Project Management Essentials Cost, Time, Quality

Learn to Manage Time, Cost and Quality Fundamentals on Construction Projects and become a better project manager
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  • Lectures 52
  • Length 14 hours
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 1/2014 English

Course Description

This course is based on these three knowledge areas of the Project Management Body of Knowledge as set by the Project Management Institute. Students are introduced to the principles and applications of time, cost and quality management as they relate to the construction and engineering industry - so a combination of theory and practice. Completion of the program will enable you to demonstrate a strong understanding of the background, principles and applications of these subjects and can be used in progress towards a full Diploma of Project Management.

Please note that this course is priced in US dollars.

Duration of Study

The pace at which each student studies is different. The nominal hours for this course are 120 hours, however, this can vary greatly depending on your previous experience and study techniques. Student support is available by asking a question online or visiting our website.

Our Support as a Registered Training Organisation (Provider number 22450)

As a RTO (Provider number 22450), Exner Education is responsible for delivering quality training and assessment.

The Units of competency covered in this course are

1. Manage Project Cost BSBPMG514A

2. Manage Project Time BSBPMG512A
3. Manage Project Quality BSBPMG513A

and represents 3 units of the 12 required to complete a full Diploma of Project Management.

If you are an Australian student and would like to be assessed for a Nationally accredited statement of attainment within the VET sector, please visit our website for further information.

You may also be interested in qualifying for the Diploma of project management. The project management essentials course makes up 25% of the diploma.

What are the requirements?

  • basic understanding of construction projects

What am I going to get from this course?

  • Understand Project Cost Planning
  • Focus on Project Cost Risks issues in Construction
  • Estimating and Cost planning
  • Cost Variations
  • Understand Project Quality Planning
  • Focus on the Project quality risks in construction
  • Quality Assurance and Quality Assurance documents in engineering/construction
  • Understanding Project Time Management
  • Focus on Project Time Risks in Construction
  • Scheduling
  • Measuring Time Performance

Who is the target audience?

  • project managers, construction managers, site managers, foreman, contract managers, business owners, contractors, construction clients

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.


Section 1: Introduction
Course Overview
7 pages

Read the Student Guide to gain an understanding of our policies on assessments, enrolments, and student support.

Section 2: Manage Project Time
Guidelines to Studying Manage Project Time
106 pages

Here are the full notes to the Manage Project Time Course. You can download and print the entire set, or use the notes that are broken down in each section as you go through your studies - its your choice!


Watch the overview video on managing project time and don't forget to look at the additional material referred to in the video - stages of the a project and the scheduling overview diagram. Good luck


This video on the 10 top risks in construction when managing time should set the scene for you!

Time Management Considerations for Construction Projects

Watch the video on how to establish a schedule and don't forget to download and have a look at the additional material.

Schedule Establishment
10 questions

This video looks at identifying and estimating activities. Don't forget to check out the additional material with this lecture and undertake Case Study 1. Case Study 1 asks you to consider how your construction organisation, or one that you know, manages their time and what they think are the most important elements associated with managing time.

Activity Durations
10 questions

Watch this video on how the approach the approval of time schedules and don't forget to look at the additional information, including Case Study 2. This case study looks at who are the project stakeholders you must consider when making decisions about allocating time to projects.

Schedule Approval
10 questions

What this video on the many methods to manage time and don't forget to download the additional material.

Time Management Methods
10 questions

Watch this video on considering the financial implications of project time and undertake case study 3. This case study looks at once time implications are identified, that other resource factors have to also be identified and factored in. It asks you to think about those resource requirements, like labour, price, materials, staff needs etc.

Financial Requirements
10 questions

What this video on how to manage those authorities that will influence the management of time on your project. For instance, how to seek agreements with higher authorities and stakeholders and systems to use to manage, monitor and report on time. Don't forget to undertake Case Study 4. This Case Study looks at how projects are approved in your organisation and what information stakeholders need to approve projects.

Higher Authorities
10 questions

Watch this video which closely looks at how to measure progress. Don't forget to have a go at Case Study 5 and 6. Case Study 5 looks at tools and methods used for reporting time. Case Study 6 looks at time variances.


This video looks at analysing construction project schedules and determining the impact on the schedule of any variations to project scope - called: Identifying Time Variations.

