Reference no: EM13343633

Part -1:

Purpose:

The purpose of this assessment task is to evaluate your ability to analyse and identify the reasons for any cost variations, and to communicate these variations to stakeholders.

instructions:

A variation is required for an additional complete external quality door to the project. Given the assessment responses you have produced above along with the 5 pack estimate and rate break up summaries, produce the following:

(a) a Variation breakup calculation

(b) a Variation submission in a standard Master Builders format for submission to a client

Part -2:

Purpose:

The purpose of this assessment task is to evaluate your ability to prepare interim payment claims and rise and fall calculations for the contractor and subcontractors in accordance with relevant codes of practice, standards and legislative requirements.

Instructions:

Given the assessment responses you have produced above along with the 5 pack estimate and rate break up summaries, produce the following in accordance with "The Old Building and Construction Industry Payments Act 2004" or similar Act in your State/territory:

1 a) indicate the time related processes required to produce a monthly progress claim

1 b) produce a typical monthly progress claim including the following:

(i) value of work done
(ii) value of work done on variations

2a) Research and record your findings (in less than 100 words) on how a rise and fall cost adjustment is made and under what circumstances. Give an example of a rise and fall calculation.

2b) describe how this would be financially reported in your company.

Part -3:

Purpose:

The purpose of this assessment task is to evaluate your ability to identify and classify project costs. Instructions:

Given the estimate summary and details in Appendix 2 for a $ pack block of units in both trade-based and cost category format, produce the following:

(a) a breakdown in cost centre format of the budget

(b) a cost based risk assessment of the tender budget, including where the risk allocation would be made.

Part -4:

Purpose:

The purpose of this assessment task is to evaluate your ability to prepare schedules of project expenditure, and curves showing projected cash flow and payments.

Instructions:

Given the assessment response you have produced above along with the 5 pack estimate and rate break up summaries, produce the following:

(0) a bar chart or network diagram for the project

(b) a time related baseline cash flow summary in tabular form for the project, showing critical milestones

(c) a baseline actual cost cash flow summary

(d) calculation of the projected monthly progress claim values

(e) from the above, produce a projected cash flow 'S' curve for the project

(f) modified cosh flows for early start and late finish risk scenarios

(g) modified cash flows for alternative cost based risk scenarios

(h) comparison of the above risk and time related cash flows and note differences

(i) comparison of the projected baseline income cash flow with the baseline actual cost cash flow

(j) a report on the purpose of monitoring expenditure schedules and their effectiveness

(k) pessimistic overdraft requirements

(I) the typical reasons why a cash flow can change, the procedure for revising the cash flow

Part -5:

Purpose:

The purpose of this assessment task is to evaluate your ability to maintain continuous checks on expenditure and evaluate outcomes.
Instructions:

Give an example of how cash flow and creditor payments are monitored on a daily basis.

Part -6:

Purpose:

The purpose of this assessment task is to evaluate your ability to prepare and analyse final cost reports.

Instructions:

Given the assessment responses you have produced above along with the 5 pack estimate and rate break up summaries, produce the following:

(a) a forecast final cost management report comparing budgets with final expenditure

(b) a report on the effectiveness of comparing actual with budgeted costs

(c) a procedure for monitoring and supervising staff responsible for producing costing data and financial reports

(d) o report on budget vs. final cost detailing reasons for variance for both budget cost overruns and surplus for future management action and how effective this is.

(e) a report on what remedial action can be taken during a project to ensure financial compliance

(f) a report on what remedial action would be required on completion of an unfavourable financial report with respect to standard company rates and pricing structures