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- LO1: Estimate valuation of work carried out on a construction site.
- LO2: Evaluate and prepare variations, fluctuations, time extension costs and adjustments for work carried out on a construction site.
- LO3: Prepare claims and variations using approved communication protocols for work carried out on a construction site. 
- LO4: Prepare and monitor a detailed cashflow for a construction project.

# Introduction to Financial Administration
Introduce the fundamental financial processes in construction, including cash flow types, variations, and progress claims, ensuring learners recognize essential components for effective financial administration.

- Identify cash flow types used in construction. (LO4)
- Identify type of variation in a medium construction project. (LO2)
- Recognize the need for progress claims. (LO1, LO3)
- Identify components of a progress claim. (LO1, LO3)

# Claims Communication and Negotiation
Equip learners with the ability to understand legal and contractual requirements for claims communication and prepare claims using industry-standard documentation.

- Explain the legal and contractual requirements for claims communication. (LO3)
- Define principles of communication in construction claims. (LO3)
- Prepare claims using appropriate documentation. (LO3)

# Valuation of Building Works
Develop skills in estimating and calculating the value of completed construction work, incorporating progress claims and P&G into project valuations.

- Identify the purpose of retention in a construction project. (LO1, LO3)
- Explain methods for estimating the value of completed construction work. (LO1)
- Identify factors that influence the valuation of building works on a construction site. (LO1)
- Calculate the value of completed work using a schedule of rates. (LO1)
- Prepare progress claims for a construction project. (LO3)
- Incorporate P&G into a progress claim for a construction project. (LO3)

# On and Off-Site Materials
Enable learners to differentiate between on-site and off-site materials and calculate their value for inclusion in project valuations.

- Calculate the value of on-site materials. (LO3)
- Explain the difference between on-site and off-site material claims. (LO1, LO3)
- Verify documentation for off-site materials to ensure they are included in project valuations. (LO3)
- Calculate the value of off-site materials. (LO3)

## Assessment 1 
Weight: 35%

Timing: After Topic 5
### Components:
Preparation of a Progress Claim (LO1, LO3): Create a progress claim using provided data.

Variation Pricing and Assessment (LO2): Price a variation and explain the process.

Cash Flow Forecasting (LO4): Develop a cash flow forecast.

# Introduction to Variations
Familiarize learners with the types and causes of variations in construction projects and their financial implications.

- Compare different types of variations and their financial implications. (LO2)
- Identify causes of variations in construction projects. (LO2)

# Preparing and Assessing Variations
Provide knowledge on preparing and evaluating variations, following contractual procedures, and pricing methods.

- Prepare a variation for a construction project. (LO2)
- Explain the contractual procedures for submitting and approving variations. (LO3)
- Evaluate the valuation methods used for pricing variations. (LO2)

# Monetary Allowances
Explain the use of monetary allowances in construction contracts and how to apply them in project contexts.

- Explain types of monetary allowances used in construction contracts. (LO2)
- Apply monetary allowances in the context of construction projects. (LO2)

# Applying Cost Fluctuations
Teach methods for adjusting costs due to fluctuations in materials and labour, and identify causes of these fluctuations.

- Apply methods for calculating and adjusting costs based on fluctuations in material and labour prices. (LO2, LO4)
- Explain the causes of cost fluctuations in construction materials and labour. (LO1, LO2)

# Extension of Time Claims
Introduce the principles and procedures of extension of time claims, evaluating their financial impact on project costs.

- Define the purpose of extension of time (EOT) claims in construction contracts. (LO1)
- Discuss different types of delays that can lead to EOT claims. (LO1)
- Explain the conditions under which EOT claims can be submitted. (LO1)
- Evaluate the financial impact of EOT claims on project costs. (LO2)
- Prepare documentation for submitting EOT claims using approved communication protocols. (LO2)

# Liquidated Damages
Define liquidated damages in construction contracts and guide learners on how to calculate them based on project terms and timelines.

