代写218.325 POST CONTRACT FINANCIAL ADMINISTRATION Semester 1, 2024代写数据结构语言程序

- 首页 >> Java编程

218.325

POST CONTRACT FINANCIAL

ADMINISTRATION

Semester 1, 2024

ASSIGNMENT ONE

(A) INSTRUCTIONS:

1.   This is an individual assignment.

2.  This ASSESSMENT ONE contains TWO questions. Answer ALL questions.

3.   Total marks for the assessment two: 100 marks

4.  Total course weightage and contribution of the assessment component = 30%

5.   Submission date (Stream deadline): Thursday, 18 April 2024, no later than 11:50 pm 6.   Online submission on Stream: COMPULSORY. No hard copy submission is required

7.   Late assignments will be penalised as per the course guide and the school’s policy.

8.  You must include your names and IDs, the course number, the course title, and the names of the course teaching team on the cover page.

9.  You are only allowed to submit the following on Stream.

i. Excel – For calculations & charts

ii. Word documents or PDF – Explanations/ reporting.

(B) MODE OF SUBMISSION:

10. You MUST submit your assignment to the Stream drop-box with the file name 218.325-

A1-2024-[student name]- [student ID].

11. If necessary, the appendix may be submitted as a separate file with the file name:

218.325-A1-APPENDIX-2024-[student name]-[student ID].

(C) LEARNING OUTCOMES COVERED:

LO2. Prepare post-contract cost forecasting, cost monitoring and reporting

QUESTION ONE: 70 MARKS

“Cost control is an essential  part   of  any   commercial organisation.   Unfortunately, construction  firms  and  associated  sub-contracting organisations tend to face issues in maintaining effective financial control systems compared to other industries. However, it is essential that project costs are monitored. Construction firms traditionally operate on small profit margins and limited working capital, and as a result, it is vitally important to maintain a

positive cash flow” (Paraphrased from Birchall & Ramus, 2007).

Assume that you are a Quantity Surveyor for a major construction company in New Zealand. Your company has just signed a new contract to construct an office building in Auckland. The post-contract stage  has started, and the company assigned you as the  project Quantity Surveyor. Your site manager asked you to prepare a cost report based on the expected cash

flow of the project. The following information is given to you.

Retention - 10% from each valuation (release 50% at the practical completion, and the rest of the retention to be released at the final completion)

The retention amount is capped and is subject to a maximum of 5% of the Contract Sum

The estimated profit of the project is 20%

Payment claims amount and the certified payments are the same with no adjustments (GST is not required to be calculated)

Defects liability period is 3 months

Use the information in Table 01 on page 5 of 8

Task 01

Standard Conditions of Contract in New Zealand (NZS 3910: 2023) does not include an Advance Payment Clause. Therefore, using Ms Excel prepare a table to calculate the following

for each month without the Advance Payments. List any assumptions required for your

calculations.

a.   Cumulative budget/ Earned Value

b.   Monthly payment claims

c.   Revenue

d.   Expenditure

e.   Capital

Task 02

Using the calculations in Task 01,

a.   create a chart to draft the Budget curve, revenue curve, and expenditure curve

b.   create a separate sawtooth diagram to draft the capital. [10 marks]

Task 03

After you finish the cash flow, the principal decided to pay an advance to the Contractor to start the work. Since there is no clause for advance payment in NZS 3910, the Contract Administrator added an advance payment clause to the Special Conditions of Contract section

as below. Now:

a.   make a copy of the calculations and charts you prepared in task 01 and update them incorporating the advance payment.

b.   List any assumptions you had to make to these calculations [20 marks]

Advance payment

10% of the Contract Sum as an advance is payable to the Contractor before commencing the work.  The Advance will be recovered 25% of each monthly payment claim/ certified payment before  deducting  the  retentions.  However, advance recovery will not start until the overall progress of the project reaches

10%.

Task 04

The client and the consultant Quantity Surveyor have requested a cost-forecasting report for the project. The report includes the charts and diagrams from tasks 2 and 3. Using your answer to the above tasks 1, 2, and 3, provide a report explaining the cost forecast. Your explanation must include the following.

a.   Behaviour of the cash flow without payment advances (tasks 1 and 2)

b.   Behaviour of the cash flow with payment advances (task 3)

c.   Apart from payment advances, briefly explain other methods that are available to address the impact of negative cash flow [15 marks]

QUESTION TWO: 30 MARKS

Assume that your project in Question One has reached the end of the 4th month and 47% of the project is completed. The construction manager asked you to prepare the cost control and

forecast report based on the current situation.

Scope of

work

Budgeted

Value (BAC)

($)

Actual Cost of Work Performed (AC) each month ($)

Month 01

Month 02

Month 03

Month 04

Office Building

8,000,000.00

261,000.00

890,000.00

1,200,000.00

1,420,000.00

Progress of work

9%

30%

40%

47%

Task 01

Calculate the following:

a.   Planned Values

b.  Actual Cost

c.   Earned Value

d.   Cost and Schedule Variances

e.   Cost and Schedule Performance Indices

Task 02

Draft  the  information  into  an  S-curve  chart  to  show  the  status  of  the  project.  List  any

assumptions required for your calculations. [5 marks]

Task 03

What is the forecasted cost and duration at the project completion? Assume that the same

cost and schedule performance indices will continue to affect the remaining work.[5 marks]

Task 04

Based on the cost and schedule performance indices you calculate, what performance rate to

be maintain to finish the project at the Estimate at Completion from task 3? [5 marks]

Task 05

The construction manager has requested a cost update of the project at the end of the 4th month of the project. Using your answers for tasks 1 to 4, provide a cost update explaining the project’s current status and forecast for the rest of the project. [10 marks]



站长地图