BSBPMG514 Manage Project Cost Online Delivery Delivery and Assessment Guide Northern Sydney Institute School of Business and Finance St Leonards Campus Delivery and Assessment Guide Table of Contents Facilitator and Head Teacher Contact Details ..................................................................................... 3 Unit of Competency: BSBPMG514 Manage Project Cost .................................................................... 3 Elements....................................................................................................................................... 3 Resources ............................................................................................................................................. 4 Assessment .......................................................................................................................................... 4 Assessment Task 1: Individual Assignment.................................................................................. 4 Assessment Task 2: Knowledge Test............................................................................................ 7 Assessment Task 3: Forum postings ............................................................................................ 8 Additional Assessment Information ............................................. 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Appendix A – Assessment Task 1 - Workbook for Manage Project Cost ........................................... 11 Element 1: Determine project costs .......................................................................................... 11 Element 2: Monitor and control project costs........................................................................... 11 Element 3: Complete cost-management processes .................................................................. 12 Document1 Page 2 of 12 Revision Date: 17/07/2015 Delivery and Assessment Guide Facilitator and Head Teacher Contact Details Facilitator Name: Alison Roberts Email Address: [email protected] Other contact details: 9942 0234 Facilitator Name: Sue Stubbs Email Address: [email protected] Head Teacher Name: Deborah Evans, Business Services Email Address: [email protected] Other contact details: 9942 0095 Unit of Competency: BSBPMG514 Manage Project Cost Elements Element Performance Criteria 1. Determine project costs 1.1 Determine resource requirements for individual tasks identified in the work breakdown structure, with input from stakeholders and guidance from others 1.2 Estimate project costs to enable project budget to be prepared within agreed tolerances 1.3 Develop a project budget 1.4 Develop a cost-management plan, within delegated authority, to ensure clarity of understanding and ongoing management of project finances 2. Monitor and control project costs 2.1 Implement agreed financial-management processes and procedures to monitor actual expenditure against budget 2.2 Select and use cost-analysis methods and tools to identify cost variations and evaluate alternative actions 2.3 Implement and monitor agreed actions to maintain financial objectives 2.4 Provide accurate and timely financial reports 3. Complete costmanagement processes 3.1 Conduct appropriate activities to signify financial completion 3.2 Review project outcomes using available records to determine the effectiveness of project cost management 3.3 Review cost-management issues and document improvements The complete unit of competency is available on the Training.Gov.Au website. Document1 Page 3 of 12 Revision Date: 17/07/2015 Delivery and Assessment Guide Resources The following resources are required for this unit: Resource Additional Information A Guide to the Project Management Body of Knowledge 5th Edition A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Newtown Square PA, Project Management Institute, 2013, 5th edition ISBN13: 978-1-935589-67-9 Optional: Project Management in Practice Project Management in Practice by Pearson, Larson and Gray, McGraw-Hill, 2013, ISBN13: 9781743077238 studEspace (Learning Management System) Manage Project Cost Site at: http://nsfsakai.nthsydney.tafensw.edu.au/library/skin/nsi/home.html Assessment Task Overview Due Date Weighting Unit of Competency Elements 1. Individual Assignment Refer to your timetable Satisfactory/ Not Satisfactory BSBPMG514 Manage Project Cost 2. Knowledge Test – 12 Refer to your short answer questions timetable Satisfactory/ Not Satisfactory BSBPMG514 Manage Project Cost 3. Forum postings Satisfactory/ Not Satisfactory BSBPMG514 Manage Project Cost Refer to your timetable Assessment Task 1: Individual Assignment Student Instructions Project Choice Your selected project must be agreed between you and your facilitator so that its methodology, tools and techniques conform to the performance requirements of each Unit of Competency before you start work on the unit. Document1 Page 4 of 12 Revision Date: 17/07/2015 Delivery and Assessment Guide You may use the same project for all units in this Course, unless your selected project changes during the Course or cannot conform to the performance requirements of any of the Units of Competency. If either or both of these events occur during your course, you must contact your facilitator to find out what you need to do to continue to satisfy the Course performance requirements and achieve competency. The project must be within an organisation, business or you are operating as a consultant. Your selected project must have: a comprehensive, detailed and integrated project management plan a formal communications plan a