Measuring Progress
10 questions

Watch the video on progress review and changes, and undertake Case Study 7 and 8. Case Study 7 looks at changes that occur to scope on projects and what action must be taken to change project scheduling as a result. Case Study 8 looks at changes in an organisation that impact projects and require assessment and change.

Progress Reviews and Changes
10 questions

Watch the video on assessing outcomes and don't forget to undertake Case Study 9. Case Study 9 looks at analysing how effective time management has been once a project has been completed, and how this is used to influence better performance in the future.

Assessing Outcomes
10 questions

Watch this video on Reviewing time management and don't forget to do the last case study, Case Study 10, which is about looking at how to make improvements in time managements by learning from past benchmarks.

Reviewing Time Management
7 questions

As your assessment task for the three modules Time, Cost and Quality you need to watch the fascinating documentary filmed on the construction and project management problems related to the construction of Melbourne's Federation Square development, with the Victorian Government as the client.

Once you have watched the video, down load and answer the assessment task which has questions on both some of the findings in the Federation Square documentary, and questions about your own project or project experience.

Section 3: Manage Project Cost
Guidelines to Studying Manage Project Cost
Top 10 Cost Risks in Construction
79 pages

The full course notes are attached to this lecture.

You can download and/or print the notes for review while you are watching the lecture videos.

Selected key diagrams, case studies and sample cost management documents from construction projects are also downloadable and viewable at each section.


Managing project costs is a vital function of project management – and it does not simply mean just managing the “costs” on your project. The reality of cost management is that you must manage everything that incurs a cost, because if you don’t, the costs will just keep on climbing. In building and construction projects, a strong, disciplined management of cost will go a long way in reducing variability of project performance and ensure that successful project delivery can be repeated and improved.

This lecture provides and overview of the key aspects of managing project cost.

Below is also a diagram outlining the six stages of project cost management


The first stage of estimating costs and developing a budget involves the activity of identifying the resources required for each task within a project. To determine the resources required to complete each activity within the project, you need to have a clear understanding of the work required to achieve the project objectives.

You will develop an understanding of each of these aspects in this lecture.

The documents referenced in the video are downloadable and viewable here. Don't forget to consider Case Study 1.

Determining Resource Requirements
7 questions

A component of the role of a project manager on any complex project is the responsibility for managing finances, or costs. This involves the process of identifying the cost of individual resources, creating a project budget for approval by project authorities and keeping a record of anticipated costs and the assumptions or information used to estimate them. Researching and accounting for the total costs associated with completing every task and activity identified in the project WBS is often necessary to support successful cost management.

The key components of how to estimate project costs is explored in this lecture. Don't forget to download and view the additional diagrams referred to in the video.

1 page

The following schedule is an estimate prepared for the Crisp Street Site Development. This site involved the building of 4 residential units. The estimate has been prepared for the underground pipe works only - being Item 1 - Water Supply.

Estimating Project Costs
10 questions

There are numerous strategies available for identification of resources that may be required. Using the experience or employees can be of great benefit when it comes to assessing amounts required. A review of records from similar projects can also be useful. Reviewing the project assumptions can also assist in making more accurate estimates of amount of resource required.

It is most often the responsibility of the project manager to identify the required amount of the resource needed. This lecture teaches what to look for with regard to project resources when preparing a project budget and how to successfully manage resources.

The table referred to in the Video and Case Study 2 is downloadable below.

Identify Resource Requirements
10 questions

After creating and gaining approval for a budget the next step is to then prepare a cost- management plan that indicates how you will manage costs. The processes and procedures for monitoring and controlling costs throughout the project are recorded on this plan.

By preparing a comprehensive plan this then ensures everyone understands how costs will be managed and that they will be managed appropriately, accurately and in accordance with the project agreements and documentation.

You will learn how to create and implement a cost management plan in this lecture.

Dont forget to download and view the diagrams referred to in the video.

Implementing a Cost Management Plan
10 questions

The workload associated with reporting financial performance can be significantly reduced by defining how financial information will be gathered and evaluated during the planning phase. It also helps ensure that you have access to current financial information that supports cost decisions.

This lecture covers how to gather information and track costs to ensure your project stays within to predefined budget.

