Task 1 — Application of building codes and standards to the construction process for medium rise building projectsThis assessment requires you to monitor costing systems for a medium-rise project. Although many larger building companies have automated software that does this

Task 1 — Application of building codes and standards to the construction process for medium rise building projects
This assessment requires you to monitor costing systems for a medium-rise project. Although many larger building companies have automated software that does this, it is important that you understand what the software is doing; therefore, you are not permitted to use specialised estimating and costing software to complete this assessment. The assessment requires you to prepare a range of data that can then be used for monitoring over the project and finally to prepare a final cost report. The report requires you to analyse data and make recommendations to a current actual live project, or the attached construction project as a simulated project where you don’t have access to a live project about future costing.
Part 1— Prepare costing data for a medium-rise project
Part 1 requires you to prepare a range of costing data for the building project. You are required to:
• undertake a risk assessment where estimated cost is compared to estimated risk • prepare a schedule of project expenditure for your project to identify critical points and ensure that cash lows are matched to expenditure • prepare the cost centres for your project, using either a trade-based or element-based system • prepare curves showing cash flows and control
• prepare projected cash flows (pessimistic and optimistic) using time risk and cost risk, including overdraft requirements prepare interim payment claims (including rise and fall calculations). Green? Use a spreadsheet program to provide your responses to your assessor and provide both electronic and hard copies.
Part 2 — Monitor expenditure for a medium-rise project
Part 2 requires you to monitor the expenditure on the project. A list of variations to the project has been provided below. You are to address these in order. For each of these variations, you are required to: • determine the cost of the variation and record it in your spreadsheet • compare the budget cost and the actual cost • analyse the effect on the project of the cost variation • recommend any action to be taken by the company in response to the variation record the actions you have taken to maintain financial compliance.
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