dedicated and project-based budget formal and planned engagement with a wide range of stakeholders a documented risk, issues and change-management methodology a quality plan with assurance and control processes a project team-based environment. Workbook You have two options to satisfy the performance requirements for Assessment Task 1. Option 1: Use the Workbook provided in Appendix A to answer the questions. All your answers to the questions must be applied to your project, unless otherwise stated. Your answers must demonstrate that you can or have applied what you have learnt to your project, regardless of whether you have undertaken all the performance requirements in your workplace. Theory answers without reference to your experience will not be assessed as satisfactory. Your answers for all questions must be satisfactory to achieve competency. Option 2: You can submit workplace documents as evidence instead of using all or parts of the Workbook. If you use this option: You must be the author of documents. Your documents must be less than four years old. You are required to map your workplace documents to the Assessment criteria on a mapping document which will be provided on request by your facilitator. Submission of both workplace documents to satisfy the assessment criteria and the completed mapping document are required to achieve a satisfactory result. Both your workplace evidence documents and all your answers for the questions you have answered in the workbook must be satisfactory to achieve competency. Submission Note: It is important for project management to show you can meet deadlines. Document1 Page 5 of 12 Revision Date: 17/07/2015 Delivery and Assessment Guide Assignments will be submitted by uploading documents to the Assignments area in studEspace – electronic copies are required for audit purposes. More than three attachments for a submission will not be accepted. Accepted file types are: MS Word, MS Excel, MS PowerPoint, MS Project, MS Publisher and PDF. Versions accepted are 2003 onwards. Feedback and Resubmission You will receive your feedback within two weeks - you will be notified by email by your facilitator when results are available. You will need to visit this Assignments area in studEspace and down load your feedback. Where students answers are deemed not satisfactory after the first attempt a resubmission may be requested. If a student has demonstrated consistent effort in the learning of a module then, at the teacher’s professional discretion, the student may be awarded a resubmission. This resubmission must be made as soon after the initial assessment as possible. Environmental Sustainability: You may wish to consider including environmental sustainability principles in cost management by costing the environmental impacts of the project and including these in the project budget. Environmental sustainability could include: Avoid or reducing the use of a resource including water, electricity, transport etc. Reuse and recycling of a resource Buying green Reduction in packaging and other waste. Criteria for competency Document1 Page 6 of 12 Revision Date: 17/07/2015 Delivery and Assessment Guide To achieve competency in this unit, you must demonstrate knowledge, skills and experience to: determine resource requirements for individual tasks identified in the work breakdown structure, with input from stakeholders and guidance from others estimate project costs to enable project budget to be prepared within agreed tolerances develop a project budget develop a cost-management plan, within delegated authority, to ensure clarity of understanding and ongoing management of project finances implement agreed financial-management processes and processes and procedures to monitor actual expenditure against budget select and use cost-analysis methods and tools to identify cost variations and evaluate alternative actions implement and monitor agreed actions to maintain financial objectives provide accurate and timely financial reports conduct appropriate activities to signify financial completion review project outcomes using available records to determine the effectiveness of project cost information review cost-management issues and document improvements. Assessor Instructions Assessment Task 1 requires the student to submit evidence in a work-based project to demonstrate that student has the knowledge, skills and experience to manage project costs. The assessor: checks that each student’s proposed project satisfies the course requirements for the project choice according to the criteria listed in the Project Choice section above advises each student that their project satisfies the course requirements according to the student’s course timetable assesses each student’s work to ensure that their work satisfies the performance criteria for competency listed above in Assessment Task 1 completes each student’s assessment within 2 weeks of submission provides feedback as required about the student’s work overall and/or individual task elements in writing requests each student to resubmit their work or components of their work to satisfy the performance criteria for competency as soon as possible after each assessment notifies each student that they are Satisfactory/ Not Satisfactory in writing record each student’s results in EBS. Assessment Task 2: Knowledge Test Student Instructions The Knowledge Test is comprised of 12 short answer questions and is administered by studEspace in the Tests and Tasks area of the Manage Project Cost Site. The questions are drawn from the Project Management Body of Knowledge (PMBoK) and from the Learning