Case Study 3 is downloadable below, as well as the other diagrams referred to in the video.

Monitor and Control Costs
10 questions

A critical part of managing project costs throughout the project is developing and implementing processes and procedures to monitor expenditure and control costs. In addition to creating and supervising efficient processes, project managers need, throughout the project, to apply their numeracy and budgeting skills to monitor and evaluate financial performance.

This lecture covers the key aspects of the developing and implementing the processes and procedures for monitoring expenditure and controlling costs.

Case Study 4 can be downloaded here.

Attached are two real sample cost reports from construction projects for your to consider.

The first one relates to the demolishing and rebuild of road and tram depot.

The second one related to the building of a basic residential home.

Implement Financial Management Processes
10 questions

So they can identify any variations between the expected cost and the actual cost, project managers monitor costs. Understanding the reasons for variations allows you to evaluate your options and recommend appropriate action for any variations to be controlled.

You will explore how to identify variations in the lecture, why they occur and how to best manage changes to the project budget.

Case Study 5 can be located here as well as the Variation Diagrams referred to in the video.

Identify Variations
10 questions

Upon securing approval for strategies to manage cost variation, project managers must then implement the agreed actions and ensure the outcome is monitored.

Case Study 6 can be downloaded here.

Maintain Financial Objectives
10 questions

Finalising a project involves more than just finishing work on the project deliverables. Project managers must also create final reports, evaluate the cost-management procedures and identify any opportunities to improve performance. If the project involved a government or other funding body, then extensive documentation may be required to fulfil the contractual requirements.

Case Study 7 can be downloaded here.

Financial Completion Activities
10 questions

Evaluating the effectiveness of cost-management processes and procedures by reviewing project outcomes and cost management records is an important responsibility for project managers.

Case Study 8 can be downloaded here as well as other tables referred to in the video.

Review Project Outcomes
10 questions

Resolving cost-management issues that arise throughout the project are involved when managing project costs. Analysing these issues and identifying potential improvements can contribute to the continuous improvement of organisational procedures. It also helps you develop your project management skills.

Case Study 9 can be downloaded here as well as other tables referred to in the video.

Cost Issues and Improvements
10 questions
17 pages

In reporting the monthly costs on construction projects for internal management purposes, the "best practice" method of reporting is shown in this example and includes the following items:

1. Project Cost Report - which sets out the original cost estimate compared with the current costs and forecast cost to complete. The report should break costs down into indirect and direct costs related to the project. Additional information can also be included in the report about HR and safety related issues and any formal notices arising under the contract or any formal contract claims or dispute it

2. Contract Status - a comprehensive cost report on a construction contract should also include an assessment of the construction contract status which focuses on the income and expenditure associated with the contract's progress. The report attached looks at a comparison of the original contract status, and any variations or adjustments that have occurred - and keep track of the profit margin that will be made on the contract.

3. A CVO (Client Variation Register) is also often included in a monthly cost report. It lists any additions or reductions the client has made to the construction contract scope that result in a change to the contract value, and therefore need to be taken into account in assessing the total work and cost of work on the project.

4. Over/Under Claims report highlights the amount of work charged to a project in comparison to the amount of cost charged to the project owner. Typically, costs are charged to each category of work. It is possible to either overclaim or underclaim the amount of work done on a particular area to the client, with in the limits of the estimated total costs. The Over/Under claim report tracks where particular items of work and claims made for payment from the client compared to the amount of work charged to that category of work.

5. A Progress Claim is the form in which the project management will claim payment from the client. A progress claim is generally very detailed, setting out categories of work, quantities of material or amounts of labour charged for particular categories. It also sets out any additional items of work to be undertaken. In conclusion it records the total cost claimed, the % of progress that has been achieved and the value of this months claim. For this reason, the monthly claim is called the Progress Claim.

1 page

This sample cost report is for the building of a small house in Newtoun. The report shows the budgeted or estimated cost for each line item of work, compared to actual costs incurred to date. It then shows the total costs to complete and compares this to the original budgeted costs. This way you can track whether you have overspent or underspent in any category and its the best way to monitor cost control.

Section 4: Manage Project Quality
Guidelines to Studying Manage Project Quality
Top 10 Quality Risks in Construction
81 pages

The full course notes are attached to this lecture.