- Define the purpose of liquidated damages in construction contracts. (LO1)
- Compare liquidated damages clauses in construction contracts. (LO1)
- Calculate liquidated damages based on contractual terms and project timelines. (LO1)

# Cashflow Preparation and Monitoring
Develop skills in preparing and monitoring detailed cashflows for construction projects and communicating cashflow status to stakeholders.

- Prepare a detailed cashflow for a construction project. (LO4)
- Communicate cashflow status to stakeholders using standard reporting tools. (LO4)
- Identify factors affecting project cashflow. (LO4)
- Define the components of a construction project cashflow. (LO4)

# Advanced Cashflow Management
Explore advanced financial tools and strategies for optimizing project cashflow and managing shortfalls.

- Compare financial tools for optimizing project cashflow management. (LO4)
- Develop contingency plans for cashflow shortfalls in construction projects. (LO4)

## Assessment 2 
Weight: 35%

Timing: After Topic 5
### Components:
Preparation of a Progress Claim (LO1, LO3): Create a progress claim using provided data.

Variation Pricing and Assessment (LO2): Price a variation and explain the process.

Cash Flow Forecasting (LO4): Develop a cash flow forecast.

 
- LO1: Estimate valuation of work carried out on a construction site.- LO2: Evaluate and prepare variations, fluctuations, time extension costs and adjustments for work carried out on a construction site.- LO3: Prepare claims and variations using approved communication protocols for work carried out on a construction site. - LO4: Prepare and monitor a detailed cashflow for a construction project.​# Introduction to Financial AdministrationIntroduce the fundamental financial processes in construction, including cash flow types, variations, and progress claims, ensuring learners recognize essential components for effective financial administration.​- Identify cash flow types used in construction. (LO4)- Identify type of variation in a medium construction project. (LO2)- Recognize the need for progress claims. (LO1, LO3)- Identify components of a progress claim. (LO1, LO3)​# Claims Communication and NegotiationEquip learners with the ability to understand legal and contractual requirements for claims communication and prepare claims using industry-standard documentation.​- Explain the legal and contractual requirements for claims communication. (LO3)- Define principles of communication in construction claims. (LO3)- Prepare claims using appropriate documentation. (LO3)​# Valuation of Building WorksDevelop skills in estimating and calculating the value of completed construction work, incorporating progress claims and P&G into project valuations.​- Identify the purpose of retention in a construction project. (LO1, LO3)- Explain methods for estimating the value of completed construction work. (LO1)- Identify factors that influence the valuation of building works on a construction site. (LO1)- Calculate the value of completed work using a schedule of rates. (LO1)- Prepare progress claims for a construction project. (LO3)- Incorporate P&G into a progress claim for a construction project. (LO3)​# On and Off-Site MaterialsEnable learners to differentiate between on-site and off-site materials and calculate their value for inclusion in project valuations.​- Calculate the value of on-site materials. (LO3)- Explain the difference between on-site and off-site material claims. (LO1, LO3)- Verify documentation for off-site materials to ensure they are included in project valuations. (LO3)

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Topic 1: Introduction to Financial Administration

Introduce the fundamental financial processes in construction, including cash flow types, variations, and progress claims, ensuring learners recognize essential components for effective financial administration.

1.1 Identify cash flow types used in construction. (LO4)
1.2 Identify type of variation in a medium construction project. (LO2)
1.3 Recognize the need for progress claims. (LO1, LO3)
1.4 Identify components of a progress claim. (LO1, LO3)

Topic 2: Claims Communication and Negotiation

Equip learners with the ability to understand legal and contractual requirements for claims communication and prepare claims using industry-standard documentation.

2.1 Explain the legal and contractual requirements for claims communication. (LO3)
2.2 Define principles of communication in construction claims. (LO3)
2.3 Prepare claims using appropriate documentation. (LO3)

Topic 3: Valuation of Building Works

Develop skills in estimating and calculating the value of completed construction work, incorporating progress claims and P&G into project valuations.

