Finance and Project Management unit (ENG320)

Introduction

This unit equips students with essential skills in engineering project management and finance, preparing them to address real-world challenges through human-centered design approaches. The unit covers project funding from both developer and investor perspectives, along with the creation and application of project budgets and cash flow models.

Students will learn to define and describe the key elements of a standard engineering project plan, including scope determination, project scheduling, stakeholder management, and risk analysis. They will apply negotiating, decision-making, and leadership skills in project scenarios, using tools such as Multi-Criteria Decision Analysis, Cost-Benefit Analysis (CBA), and Failure Mode Effects Analysis (FMEA).

The unit also focuses on interpreting project budgets, cash flow forecasts, and investment models, integrating cost estimation, procurement, supply chain information, and contingency planning. Students will construct and maintain project cash flow forecast models and apply financial concepts such as Net Present Value (NPV) and Internal Rate of Return (IRR) to project finance models.

Students will compare climate-safe designs with established engineering methodologies using techno-economic assessments. They will identify climate-safe design approaches, develop comparative lists, and perform techno-economic analyses to evaluate multiple competing designs.

Students will continue to engage in the Vertically Integrated Projects (VIP) in this unit, where they will apply their learning in collaborative, multi-cohort project environments. VIP runs from year 1 to year 3 in both semesters and involves students working in teams across year levels and specialisations to contribute to real-world design and research challenges related to Climate Safe Engineering. These project experiences will enable students to develop the professional skills necessary for engineering while integrating their technical knowledge. In the third year of the VIP, students will lead their team project, managing the team efforts, prioritising goals and setting deadlines. They will document and report team progress, model inclusive behavior, and reflect on the technical success of their design solutions. This unit prepares students to effectively manage engineering projects and make informed financial decisions, contributing to sustainable and climate-safe engineering practices.

Summary

Unit name	Finance and Project Management
Unit code	ENG320
Credit points	12.5
College/School	Sciences and Engineering School of Engineering
Discipline	Engineering
Coordinator	Professor Tim Finnigan
Available as an elective?	Yes
Delivered By	University of Tasmania
Level	Advanced

Availability

Specific information on 2027 unit availability will be available in August

Learning Outcomes

• Define and describe the key elements of a standard engineering project plan
• Apply negotiating, decision-making and leadership skills in engineering projects
• Interpret project budgets, cashflow forecasts, and investment models
• Compare climate-safe designs with established engineering methodologies using techno-economic assessments
• Lead a multi-year project team working on a real-world engineering challenge through effective project management and technical leadership.

Fee Information

2027 fee information will be available in August.

Requisites

Prerequisites

ENG210 Materials and Environment, ENG209 Ethics and Environmental Responsibility and (concurrent enrolment in a 3rd year level specialisation unit OR have completed a 3rd year level specialisation unit)

Teaching

Teaching Pattern	3 x 2 hour workshop per week
Assessment	Simulation: Leadership and Negotiation Interview (25%)|VIP Notebook and Peer Evaluations (35%)|Project Management Skills (40%)
Timetable	View the lecture timetable | View the full unit timetable

Textbooks

Required	Required readings will be listed in the unit outline prior to the start of classes.

The University reserves the right to amend or remove courses and unit availabilities, as appropriate.