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Evidence Guide: BSBPMG604 - Direct cost management of a project program

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!

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BSBPMG604 - Direct cost management of a project program

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

Direct project budget development

  1. Direct project managers to determine resource requirements for individual tasks, in consultation with appropriate stakeholders, to develop project budgets which contribute to the program budget
  2. Direct project cost estimations to enable budgets and cost management processes to be developed for project life cycles
  3. Direct and authorise cost strategies and cost management plans to ensure clarity of understanding and ongoing management of project finances and the program budget
Direct project managers to determine resource requirements for individual tasks, in consultation with appropriate stakeholders, to develop project budgets which contribute to the program budget

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Direct project cost estimations to enable budgets and cost management processes to be developed for project life cycles

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Direct and authorise cost strategies and cost management plans to ensure clarity of understanding and ongoing management of project finances and the program budget

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Manage program costs

  1. Develop and maintain cost management systems to direct monitoring of actual expenditure and to control costs throughout multiple project life cycles and for the program
  2. Conduct analysis, evaluate options and implement responses to project cost variations to maintain control over changing financial and program objectives
  3. Monitor internal and external influences on program costs and, where necessary, seek approval from business management for changes to the approved program budget
Develop and maintain cost management systems to direct monitoring of actual expenditure and to control costs throughout multiple project life cycles and for the program

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Conduct analysis, evaluate options and implement responses to project cost variations to maintain control over changing financial and program objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor internal and external influences on program costs and, where necessary, seek approval from business management for changes to the approved program budget

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Direct financial completion

  1. Provide direction for project finalisation activities to achieve integrated financial and physical project completion within program expectations
  2. Review project outcomes from available records at the finalisation of each project, and analyse information to determine effectiveness of cost management systems
  3. File program lessons learnt as a resource for future reference and, where necessary, refer to higher project authority for application in planning strategic direction changes and business outcomes for future projects
Provide direction for project finalisation activities to achieve integrated financial and physical project completion within program expectations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review project outcomes from available records at the finalisation of each project, and analyse information to determine effectiveness of cost management systems

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

File program lessons learnt as a resource for future reference and, where necessary, refer to higher project authority for application in planning strategic direction changes and business outcomes for 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. Direct project budget development

1.1 Direct project managers to determine resource requirements for individual tasks, in consultation with appropriate stakeholders, to develop project budgets which contribute to the program budget

1.2 Direct project cost estimations to enable budgets and cost management processes to be developed for project life cycles

1.3 Direct and authorise cost strategies and cost management plans to ensure clarity of understanding and ongoing management of project finances and the program budget

2. Manage program costs

2.1 Develop and maintain cost management systems to direct monitoring of actual expenditure and to control costs throughout multiple project life cycles and for the program

2.2 Conduct analysis, evaluate options and implement responses to project cost variations to maintain control over changing financial and program objectives

2.3 Monitor internal and external influences on program costs and, where necessary, seek approval from business management for changes to the approved program budget

3. Direct financial completion

3.1 Provide direction for project finalisation activities to achieve integrated financial and physical project completion within program expectations

3.2 Review project outcomes from available records at the finalisation of each project, and analyse information to determine effectiveness of cost management systems

3.3 File program lessons learnt as a resource for future reference and, where necessary, refer to higher project authority for application in planning strategic direction changes and business outcomes for 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. Direct project budget development

1.1 Direct project managers to determine resource requirements for individual tasks, in consultation with appropriate stakeholders, to develop project budgets which contribute to the program budget

1.2 Direct project cost estimations to enable budgets and cost management processes to be developed for project life cycles

1.3 Direct and authorise cost strategies and cost management plans to ensure clarity of understanding and ongoing management of project finances and the program budget

2. Manage program costs

2.1 Develop and maintain cost management systems to direct monitoring of actual expenditure and to control costs throughout multiple project life cycles and for the program

2.2 Conduct analysis, evaluate options and implement responses to project cost variations to maintain control over changing financial and program objectives

2.3 Monitor internal and external influences on program costs and, where necessary, seek approval from business management for changes to the approved program budget

3. Direct financial completion

3.1 Provide direction for project finalisation activities to achieve integrated financial and physical project completion within program expectations

3.2 Review project outcomes from available records at the finalisation of each project, and analyse information to determine effectiveness of cost management systems

3.3 File program lessons learnt as a resource for future reference and, where necessary, refer to higher project authority for application in planning strategic direction changes and business outcomes for future projects