10 credits at level HE5
This module introduces students to the basic concepts of construction economics applied to building and civil engineering projects. The syllabus is designed to assist students in developing and applying the skills and techniques necessary for the preparation of pre-design cost advice and tender estimates.
1To extend and develop the base of knowledge acquired from the Level 1 modules of Construction and Materials Technology and Measurement and Practice by establishing principles of financial management of the construction process.
2. To develop the concept of Design Cost control.
3 To develop the principles and techniques of construction economics.
Early Cost Advice (50%)
Principles of pre-design estimating. Sources and use of cost data. Introduction to cost indices. Budgeting and approximate estimating techniques; approximate quantities. Economics of design variables and use in analysis of development costs.
Estimating Procedures (30%)
Estimating construction costs; all-in rates for labour and plant; materials purchasing, bulking and wastage; pricing of preliminaries including overheads and profit; increased costs; contractor's risk and finance costs; the role of subcontractors. Analytical estimating; synthesis of rates for building work.
Property Valuation (20%)
The concept of value and investment; methods of valuation, rental value; premiums; service charges.
when you have successfully completed this module you will:
to demonstrate that you have achieved the learning outcome you will:
|1.||Understand the concept of design cost control and its origins, including the nature and use of cost data, in solving given problems;
Prepare a feasibility report on projects.
|2.||Be able to identify cost behavioural characteristics of building design;
Prepare a report to aid Architect/Engineer in the development of his design.
|3.||Know how to prepare a preliminary estimate and an elemental cost plan;
Produce a cost plan
|4.||Know how to produce an approximate estimate;
Prepare an approximate estimate, choosing appropriate techniques in keeping with client’s brief and stage of design
|5.||Know and use appropriate cost data sources;
Download information using appropriate software for the purpose of any one of the above
|6.||Be able to price measured work;
|7.||Be able to apply computer-based cost data sources;
|8.||Be able to provide cost advice within a design/construction team setting||Carry out co-ordinated costing duties as a group member|
Your achievement of the learning outcomes for this module will be tested as follows:
|Description||Assessed by assignment work (involving responses to set problems in design budgeting), to determine the content of individual student knowledge / application.||Assessed by a combination of assignment work and examination (involving responses to set problems in design costing and pre-tender estimating), integrating across subject areas as appropriate.|
Before taking this module you must have successfully completed the following:
No restrictions apply.
BCIS Standard Form of Cost Analysis, BCIS/RICS.
Ferry, D.J., and Brandon, P.S., "Cost Planning of Buildings", 6th Edition, BSP, 1991.
Ashworth, A., "Cost Studies of Buildings", 2nd Edition, 1994, Longman.
Raferty, J. et al, "Building Cost Modelling", 1st Edition, 1996, Blackwell.
Smith, R.C., "Estimating and Tendering for Building Work", 2nd Edition, 1996, Longman.
Ashworth, A., "Pre-Contract Studies", 1st Edition, 1996, Longman.
Seeley, I H., “Building Economics”, 5th Edition, 2000
Flanagan, R.. & Tate, B., “Cost Control in Building Design”, 1st Edition, 1997, Blackwell.
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