Program. For your result to be satisfactory for the Knowledge Test you must receive 16/20. Document1 Page 7 of 12 Revision Date: 17/07/2015 Delivery and Assessment Guide All knowledge tests are untimed and are conducted as an open book revision exercise. It should be undertaken as an individual assessment with no student interaction or teacher interaction. Once the time limit is exceeded, the Test will save and submit your answers – you need to be careful to complete the Test in the time given. It is strongly recommended, as these answers can be lengthy, that you type your answers into Word and then paste these into the Test. If you leave studEspace half way through a test it will time out or the connection could be lost and you will lose your work. This is a common problem mentioned by students. Feedback and Resubmission: You will receive your feedback within two weeks - you will be notified by your facilitator when results are available. You will need to go back into the Test to view any comments and a breakdown of marks received per question. Where students answers are deemed not satisfactory after the first attempt a resubmission may be requested. If a student has demonstrated consistent effort in the learning of a module then, at the teacher’s professional discretion, the student may be awarded a resubmission. This resubmission must be made as soon after the initial assessment as possible. Assessor Instructions Assessment Task 2 requires the student to answer questions about project cost and submit their answers on the studEspace Manage Project Cost site. Answers must demonstrate the student’s application of their cost management knowledge to their project management skills and experience. The assessor: assesses each student’s answers in accordance with the performance criteria for competency listed in Assessment task 1 should not accept theoretical answers or answers copied directly from texts without acknowledgement of the text assess each student’s answers and provide feedback within 2 weeks of submission notifies each student that they are Satisfactory/ Not Satisfactory in writing record each student’s results in EBS. Assessment Task 3: Forum postings Student Instructions The purpose of the Forum is to stimulate discussion, and sharing of information/ideas about project tools and techniques, its challenges and best practice by students and the teacher. Participation in the forum is mandatory to achieve competency in this unit particularly in relation to your project selected for Assessment Task 1. You participate in a Forum in the Forums area of the Site in studEspace. Your postings are listed in studEspace. Performance criteria to achieve competency in Assessment Task 3 Document1 Page 8 of 12 Revision Date: 17/07/2015 Delivery and Assessment Guide To achieve competency in Assessment Task 3: you must open and read a minimum of one (1) other posting about the topic you must post comments and queries about one (1) other postings about the topic you post your answers to specific Forum questions and queries, replies or comments about the topic in accordance with the Unit’s overall performance criteria to achieve competency respond to all postings by your facilitator your postings must be at least three sentences long your postings cannot be limited to a question only. You must include a background and explanation as to why to you are asking a question or query you must explain why you agree or disagree with another person’s posting reflect the type of posting example listed at the beginning of the Forum. Assessment and Feedback: Any forum postings will be assessed within two weeks and student notified by email. Assessor Instructions Assessment Task 3 requires both assessors and students to participate by posting a response to each question raised in the studEspace Forum. The purpose of the Forum is to enable students to challenge their knowledge and skills and to provide an opportunity for continuous improvement. The assessor: should respond to each forum posting using a range of question/comment types including a request for clarification, explanation or reliability of assumptions, examples of a student’s reasoning process, alternative viewpoints, possible consequences of poster’s reasoning process assess each student’s postings in terms of satisfying the elements and performance criteria for each unit of competency notifies each student that they are Satisfactory/ Not Satisfactory in writing record each student’s results in EBS. Additional Assessment Information Finding out results Other than from your teacher, unit results may also be accessed using your log-on to the Learner Portal. You should have received information about the Learner Portal when you enrolled. Dispute of Mark/grade If you do not agree with the result given for your assessment, you may appeal the assessment decision. You should first discuss the assessment result with your teacher. If you are not satisfied with the outcome of that discussion you can access the appeal process through the staff in the campus administration office. Reasonable Adjustment If you have a permanent or temporary condition that may prevent you successfully completing the assessment task(s) you should immediately talk with your teacher about ‘reasonable adjustment’. This is the adjustment of the way you are assessed to take into account your condition and may include providing a support person or extra time. The assessment criteria cannot be altered. Recognition All TAFE students are eligible to apply for credit for previous formal, informal and Document1 Page 9 of 12 Revision Date: 17/07/2015 Delivery