.
Program Learning Outcomes (PLOs)
Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.
Subject Learning Outcomes (SLOs)
On successful completion of this subject the learner will be able to:
- Apply standard cost planning techniques during the design process and in early stage feasibility studies.
- Understand the process of construction cost forecasting in theory and practice.
- Integrate cost plans into a developer’s feasibility study to test and assess the viability of the project.
- Recognise the importance of whole life costing, value management and sustainability in the design economics of building.
Generative Artificial Intelligence in Assessment
The University acknowledges that Generative Artificial Intelligence (Gen-AI) tools are an important facet of contemporary life. Their use in assessment is considered in line with students’ development of the skills and knowledge which demonstrate learning outcomes and underpin study and career success. Instructions on the use of Gen-AI are given for each assessment task; it is your responsibility to adhere to these instructions.
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Assessment details
Type Task % Timing* Outcomes assessed Paper-based Examination (Closed) n/a 50.00% Final Examination Period 1,2,3,4 Technical Document Assignment 1- Prepare a cost plan on a nominated building project. 25.00% Week 7 1,2 Technical Document Assignment 2 - Prepare a feasibility study for a nominated project. 25.00% Week 11 3,4 - * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
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Assessment criteria
Assessment criteria
High Distinction 85-100 Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking. Distinction 75-84 Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas. Credit 65-74 Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above. Pass 50-64 Usually awarded to students whose performance meets the requirements set for work provided for assessment. Fail 0-49 Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines. Quality assurance
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
| Type | Task | % | Timing* | Outcomes assessed |
|---|---|---|---|---|
| Paper-based Examination (Closed) | n/a | 50.00% | Final Examination Period | 1,2,3,4 |
| Technical Document | Assignment 1- Prepare a cost plan on a nominated building project. | 25.00% | Week 7 | 1,2 |
| Technical Document | Assignment 2 - Prepare a feasibility study for a nominated project. | 25.00% | Week 11 | 3,4 |
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
Assessment criteria
| High Distinction | 85-100 | Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking. |
|---|---|---|
| Distinction | 75-84 | Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas. |
| Credit | 65-74 | Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above. |
| Pass | 50-64 | Usually awarded to students whose performance meets the requirements set for work provided for assessment. |
| Fail | 0-49 | Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines. |
Quality assurance
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Study Information
Submission procedures
Students must check the iLearn@Bond subject site for detailed assessment information and submission procedures.
Policy on late submission and extensions
A late penalty will be applied to all overdue assessment tasks unless an extension is granted by the subject coordinator. The standard penalty will be 10% of marks awarded to that assessment per day late with no assessment to be accepted seven days after the due date. Where a student is granted an extension, the penalty of 10% per day late starts from the new due date.
Academic Integrity
University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.
Bond University utilises Originality Reporting software to inform academic integrity.Feedback on assessment
Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.
Accessibility and Inclusion Support
If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.
Additional subject information
Subject curriculum
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Week 1
Introduction to subject, content and assessment. Construction Industry Characteristics.
SLOs included
- Apply standard cost planning techniques during the design process and in early stage feasibility studies.
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Week 2
Design economics & Sustainability.
SLOs included
- Recognise the importance of whole life costing, value management and sustainability in the design economics of building.
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Week 3
Principles and Purpose of Cost Planning and Cost Control. Sources of cost information. Techniques of Estimating during the Design Stages.
SLOs included
- Apply standard cost planning techniques during the design process and in early stage feasibility studies.
- Understand the process of construction cost forecasting in theory and practice.
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Week 4
Cost Planning in Action: Briefing and Outline Proposals Stage; Detail design stage and Tender Document Stage.
SLOs included
- Apply standard cost planning techniques during the design process and in early stage feasibility studies.
- Understand the process of construction cost forecasting in theory and practice.
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Week 5
Cost Modelling.
SLOs included
- Apply standard cost planning techniques during the design process and in early stage feasibility studies.
- Understand the process of construction cost forecasting in theory and practice.
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Week 6
Accuracy and Integration of Cost Planning Techniques.
SLOs included
- Apply standard cost planning techniques during the design process and in early stage feasibility studies.
- Understand the process of construction cost forecasting in theory and practice.
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Week 7
The use of cost plans in development appraisal. Feasibility Studies.
SLOs included
- Understand the process of construction cost forecasting in theory and practice.
- Integrate cost plans into a developer’s feasibility study to test and assess the viability of the project.
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Week 8
Feasibility Studies.
SLOs included
- Integrate cost plans into a developer’s feasibility study to test and assess the viability of the project.
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Week 9
Life Cycle Costing.
SLOs included
- Recognise the importance of whole life costing, value management and sustainability in the design economics of building.
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Week 10
Life cycle costing.
SLOs included
- Recognise the importance of whole life costing, value management and sustainability in the design economics of building.
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Week 11
Life cycle Costing, value management and Sustainability.
SLOs included
- Recognise the importance of whole life costing, value management and sustainability in the design economics of building.
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Week 12
Issues in Construction economics, cost planning, life cycle costing and sustainability.
SLOs included
- Recognise the importance of whole life costing, value management and sustainability in the design economics of building.
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Week 13
Review, revision and study week.
SLOs included
- Apply standard cost planning techniques during the design process and in early stage feasibility studies.
- Understand the process of construction cost forecasting in theory and practice.
- Integrate cost plans into a developer’s feasibility study to test and assess the viability of the project.
- Recognise the importance of whole life costing, value management and sustainability in the design economics of building.