Building Economics (QSB3214) by Mr Ho June Khai and Miss Dianne Kok Hui Wei
Purpose of study building economics
Building Economics enables the student to understand the Quantity Surveyor’s role during the pre-tender stage of the entire supply chain which will help the student in their career in the future. Besides, student will be exposed to practical situations of the various methods of controlling the cost of buildings at the design stage and thus student will came to know the ways to control the cost of a building or structure in the future. Moreover, came to know the relationship between building morphology, design variables and life cycle costing of a building which make them a succeed consultant to advice their client in the future. The author was also came to learn and apply information technology in the cost planning.
Objectives
The objectives was besides study will also be aware of the nature, content, and significance of cost control, cost planning and learned the roles of project teams to fulfill client's requirement. Also need to learned the impact of design variables to obtain an economical design and to know the actual duties of the quantity surveyor in the overall supply chain.
Learning Outcomes
Have learned to identify the role and obligations of Quantity Surveyors in the overall development process and to relate connection between cost and design to a value outcome. In addition, also learned various methods of pre-tender estimating. Apart from that, also learned the way to outline the significance of cost studies so that know the way to enhance the role of Quantity Surveyor in the development process. Besides, also learned to generate an estimate at pre-tender stage, cost plan according to historical data and S-curve for financial planning to a proposed project.
Mid Term Test
Course work 1 consist of a mid term test which contributed a total mark of 20% to the overall assessment which was conducted at week 11. This test enable the students to know how far they had progress. Besides, they will master the topics that the lecturer has taught. After they have Building Economics subject, they will be able to advice future client in terms of economic issues. They would not forget the topics that they have studied.
Building Economics enables the student to understand the Quantity Surveyor’s role during the pre-tender stage of the entire supply chain which will help the student in their career in the future. Besides, student will be exposed to practical situations of the various methods of controlling the cost of buildings at the design stage and thus student will came to know the ways to control the cost of a building or structure in the future. Moreover, came to know the relationship between building morphology, design variables and life cycle costing of a building which make them a succeed consultant to advice their client in the future. The author was also came to learn and apply information technology in the cost planning.
Objectives
The objectives was besides study will also be aware of the nature, content, and significance of cost control, cost planning and learned the roles of project teams to fulfill client's requirement. Also need to learned the impact of design variables to obtain an economical design and to know the actual duties of the quantity surveyor in the overall supply chain.
Learning Outcomes
Have learned to identify the role and obligations of Quantity Surveyors in the overall development process and to relate connection between cost and design to a value outcome. In addition, also learned various methods of pre-tender estimating. Apart from that, also learned the way to outline the significance of cost studies so that know the way to enhance the role of Quantity Surveyor in the development process. Besides, also learned to generate an estimate at pre-tender stage, cost plan according to historical data and S-curve for financial planning to a proposed project.
Mid Term Test
Course work 1 consist of a mid term test which contributed a total mark of 20% to the overall assessment which was conducted at week 11. This test enable the students to know how far they had progress. Besides, they will master the topics that the lecturer has taught. After they have Building Economics subject, they will be able to advice future client in terms of economic issues. They would not forget the topics that they have studied.
Assignments
Assignments comprises of a group assignment and individual assignment which contributed a total mark of 30% of the overall assessment and students need to submit it on the week 12. This group assignment was designed for 6 students per group and the students was required to update and revise the required cost plan based on the information given in the assignment brief. This group assignment expose the students to the actual field and student will gain some basic knowledge on the role and duties of a quantity surveyor in the actual field. While for the individual part students will be able to understand the relevant topics more than before they did the project. Analysis and research skills can then be instill in the students. Students will learn the proper way to give advice to their client in the future. Students will come to know that being a quantity surveyor does not only do measurement but also advice client on other issues.
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Figure 1- This diagram is the procurement method applied and used in my individual assignment.
Figure 2- This is the table we need to prepare for the group assignment which to show the overall calculation and reason for changes.
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