You can download and/or print the notes for review while you are watching the lecture videos.

Selected key diagrams, case studies and sample cost management documents from construction projects are also downloadable and viewable at each section.


In this lecture you will learn that quality control represents an increasingly important concern for project managers in the building and construction industry. Defects or failures in constructed facilities can result in very large costs. Even with minor defects, reconstruction may be required and facility operations impaired.


In this lecture you will learn that achieving greater control over project outcomes requires recognising the quality objectives, standards and levels for project deliverables and developing plans to reach these standards. Don't forget to refer to the additional material to download including information about the difference between quality control and quality assurance and the components of a quality management system.

Case Study 1 for you to download and complete.

There is also a full list of key QA Documents required to manage Quality on Construction projects for your to consider.

Quality Requirements
10 questions

In this lecture you will learn that in order to successfully manage a project's quality, a lot depends on selecting and using management methods, tools and techniques to determine the preferred mix of quality, capability, cost and time. Don't forget to download the additional material on Quality Management and also undertake Case Study 2.

Also included is a sample Quality Policy for a Construction company for you to consider.

Planning for Quality
10 questions

In this lecture you will learn how to:

  1. Identify quality criteria
  2. Seek agreement on quality matters
  3. Communication quality criteria with stakeholders

Dont forget to download and complete Case Study 4

The Stakeholder and Quality Criteria
10 questions

In this lecture you will learn that using quality control measures to ensure appropriate quality standards are applied throughout the project's life cycle is an important aspect of your responsibilities as a project manager. You will also need to ensure that the products and services meet the quality requirements as agreed to during the planning phase of the project and outlined in the quality management plan.

Dont forget to download and complete Case Study 5

Quality Assurance
10 questions

In this lecture you will learn that after analysing checklists, feedback, third-party reports, trial, inspections or audits, the results obtained should lead to an action plan to implement remediation procedures and continuous improvement processes. Part of your role as a project manager is to implement processes and procedures to identify the causes of unsatisfactory results. Failure to meet required quality standards must be rectified and appropriate actions taken to enable continuous improvement in quality outcomes.

10 questions

In this lecture you will learn that in a project, Quality improvement involves the ongoing assessment of project processes to confirm that specified project outcomes are being met and that improvement actions are continuously being applied. This will assist in ensuring that future projects will benefit from the achievements and challenges of the current project.

Project Quality Improvements
10 questions
Western Ring Road Quality Management Case Study
3 pages

After watching the video documentary,complete the case study questions that cover the following topics:

- Project Stakeholders and their requirements

-Managing the Construction and reporting process

-Quality Assurance and Quality Policies

Western Ring Road Quality Management Case Study - Sample Answers
5 pages
Quality Plan Template for a Small Construction Project
1 page
Quality Plan for Major Construction Projects
85 pages

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Instructor Biography

Exner Education, Project Management for Building and Construction

Exner is an integrated education and consulting firm with over 25 years of experience providing an extensive range of professional management services to the construction industry. Our hands-on experience includes design and construction, expert claims quantification and management, project management, business systems consulting, value for money models, safety in design and risk management systems.

Exner Education is an ASQA registered RTO and is the training development and delivery branch of Exner. From its practical experience and knowledge Exner Education has designed, developed and delivered construction specific training over the past 15 years. Exner Education provides a 'hands on' practical approach to training, developed and delivered by people who have real current practical experience in the field and are qualified VET sector trainers. This gives Exner a unique ability to balance both theoretical teaching knowledge complemented with current 'best practice' work examples.

Our Training & Education experience includes the instructional design of training ranging from:

· safety and site compliance;

· project management including from tender preparation, claims management to project close out;

· engineering practices; and,

· corporate improvement strategies.

Exner Education has designed, developed and delivered training for both large and small companies as well as government authorities including, Leighton Contractors, Pro-Build, Grocon, Schiavello, MBAV, HIA, VMIA, Nicholson Construction, Johns Lyng, APM Group, Victorian Managed Insurance Authority, VicRoads, Department of Treasury and Finance and Victorian Catchment Management Authority.

Exner continues to develop its online learning 'experience' and provides a unique interactive delivery methodology which gives students world first teaching tools, combining Exner's practical construction knowledge with core theory to further enhance the students learning experience.

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