3.1 Identify the purpose of retention in a construction project. (LO1, LO3)
3.2 Explain methods for estimating the value of completed construction work. (LO1)
3.3 Identify factors that influence the valuation of building works on a construction site. (LO1)
3.4 Calculate the value of completed work using a schedule of rates. (LO1)
3.5 Prepare progress claims for a construction project. (LO3)
3.6 Incorporate P&G into a progress claim for a construction project. (LO3)

Topic 4: On and Off-Site Materials

Enable learners to differentiate between on-site and off-site materials and calculate their value for inclusion in project valuations.

4.1 Calculate the value of on-site materials. (LO3)
4.2 Explain the difference between on-site and off-site material claims. (LO1, LO3)
4.3 Verify documentation for off-site materials to ensure they are included in project valuations. (LO3)
4.4 Calculate the value of off-site materials. (LO3)

Assessment: Assessment 1

Weight: 35%

Timing: After Topic 5

Components:

Preparation of a Progress Claim (LO1, LO3): Create a progress claim using provided data.

Variation Pricing and Assessment (LO2): Price a variation and explain the process.

Cash Flow Forecasting (LO4): Develop a cash flow forecast.

Topic 5: Introduction to Variations

Familiarize learners with the types and causes of variations in construction projects and their financial implications.

5.1 Compare different types of variations and their financial implications. (LO2)
5.2 Identify causes of variations in construction projects. (LO2)

Topic 6: Preparing and Assessing Variations

Provide knowledge on preparing and evaluating variations, following contractual procedures, and pricing methods.

6.1 Prepare a variation for a construction project. (LO2)
6.2 Explain the contractual procedures for submitting and approving variations. (LO3)
6.3 Evaluate the valuation methods used for pricing variations. (LO2)

Topic 7: Monetary Allowances

Explain the use of monetary allowances in construction contracts and how to apply them in project contexts.

7.1 Explain types of monetary allowances used in construction contracts. (LO2)
7.2 Apply monetary allowances in the context of construction projects. (LO2)

Topic 8: Applying Cost Fluctuations

Teach methods for adjusting costs due to fluctuations in materials and labour, and identify causes of these fluctuations.

8.1 Apply methods for calculating and adjusting costs based on fluctuations in material and labour prices. (LO2, LO4)
8.2 Explain the causes of cost fluctuations in construction materials and labour. (LO1, LO2)

Topic 9: Extension of Time Claims

Introduce the principles and procedures of extension of time claims, evaluating their financial impact on project costs.

9.1 Define the purpose of extension of time (EOT) claims in construction contracts. (LO1)
9.2 Discuss different types of delays that can lead to EOT claims. (LO1)
9.3 Explain the conditions under which EOT claims can be submitted. (LO1)
9.4 Evaluate the financial impact of EOT claims on project costs. (LO2)
9.5 Prepare documentation for submitting EOT claims using approved communication protocols. (LO2)

Topic 10: Liquidated Damages

Define liquidated damages in construction contracts and guide learners on how to calculate them based on project terms and timelines.

10.1 Define the purpose of liquidated damages in construction contracts. (LO1)
10.2 Compare liquidated damages clauses in construction contracts. (LO1)
10.3 Calculate liquidated damages based on contractual terms and project timelines. (LO1)

Topic 11: Cashflow Preparation and Monitoring

Develop skills in preparing and monitoring detailed cashflows for construction projects and communicating cashflow status to stakeholders.

11.1 Prepare a detailed cashflow for a construction project. (LO4)
11.2 Communicate cashflow status to stakeholders using standard reporting tools. (LO4)
11.3 Identify factors affecting project cashflow. (LO4)
11.4 Define the components of a construction project cashflow. (LO4)

Topic 12: Advanced Cashflow Management

Explore advanced financial tools and strategies for optimizing project cashflow and managing shortfalls.

12.1 Compare financial tools for optimizing project cashflow management. (LO4)
12.2 Develop contingency plans for cashflow shortfalls in construction projects. (LO4)

Assessment: Assessment 2

Weight: 35%

Timing: After Topic 5

Components:

Preparation of a Progress Claim (LO1, LO3): Create a progress claim using provided data.

Variation Pricing and Assessment (LO2): Price a variation and explain the process.

Cash Flow Forecasting (LO4): Develop a cash flow forecast.