Authorised by Academic Registrar, April 1996
Objectives The student is expected to develop an understanding of the principles of financial management and project cost analysis; acquire a working knowledge of the structure of engineering contracts; be familiar with the range of project planning techniques for scheduling activities, allocating resources and optimising time/cost.
Synopsis Financial management: mathematics of interest, present worth, nominal and effective interest rates, annuities, equivalent annual costs, project evaluation (NPV and IRR), depreciation and taxation. Engineering contracts: contract law, AS2124, negligence, dispute resolution and engineering specifications. Project planning: scheduling of activities, critical path activity on arrow and precedence diagrams, time/cost optimisation, Gantt charts and resource allocation, probabilistic approach (PERT) and use of computer packages.
Assessment Examination: 60% + Assignments: 40%