How the Resourcing function becomes Cost in project terms. From schedule to resourced plan: how many people, what resources, what will it cost.
Learning objectives
By the end of this module, participants will be able to:
- Understand what a resource is in project terms (people, time, equipment, money)
- Resource-load their schedule: assign people and hours to each activity
- Understand the difference between cost and value
- Learn three approaches to estimating cost
- Build a simple cost estimate for their Climate Action Plan project
- Understand what a budget is and why tracking spend matters
- Recognise cost overrun and know the early warning signs
- Connect the Resourcing function to the careers of Cost Manager, Quantity Surveyor, and Commercial Manager
Sections
- 3.1 From Schedule to Resources
- 3.2 What is a Resource?
- 3.3 Resource-Loading the Schedule
- 3.4 What Does It Cost?
- 3.5 Building a Cost Estimate
- 3.6 The Budget and Tracking Spend
Cross-curriculum
- KS4 Maths — Number (decimal arithmetic, percentage)
- KS4 Maths — Ratio, proportion, and rates of change (compound rates, day rates, conversions)
- Life and Work — Financial Literacy (budgeting, cost vs value, tracking spend)
- Life and Work — Writing (cost narrative, budget justification)
Suggested evidence types
- Resource-loaded schedule for the Climate Action Plan
- Cost estimate using three different estimating methods (analogous, parametric, bottom-up)
- Budget tracking spreadsheet showing actuals vs plan
- Reflection on cost vs value: a time when the cheapest option turned out not to be the best