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Construction Cost Planning and Economics (ABPL30056)
Undergraduate level 3Points: 12.5Not available in 2019
About this subject
Overview
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This subject examines the financial management of construction at the pre-contract stage including the practice of the professional quantity surveyor. This subject aims to give students the knowledge of the processes involved in establishing and maintaining client’s budget at the design stage. It provides students with skills needed to effectively monitor the budget for a simple building project on a regular basis during the design stage by cost planning of evolving design, and preparing cost estimate at detailed design and tender documentation stage including the application of life cycle costing technique to design of buildings. Topics covered include Design Economics; Cost planning and control in building design: cost estimating procedure and simple cost modelling techniques and whole life costing.
Intended learning outcomes
On completion of the subject students should be able to:
- Analyse building design variables influencing the cost of a buildings.
- Apply standard cost planning techniques to simple buildings during the design process.
- Describe the role of cost planning and analysis as a means of managing the design process and obtaining value for money.
- Explain the process of construction cost forecasting.
- Know how to apply simple cost modelling processes.
- Know how to choose among alternative design solutions using the cost-in-use technique.
Generic skills
At the completion of the subject students should have developed the following skills and capabilities:
- Understanding of construction documentation used in nonresidential construction.
- Effective participation as a team member.
- Evaluation of alternative construction solutions.
- Understanding of the cost significance of building elements.
Last updated: 3 November 2022