Institute of Commercial Management | Qualification Subject

The Financial & Commercial Framework

ICM Professional Diploma Unit

Defining the Project

  • Receipt of customer enquiries
  • Screening enquiries
  • Defining projects
  • Defining a project for financial appraisal
  • The customer’s project specification
  • Project scope
  • Using checklists
  • Project and design specifications
  • Product development projects
  • Developing the project specification

Cost Estimates – Definitions and Principles

  • Estimating accuracy
  • Classification of estimates
  • Prices and profits
  • Version control
  • Work breakdown
  • Cost coding systems
  • Benefits of a coding system
  • Choosing a coding system
  • Customer requirements and coding

Cost Estimates – Estimating in Practice

  • Compiling the task list
  • Level of detail
  • Estimating formats
  • Estimating manufacturing costs
  • Estimating labour time
  • Personal estimating characteristics
  • Material and equipment costs
  • Below the line costs
  • Reviewing cost estimates

Commercial Management

  • Financial project appraisal
  • Project funding
  • Contracts
  • Contract payment structures
  • Insurance

Example Candidate Response Booklet

Example Candidate Response (ECR) Booklets are a source of crucial information for Centres and Candidates as they use real candidate responses. We ask Senior Examiners to comment on five or more responses in terms of why the mark was awarded with commentary about how to improve the answer (if necessary).

Recommended Reading

Main Text:

Project Management – Dennis Lock (Gower)

Indicative Text:

Alternative Text and Further Reading: