Unit of competency Outline

Date retreived
22/07/2026 9:27 PM AWST

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Apply project cost management techniques

Apply project cost management techniques

Unit of competency
National Code
BSBPMG412
State Code
AUK33
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
2.00
Current Release Date
14/01/2016
View on TGA
State Implementation and Classification
Approved Date
15/09/2015
Field of Education
080315 - Project Management
Original Release Date
15/09/2015
Nominal Hours
40
Description
This unit describes the skills and knowledge required to assist in producing a project budget, to monitor project expenditure and contribute to cost finalisation processes.It applies to individuals who are project practitioners working in a project support role. No licensing, legislative, regulatory or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
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
No information
No information
Replaces
State Code National Code Title Type
WG091 BSBPMG412A Apply project cost-management techniques Unit of competency
Replaced By
State Code National Code Title Type
OCE93 BSBPMG423 Apply project cost management techniques Unit of competency