Budgets, Costs and Financial Frameworks Course Descriptor

Course Summary

This course explores how to manage project budgets and costs within appropriate financial frameworks. Learners will examine cost management including cost estimation, behaviour, allocation and control. Project performance and an introduction to forecasting and risk in terms of costs and budgets will be explored. 

Course Aims

• Train learners in the fundamental terminology, practice and frameworks used in project budgets and costs.
• Train learners in how to control and manage the cost of projects.
• Introduce learners to budget forecasting and risk.

Learning Outcomes

On successful completion of the course, learners will be able to:

Knowledge and Understanding

Subject Specific Skills

Transferable and Professional Skills

Teaching and Learning

This is an e-learning course, taught throughout the year. 

This course can be offered as a standalone short course.

Teaching and learning strategies for this course will include: 

• Online learning
• Online discussion groups
• Online assessment

Course information and supplementary materials will be available on the University’s Virtual Learning Environment (VLE).

Learners are required to attend and participate in all the formal and timetabled sessions for this course. Learners are also expected to manage their self-directed learning and independent study in support of the course.

The course learning and teaching hours will be structured as follows:

• Off-the-job learning and teaching (6 days x 7 hours) = 42 hours
• On-the-job learning (12 days x 7 hours) = 84 hours (e.g. 2 days per week for 6 weeks)
• Private study (4 hours per week) = 24 hours

Total = 150 hours

Workplace assignments (see below) will be completed as part of on-the-job learning.

Assessment

Formative

Learners will be formatively assessed during the course by means of set assignments. These will not count towards the final degree but will provide learners with developmental feedback. 

Summative

Feedback

Learners will receive formal feedback in a variety of ways: written (via email or VLE correspondence) and indirectly through online discussion groups. Learners will also attend a formal meeting with their Academic Mentor (and for apprentices, including their Line Manager). These bi or tri-partite reviews will monitor and evaluate the learner’s progress.  

Feedback is provided on summative assessment and is made available to the student either via email, the VLE or another appropriate method.

Indicative Reading

Note: Comprehensive and current reading lists for courses are produced annually in the Course Syllabus or other documentation provided to learners; the indicative reading list provided below is used as part of the approval/modification process only.

Books

Yescombe, E. (2014). Principles of Project Finance. Kindlington, Oxford : Academic Press

Black, A.C. (2005). Get to Grips with Budgets : How to Take the Stress out of Working with Numbers. Bloomsbury

Harrin, E. (2007). Project Management in the Real World Shortcuts to Success. Swindon, UK : British Computer Society

Journals

Learners are encouraged to read material from relevant journals on project budgets, costs and financial frameworks as directed by their course leader.

Electronic Resources

Learners are encouraged to consult relevant websites on project budgets, costs and financial frameworks.

Indicative Topics

• Budgets and Costs
• Financial Frameworks
• Control, forecasting and Risk