CONS6002 – Financial Administration
Module code
CONS6002
Module title
Financial Administration
Prescription
The aim of this course is to develop the knowledge and skills to analyse and conduct a valuation and prepare account statements for work carried out on a construction site.
Programmes
- NZ2420
NZQA Level
Level 6
NZQA Credits
15
Delivery method
- Web-Enhanced
Learning hours
- Total learning hours
- 150
Resources required
- Learning and Teaching Resource
- All required and recommended resources are advised to aakonga via course outlines.
- Learning Outcomes
- - Estimate valuation of work carried out on a construction site.
- Evaluate and prepare variations, fluctuations, time extension costs and adjustments for work carried out on a construction site.
- Prepare claims and variations using approved communication protocols for work carried out on a construction site.
- Prepare and monitor a detailed cashflow for a construction project. - Content
- - Valuation of work carried out on a construction site: amendments – sum and quantity adjustments; variations – additions, deductions, time for completion; unfixed materials both on/off site.
- Evaluation of variations, fluctuations, time extension costs and adjustments: variations - overview of systems, site instructions, variation price requests, variation orders and progressive cost implications – measurement, pricing.
- Fluctuations – classification of recovery methods, evaluation of correct price variations.
- Time extensions – evaluation of claims, cost impact.
- Adjustments against actual expenditure – provisional, prime cost, net, contingency.
- Communication protocols, account statements and valuations presentation: communication protocols and procedures established and monitored throughout the project.
- Account statements – interim and final, including contract works, variations, fluctuations, adjustments, liquidated damages, bonuses, materials on/off site.
- Presentation of valuations/statements meets building project and contract documentation – including certification requirements, retentions, progress payments.
- Completion of cashflow statements: elemental cost plan - concepts, elemental analysis rules and estimating procedures - bulk quantity unit, elemental units.
- Identification and assembly of relevant documentation - preliminary drawings, specifications, design briefs, historical cost information.
- Cost fluctuations.
- Plan assembled to meet industry and client requirements.
- Cashflow statements - purpose and types.
- Identification, selection and format meet client requirements and industry standards. - Teaching and Learning Strategy
- Learning and teaching activities will employ a range of elements drawn from approved methods to align with the context of the learning (delivery mode, regional specific requirement, etc.) and any particular needs of the group of aakonga.
- Assessment Criteria
- Assessment in this course employs an achievement-based grading scheme. Aakonga will be advised of all matters relating to summative assessment prior to the start of the course.