and Assessment Guide of Prior Learning (RPL) Policy on Late Assessment Policy on Plagiarism non-formal learning. Refer to the Training and Education Support website for information about Credit pathways (Articulation, Credit transfer and Recognition of Prior Learning (RPL). There is also a brochure widely available throughout the campus on RPL. Each case of student absence from an assessment event, or late submission of an assessment event, will be considered by the teacher on an individual basis. Students should endeavour to notify their teacher in advance where an absence will prevent them from attending, or submitting, a planned assessment event (e.g. class test, presentation, project, report, portfolio or assignment). Unexpected absence and/or late submission due to illness, work commitments and/or other unforeseen misadventure MUST be supported by documented evidence (e.g. medical certificate, statements from employers etc.). If you fail to adequately notify and/or explain your absence/late submission penalties may apply: 1. If the assessment event is more than 7 days late the result is a Fail/Not Competent for this event. 2. No penalty will apply if the student has an acceptable reason and negotiates a new date with the teacher before the original due date, or if it is not possible, at the first attendance after the event or within 7 days (whichever is the sooner). The negotiated or revised date will become the due date and Penalties 1 (see above) will apply if the assessment event is not submitted by the revised due date. If extension is not accepted the original due date applies and the penalties will be as outlined. 3. If the student does not attend a class test, presentation or other classroom-based assessment event on a negotiated date Penalty 1 may apply. May apply. 4. Failure in one particular assessment event may not necessarily mean a Fail in the unit. Is there a penalty for late submission of assessment tasks? What is the procedure if a student is absent on the day of an assessment event? For information about assessment in TAFE please see "Every Student's Guide to Assessment in TAFE NSW" which was offered at enrolment and is available on the TAFE internet site at: https://www.tafensw.edu.au/courses/expectations/assets/pdf/assessment _guide.pdf Definition: Plagiarism involves using the work of another person and presenting it as your own. A STUDENT WILL BE GUILTY OF PLAGIARISM if they do any of the following in an assignment, or in any piece of work which is to be assessed, without clearly acknowledging their source(s) for each quotation or piece of borrowed material: a) copying out part (s) of any document or audio-visual material, including computer–based material; b) using or extracting another person’s concepts, experimental results, or conclusions; c) summarising another person’s work; d) in an assignment where there was collaborative preparatory work, submitting substantially the same final version of any material as another student. Document1 Page 10 of 12 Revision Date: 17/07/2015 Delivery and Assessment Guide Appendix A – Assessment Task 1 - Workbook for Manage Project Cost Element 1: Determine project costs 1. Provide a project budget for the entire project scope/work breakdown structure. This budget must be in enough detail to show costs for: Resources: equipment, facilities, fees and charges, human resources, materials, services and statutory costs Contingencies and tolerances Overheads/ indirect costs Profit (if applicable) What were your budgetary assumptions? <<<< INSERT BUDGET AND ASSUMPTIONS >>>>> 2. Provide a cost management plan for your project, which includes: Units of measure Level of precision Level of accuracy Organisation cost management procedures to be followed including roles and responsibilities Control thresholds Rules of performance measurement Reporting formats Process descriptions (these could include any two of the following and must be step by step including who is involved and when as well as a description of how this will help you monitor actual vs. budgeted expenditure). o Approval processes o Financial authorisations and delegated authority o Communication and reporting processes o Invoice procedures Organisational chart of account links (if applicable) <<<< INSERT ANSWER HERE >>>>> Element 2: Monitor and control project costs 1. Use two cost-analysis methods and tools to demonstrate the cost variations that occurred in your project. <<<< INSERT ANSWER HERE >>>>> 2. Provide a detailed budget performance report showing variances against baseline budget. <<<< INSERT ANSWER HERE >>>>> Document1 Page 11 of 12 Revision Date: 17/07/2015 Delivery and Assessment Guide 3. Provide evidence of replanning to bring project back to original budget including the reason replanning is needed and the options available to bring the project back on budget as well as the option selected. <<<< INSERT ANSWER HERE >>>>> Element 3: Complete cost-management processes 1. Describe in detail a financial completion activity you would need to undertake at the end of the project. <<<< INSERT ANSWER HERE >>>>> 2. Review your project performance in terms of cost management. Would your cost management processes and procedures be considered effective? Why/why not? <<<< INSERT ANSWER HERE >>>> 3. List all cost issues you may have experienced on the project (in the table below) including a recommendation for future projects. Date Description of problem/opportunity Recommended Action for next time/project Lesson Learnt Raised By Document1 Page 12 of 12 Revision Date: 17/07/2015
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