Reference no: EM131445958

Monitor costing systems on medium rise building and construction projects

Business Project

1. Supervise the preparation of costing data by your team members/delegate and convert costs to a cost centre and attach these costings and the planned project cost network to this assessment

2. Upload a copy of your business' processes and procedures or minimum standards for producing financial data. Your assessor will check that your work for this project is consistent with your business' requirements.

3. Conduct a risk analysis on this project and attach notes from the analysis to this assessment (this may include brainstorming notes, team communications such as minutes or memos and calculations)

Manage preparation of the Project Expenditure Schedule

4. Create a draft schedule of project expenditure and attach to this assessment. Identify any key/critical points.

5. Develop a final expenditure schedule using technology in your office (spreadsheet, document, using project software) and attach a hard copy to this assessment and identify any critical financial phases.
Apply projection techniques to the project

6. Calculate the projected rise and fall amounts relevant to this project (if this project is valued at less than $500,000 please calculate as a hypothetical figure).

7. Prepare a projected S Curve for this project

8. Identify the following for this project: Time and cost risk

9. Identify the following for this project: The optimistic and pessimistic outcomes for cash flow

10. Calculate your pessimistic overdraft requirements

Monitor and evaluate expenditure

11. What trends have you identified when conducting daily monitoring of cash flow and creditor payments?

12. Detail the comparison from budget to actual costs from tender calculations, this may be through attaching and describing a tracking spreadsheet, outlining in dot point form what patterns and variations you have identified etc.

13. What variations have you identified and what process have you followed when variations have been noted?

14. What remedial actions were required in order to maintain financial compliance with the contract? How have you recorded these?

15. Prepare and attach a final cost report detailing:
- Actual vs estimated costs
- How effective the estimating process was in this case
- Steps taken to improve efficiency and match contract performance requirements
- Recommendations for future actions
- Recommendations for adjusting business rates

16. Optional: Additional Evidence Upload, you may use this area to upload up to 10 additional files as required