NTISthis.com

Evidence Guide: BSBPMG412 - Apply project cost management techniques

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

BSBPMG412 - Apply project cost management techniques

What evidence can you provide to prove your understanding of each of the following citeria?

Assist in developing project budget

  1. Implement cost-estimating methods against duration/effort and resource requirements
  2. Determine estimated costs for tasks and activities and confirm degree of accuracy with relevant stakeholders
  3. Communicate cost estimates, where required, to others to contribute to project budget and cash flow management
  4. Contribute to developing cost management strategies and processes, and providing financial authorisation within delegated authority
Implement cost-estimating methods against duration/effort and resource requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine estimated costs for tasks and activities and confirm degree of accuracy with relevant stakeholders

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Communicate cost estimates, where required, to others to contribute to project budget and cash flow management

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Contribute to developing cost management strategies and processes, and providing financial authorisation within delegated authority

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor project costs

  1. Monitor income and expenditure against project budget baseline at predetermined intervals
  2. Identify and report variations in budget using established project cost methods, techniques and tools
  3. Implement action and report progress to ensure cost objectives remain achievable throughout project life cycle
Monitor income and expenditure against project budget baseline at predetermined intervals

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and report variations in budget using established project cost methods, techniques and tools

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement action and report progress to ensure cost objectives remain achievable throughout project life cycle

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Contribute to cost-finalisation process

  1. Assist in finalisation and transfer of financial assets, liabilities and records to relevant parties
  2. Assist in review of project outcomes through use of project cost records to determine effectiveness of cost management processes
  3. Document cost management lessons learned for application in future projects
Assist in finalisation and transfer of financial assets, liabilities and records to relevant parties

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assist in review of project outcomes through use of project cost records to determine effectiveness of cost management processes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document cost management lessons learned for application in future projects

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Assist in developing project budget

1.1 Implement cost-estimating methods against duration/effort and resource requirements

1.2 Determine estimated costs for tasks and activities and confirm degree of accuracy with relevant stakeholders

1.3 Communicate cost estimates, where required, to others to contribute to project budget and cash flow management

1.4 Contribute to developing cost management strategies and processes, and providing financial authorisation within delegated authority

2. Monitor project costs

2.1 Monitor income and expenditure against project budget baseline at predetermined intervals

2.2 Identify and report variations in budget using established project cost methods, techniques and tools

2.3 Implement action and report progress to ensure cost objectives remain achievable throughout project life cycle

3. Contribute to cost-finalisation process

3.1 Assist in finalisation and transfer of financial assets, liabilities and records to relevant parties

3.2 Assist in review of project outcomes through use of project cost records to determine effectiveness of cost-management processes

3.3 Document cost-management lessons learned for application in future projects

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Assist in developing project budget

1.1 Implement cost-estimating methods against duration/effort and resource requirements

1.2 Determine estimated costs for tasks and activities and confirm degree of accuracy with relevant stakeholders

1.3 Communicate cost estimates, where required, to others to contribute to project budget and cash flow management

1.4 Contribute to developing cost management strategies and processes, and providing financial authorisation within delegated authority

2. Monitor project costs

2.1 Monitor income and expenditure against project budget baseline at predetermined intervals

2.2 Identify and report variations in budget using established project cost methods, techniques and tools

2.3 Implement action and report progress to ensure cost objectives remain achievable throughout project life cycle

3. Contribute to cost-finalisation process

3.1 Assist in finalisation and transfer of financial assets, liabilities and records to relevant parties

3.2 Assist in review of project outcomes through use of project cost records to determine effectiveness of cost-management processes

3.3 Document cost-management lessons learned for application in future projects

Evidence of the ability to:

produce a project budget

closely monitor project expenditure

finalise project costs and make recommendations for possible improvements to future projects.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

explain budgeting processes and their relationship to project life cycle

explain how to apply cost management tools and techniques.