Project costing and financial management are among the most thought-provoking and critical facets of the project management process. Under tighter budgets and increasingly competitive work environments, stakeholders need to build value for all money spent. The ability to determine and assess funding options and schemes is vital to effective project management.
In this course, you will consolidate and expand your knowledge of project costing and deepen your understanding of its relevance to the broader project development process. You will acquire the theoretical knowledge and project management skills necessary to distinguish and compare alternative financing schemes for project performance, while analysing and appraising the economic status of projects and corporations. Furthermore, you will broaden your understanding of project financial management principles, theory and practice as applicable to contemporary industry practices.
Dr Eric Too, Senior Lecturer - School of Property, Construction and Project Management
- Determine and apply knowledge of complex project management theory, principles and best practice to applied projects to contribute to the profession and discipline of project management;
- Critically analyse, synthesise and reflect on project management theory and recent developments—both local and international—to extend and challenge knowledge and practice;
- Professionally communicate and justify project scope, design, implementation, strategy and/or outcomes, engaging effectively with diverse stakeholders across a range of industry sectors; and
- Apply the specialist knowledge and technical skills required to creatively address the diverse needs of project stakeholders, formulating innovative solutions and demonstrating independent and sound decision making related to your professional practice and the discipline.
Upon successful completion of this course, you will be able to:
- Apply specialised knowledge of traditional and contemporary costing methods and systems to diverse projects;
- Utilise specialised economic evaluation techniques to determine and project feasibility;
- Analyse, synthesise and communicate the financial context of projects and compare alternative funding schemes for project performance;
- Critically analyse economic parameters to determine financial status within diverse organisations; and
- Research and justify why and how contemporary financial management strategies are preferable according to the project context.
Assessment for this course will occur at various times across the seven-week teaching period. In most cases, assessment should follow a similar structure to the below:
- A short assessment may occur in the first couple of weeks, driven mostly by peer-assessment or objective feedback as is the case of a survey quiz or contribution to discussion.
- Assessments that occur mid-study period (approximately week 2 to 5) will have a highly formative purpose, like an extended case study or a scenario role play. These are intended to provide an indication of performance and occur at this time to enable positive changes to future performance.
- Final assessments are usually summative, and generally draw the course's threshold concepts together. Your previous assessments will have directly prepared you for a summative-style assessment.
Rich, online feedback will be provided to you throughout the teaching period on practical exercises and by individual consultation, ideally within five business days.
Please note, unit structure and content are subject to change. Contact your RMIT Student Enrolment Advisor on 1300 701 171 for more information based on your particular circumstances.