DESIGN ECONOMICS AND COST PLANNING

SHE Level 5
SCQF Credit Points 15.00
ECTS Credit Points 7.50
Module Code MMK224023
Module Leader John Lowe
School School of Computing, Engineering and Built Environment
Subject Construction and Surveying
Trimesters
  • A (September start)
  • C (May start)

Summary of Content

This module operates an overall 50% pass rate. There are four main themes within this module: Cost Modelling Cost Planning Design Economics Statistical Foundations

Syllabus

Cost modelling, including order of cost and approximate quantities estimating. Cost Planning, including elemental cost planning and analysis, elemental unit quantities and rates, cost planning for civil engineering works. Design Economics, including building morphology, optimization models, life cycle costing. Statistical Foundations, including index numbers, time series, regression models, analytical statistics.

Learning Outcomes

On successful completion of this module students should be able to:1 Undertake a life cycle cost appraisal for a simple construction project 2 Recognise and apply the framework of formal cost planning and cost control 3 Identify the objectives of cost forecasting and cost control 4 Identify, appraise, select and apply appropriate methods of cost forecasting 5 Recognize sources of cost data and utilize same as appropriate.(A1, A2, A3. A4. A5, A6, B1, B2, B3, B4, B5, B6, C2, C4, C5, C6)

Teaching / Learning Strategy

A web-based form of delivery will be used throughout the module. All students will use the web for all of their teaching and learning materials. Full-time and part-time students will be able to participate in enhancement seminars which will facilitate discussion and allow them to meet visiting speakers and take part in site visits and simulations where appropriate. This material will also be made available to distance learning students. Assignments will adopt an integrated approach to the appraisal of projects from inception through to construction and beyond.

Indicative Reading

Ashworth, A (2010) Cost Studies of Buildings, 5th edition, Routledge, Abingdon Kirkham, Richard: Ferry and Brandon's Cost Planning of Buildings (2014), 9th edition, Wiley-Blackwell, London Flanagan R & Tate B (1997) Cost Control in Building Design, Wiley-Blackwell, Wiley-Blackwell, London Myers Danny: Construction Economics: a new approach, second edition (2008), Taylor and Francis, London The Royal Institution of Chartered Surveyors Quantity Surveyors Practice Pamphlet No 3 Pre-Contract Cost Control and Cost Planning, RICS Building Cost Information Service Standard Form of Cost Analysis (2008), 4th (NRM) edition: Principles, Instructions, Elements and Definitions, BCIS. Practice Standard for Earned Value Management (2005) Project Management Insitute. ISBN: 978-1930699427 Sponsoring Change: A Guide to the Governance Aspects of Project Sponorship (2009) Association for Project Management ISBN: 978-1903494301 Analysis for financial management, Higgins, Robert C, 10th Edition For (Oman Students Only) Bi financial Mnagement & Accounting System, Nadhani A.K (Oman Students Only) Costruction Accounting and Financial Management, Petrson Steven J 3rd Edition (Oman Students Only)

Transferrable Skills

Development of: Analytical, appraisal, interpretative and quantitative skills Written, graphical and IT presentation skills including the use of computer spreadsheets for financial projections Verbal, visual and responsive presentation skills Group working, Team Working, Role playing. (D1, D6, D7, D8, D9, D10, D12, D12, & D14)

Module Structure

Activity Total Hours
Assessment (PT) 20.00
Seminars (FT) 20.00
Independent Learning (FDL) 130.00
Seminars (PT) 20.00
Independent Learning (FT) 110.00
Assessment (FDL) 20.00
Independent Learning (PT) 110.00
Assessment (FT) 20.00

Assessment Methods

Component Duration Weighting Threshold Description
Coursework 2 n/a 50.00 45% Cost Planning report
Coursework 1 n/a 50.00 45% Economics report