Institute of Commercial Management | Qualification Subject

Financial & Commercial Framework (The)

Main Topics of Study

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

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Recommended Reading

Main Text:

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Project Management – Dennis Lock (Gower)

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