Project assessment

Criteria

Unit code and name: BSBPMG533 | Manage project cost

Qualification/Course code and name: BSB50820 | Diploma of Project Management

Assessment instructions

Assessment details	Instructions
Instructions for the student	This assessment is in one part: Part 1: Project And is supported by: Observation checklist Assessment checklist Appendix 1: BSBPMG533_AE_Pro2of2_Appx1_Simulation Pack Appendix 2: BSBPMG533_AE_Pro2of2_Appx2_stakeholder_script Appendix 3: BSBPMG533_AE_Pro2of2_Appx3_Project_budget Appendix 4: BSBPMG533_AE_Pro2of2_Appx4_project_details Appendix 5: BSBPMG533_AE_Pro2of2_Appx5_cost_management_plan Note: This assessment may contain links to external resources. If a link does not work, copy and paste the URL directly into the browser. For guidance on applying reasonable adjustment refer Assessment Guidelines for TAFE NSW (WDETG18411)
Student must provide	TAFE NSW student account username and password. If they do not know their username and password, contact campus or service centre on 131601. Computer or other device with word processing software and internet access.
Assessor must provide	Access to two simulated projects (and supporting documentation) for students who do not have access to two workplace projects. Access to examples of project schedules, reports, and feedback from project stakeholders regarding time management for students who do not have access to two workplace projects.
Due date Time allowed Location	Refer to the Unit Assessment Guide 5 hours (indicative only) Assessment is to be completed out of class.

Specific task instructions

This document contains the instructions for the projects and what information you need to provide.

These requirements can be met using two currently active projects or two projects using the simulated projects located in the BSBPMG533_AE_Pro2of2_Appx1_Simulation Pack. You also have the option of using one workplace project and one simulated project.

If using a project within their own workplace, each project must:

have

appropriate

workplace

approvals to use the project in

this

 

assessment (any details that may impact confidentiality

can be blanked out

)

be

 

current

(

not previously completed

)

 

which

the student

 

is

actively

working through

have a lifecycle greater than three months

enable

student

 

to

have access to the project team, and stakeholders

have

outcome and documentation

that

align to the unit criteria

give student

access to workplace examples of project schedules, reports and feedback from project stakeholders regarding time management.

Simulated projects

All details related to the simulated projects, can be found in the BSBPMG533_AE_Pro2of2_Appx1_Simulation Pack.

For both projects, you will be working as a “Project Officer” for Gelos Enterprises, and tasked with one or both of the following projects:

Gym renovation

Annual conference

Submission instructions

Once all tasks have been completed, you will need to upload the BSBPMG533_AE_Pro2of2_Appx4_project_details document and any additional documents (such as the project budget) as per assessor instructions.

When the submitting video evidence, you must:

p

rovide a video for each participation clearly meeting all requirements.

e

nsure

you

have access to the equipment and resources required to participate in each demonstration.

f

ollow the

Video recording instructions (pdf)

. This one-pager includes useful tips, links to resources, and a demonstration video

a

ddress the questions or items listed in the observation checklist, either during the demonstration or record them in a separate video file.

Part 1: Project

For this assessment, you will need to record a meeting with project stakeholders, and complete both a project budget and cost management plan for two different projects.

You will need to work through all tasks below for each project.

Task 1. Project scope

Complete the relevant sections in BSBPMG533_AE_Pro2of2_Appx4_Project_details to provide detailed information about the project including:

type of project

goals and objectives

the student’s role and who they will be working with.

Task 2. Agree on cost management details

Review the project details and lead a 5 to 10-minute virtual meeting with at least two other people in the project team.

Lead and record the meeting

Complete the ‘Meeting Outcomes’ documentation in Task 2 of BSBPMG533_AE_Pro2of2_Appx4_Project_Details

During the meeting you must:

d

iscuss the financial objectives of the project

a

gree on actions required to maintain the financial objectives

i

dentify resources required for each task identified in Project 1’s work breakdown schedule (WBS)

a

gree on

project tolerances

for required resources

d

iscuss process

es

and procedures for monitoring actual expenditure against project budge

t

, including details

about ongoing recording of income and expenses as well as timely, accurate financial reporting.

You will need to demonstrate the following communication skills during the meeting:

clear language and appropriate tone and syntax when providing relevant information

active listening and questioning to elicit views and opinions from others.

 

For simulated projects, you may ask a family member, friend or student to participate, using the BSBPMG533_AE_Pro2of2_Appx2_Stakeholder_script.

For workplace projects, you will need to receive permission from their workplace to record and use this meeting as part of their assessment.

