Cost Management (5 ECTS)

Objective

On completion of the course the student will understand how the costs of a building project are formed. The student will know the principles of planning management and methods of cost accounting. The student will be able to produce cost estimates for a site and tenders based on them. The student knows the principles of cost management and control.
On completion of the course the student will:
- know the methods of cost management in the planning phase of a building project
- be able to draw up site cost calculations and tenders based on them
- know the principles of cost control of a building site

Content

1. Cost management in a construction project
2. The principles and methods of cost control in the planning phase of a project
3. The principles of site cost calculation
4. The principles and methods of cost and tender calculation
5. Quantity surveying and pricing
6. Using a building information model in quantity surveying
7. Calculating costs related to equipment and machinery
8. Creating a target cost estimate for a site, a target budget
9. The principles of cost control on a site.

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

The student knows the principles of cost management in different phases of a project and is able to apply them in simple calculations.

Assessment criteria, good (3)

The student knows the principles of cost management well and is able to apply them in ordinary cost calculations.

Assessment criteria, excellent (5)

The student masters the principles of cost management and is able to apply his/her knowledge proficiently in various cost calculations.

Assessment criteria, approved/failed

The student knows the principles of cost management in different phases of a project and is able to apply them in simple calculations.

Qualifications

Basics of Construction Economics