Course Details

Course Information Package

Course Unit TitleCOST PLANNING AND PROJECT COST CONTROL
Course Unit CodeQSE330
Course Unit Details
Number of ECTS credits allocated5
Learning Outcomes of the course unitBy the end of the course, the students should be able to:
  1. Identify and develop customer requirements.
  2. Distinguish the nature of schedule and cost control.
  3. Assess Baseline development.
  4. Develop techniques for compressing schedule and levelling resources.
  5. Schedule planning.
  6. Determine program evaluation and review technique.
  7. Compile cost data with the integrated work breakdown.
  8. Setup subsidiary management plans.
Mode of DeliveryFace-to-face
PrerequisitesNONECo-requisitesNONE
Recommended optional program componentsNONE
Course ContentsIntroduction: Analyse the nature of schedule and cost control, and analyse why we need schedule and cost control. Introduction to the project life cycle.

Customer Requirements and Work Breakdown: Identify and develop customer requirements and introduce the concept of work breakdown structure. Analyse the baseline development.

Scheduling: Analyse the key steps in developing schedules and present the techniques for compressing schedule and levelling resources. Explain the Gantt and milestone charts.

Cost and Estimating: Analyse cost categories and explain the fundamentals of resource planning. Present methods for the determination of the budget and consider the types of estimates. Identify the program evaluation and review techniques and finally explain the method for collecting cost data with the integrated work breakdown.

Planning and implementing the project: Explain the terms of schedule planning, cost estimating, resource planning, risk planning, subsidiary management plans and project plan. Identify the implementation stage of the project and analyse the methods for the monitor and control of the project.

Monitoring and control: Analyse methods of controlling schedule and cost. Introduce the concepts of earned value management and earned value analysis. Introduce methods for estimating the percent complete and project change process. Introduce the ideas of change management process, project change control and change control management. Determination of project completion. Exit strategy process.
Recommended and/or required reading:
Textbooks
  • “Project Scheduling and Cost Control: Planning, Monitoring and Controlling the Baseline”, James Taylor, J. Ross Publishing, 2008.
References
  • “Project Management for Construction”, Chris Hendrickson, Prentice Hall, 1989.
  • “Integrated cost and schedule control in project management”, Ursula Kuehn, Management Concepts, 2006.
  • “Project Estimating and Cost Management”, Parviz Rad, Management Concepts, 2002.
Planned learning activities and teaching methodsThe course will be presented through theoretical lectures in class, where practical problems and case studies will be considered. The lectures will present to the student the course content and allow for questions. Part of the material will be presented using visual aids. The aim is to familiarize the student with the different and faster pace of presentation and also allow the instructor to present related material (photographs, videos, etc.) that would otherwise be very difficult to do. The learning process will be enhanced with the requirement from the student to solve relevant examples. These include self-evaluation exercises which will be solved in class. These exercises will not be graded. Exercises will also be given as homework which will be part of their assessment. Besides from the notes taken by students in class, all of the course material will be made available through the class website and also through MOODLE. Finally the instructor will be available to students during office hours or by appointment in order to provide any necessary tutoring.
Assessment methods and criteria
Midterm tests40%
Assignments10%
Final Exam50%
Language of instructionEnglish
Work placement(s)NO

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