Task 3. Project budget

Develop a project budget that includes:

All resources identified during the Task 2 meeting, alongside appropriate cost estimate techniques (either based on the workplace’s policies and procedures the bottom-up estimation technique if using the simulated project) to determine each project’s budget

Provides a note on which cost estimation technique has been used

Check that the total budgeted amounts do not exceed the project tolerances agreed in Task 2.

Resources

You can use the BSBPMG533_AE_Pro2of2_Appx3_Project_budget for this task, or an equivalent Project Budget template from their workplace. Manually drawn schedules are not acceptable.

Task 4. Cost management plan

Complete the relevant section in BSBMPG533_AE_Pro2of2_Appx4_Project_Details to develop a cost management plan that includes:

financial objectives of the project

actions required to maintain financial objectives

resources required

estimated and maximum project costs for required resources

processes and procedures to monitor actual expenditure

potential causes for increased costs

cost control procedures, including variation rates and approval requirements.

Task 5. Monitor expenditure against budget

Assume that you are one month into the project. Update and submit a revised project budget that:

records any actual costs the project has incurred against the project budget developed in Task 2

Ensure that the revised PS is submitted with this assessment.

Task 6. Financial report

Complete the relevant section in BSBMPG533_AE_Pro2of2_Appx4_Project_Details to:

Draft an email to a stakeholder to report on the status of the project

Your financial report in the email should include:

A summary of the finance to date

Current expenditure details

Variations and actions taken to address the variation

A review of the cost management processes to date

Appropriate business-style writing and correct grammar.

If using a simulated project, the email should be addressed to the CEO.

You should assume that the updated budget is attached to the email and that there has been previous engagement with this project sponsor.

The text of the email should be in grammatically correct English and written in appropriate business-like style.

Task 7. Review outcomes, issues and document improvements

Complete the relevant section in BSBMPG533_AE_Pro2of2_Appx4_Project_Details to signify financial completion of the project by evaluating the effectiveness of the cost management against project outcomes including:

An evaluation of whether the tools used were effective or not in managing the budget against the agreed original scope of outcomes and deliverables

At least two cost management issues that occurred during the project’s lifecycle

At least two recommendations for cost management processes for future projects.

Observation checklist (for Task 2: Meeting)

Table 2 - Assessment Checklist

Task #	Task/Activity performed	S	U/S	Assessor comments (Describe the student’s ability in demonstrating the required skills and knowledge)
Task 2	The student: Identified resource requirements for individual tasks identified in the work breakdown structure in consultation with relevant stakeholders Worked with stakeholders to agree on tolerances for estimated project costs
	During the meeting the student demonstrated active listening and questioning
	Used verbal exchanges using clear language and appropriate tone and syntax

Assessment checklist

All tasks listed in this checklist are to be completed twice.  

Table 3 - Assessment Checklist

		Project 1		Project 2
Task #	Task/Activity performed	S	U/S	S	U/S	Assessor comments (Describe the student’s ability in demonstrating the required skills and knowledge)
Task 1	The student provided detailed information about the project. Including type of project goals and objectives. The student role and who the student will be working with
Task 2	Led meeting to agree on cost management details including: A 5-to-ten-minute virtual meeting with at least two project stakeholders (demonstrated via supplied recording) Completed Meeting Outcomes documentation
Task 3	Created a project budget including: List of resources agreed during Task 1 meeting Appropriate cost estimate technique including note on the technique that was used Correct total budgeted amounts that do not exceed agreed project tolerances
Task 4	Cost management plan including: Financial objectives of projects and actions required for maintaining them Resources required, as well as their estimated maximum costs Processes and procedures to monitor actual expenditure Potential causes for increased costs Cost control procedures, including variation rates and approval requirements
Task 5	Monitored expenditure against budget by: Recording actual costs project has incurred once month into project against original project budget Identified at least on cost variance
Task 6	Delivered updated financial report on status of project, one month into project, supplied via email to project sponsor and including: summary of finance to date current expenditure details actions take to address the variation review of cost management processes to date appropriate business-style writing and correct grammar.
Task 7	Review outcomes, issues and document improvements by completing documentation appropriate for project sponsor and including: note on financial completion evaluation of effectiveness of tools used for managing budget at least two cost management issues that occurred during project’s lifecycle Two recommendations for cost management process for future projects.

Assessment feedback

NOTE: This section must have the Teacher/Assessor and student signature to complete the feedback. If you are submitting through the TAFE NSW online learning platform, your Teacher/Assessor will give you feedback via the platform.

Assessment outcome

Satisfactory

Unsatisfactory

Assessor feedback

Has the assessment declaration for this assessment event been signed and dated by the student?

Are you assured that the evidence presented for assessment is the student’s own work?

Was reasonable adjustment in place for this assessment event?