CNST603 – Financial Administration of Construction Contracts
Financial Administration of Construction Contracts
To enable the student to develop the skills and knowledge to analyse and conduct a valuation and prepare account statements for work carried out on a construction site.
- Directed hours
- Self directed hours
- Total learning hours
- Learning Outcomes
- 1:Analyse and conduct a valuation of work carried out on a construction site
2:Evaluate variations, fluctuations, time extension costs and adjustment of included sums
3:Apply communication protocols, prepare progress claim certificates, interim and final account statements
- May include, but not limited to, an appropriate selection from the following topics:
Valuation of work carried out on a construction site: evaluate actual progress on site; co-ordinate with monitoring systems i.e. construction programme and cash flow; 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, additions, deductions - measurement, pricing. Fluctuations - classification of recovery methods, evaluation of correct price variations. Time extensions - evaluation of claims, cost impact. Adjustments against actual expenditure - provisional sums and quantities, 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 meet building project and contract documentation - including certification requirements, retentions, and progress payments.
- Teaching and Learning Strategy
- Learning activities for topics may typically include practical/workshop case studies, lectures, tutorials, field trips, group work, visiting specialists, computer simulations, web technologies, projects and self-directed learning.
- Assessment Criteria
- A portfolio is a compilation of evidence presented by the student in ways that demonstrate their acquired knowledge, competencies and capabilities.
The contents of students' portfolios may typically include evidence of achievement from assignments, projects, tests, exams, formative assessments, and peer assessments, self and group assessments.
Portfolio of Evidence100
- Learning and Teaching Resource
- Access to PC equipment
Selected software e.g. spreadsheets
Access to online material, product and pricing data
Sample project documentation