Module title: Building Economics 3

SCQF level: 09:
SCQF credit value: 20.00
ECTS credit value: 10

Module code: BSV09115
Module leader: Andrew Smith
School School of Engineering and the Built Environment
Subject area group: Building and Surveying
Prerequisites

Module code: BSV08104
Module title: Building Economics 1
Examples of equivalent learning: Building Economics equivalent to SCQF level 8

2018/9, Trimester 2, FACE-TO-FACE, Edinburgh Napier University
Occurrence: 001
Primary mode of delivery: FACE-TO-FACE
Location of delivery: MERCHISTON
Partner: Edinburgh Napier University
Member of staff responsible for delivering module: Andrew Smith
Module Organiser:


Learning, Teaching and Assessment (LTA) Approach:
Learning & teaching methods including their alignment to LOs
A module guide is issued in week one that outlines the topics and core references. Each week a 2 hour lecture (with break) is delivered using structured overheads which also contain question /issue prompts for student response and scope for deeper consideration. Each lecture is supported by a tutorial session. This has a variety of formats from individual exercise to group tasks with defined outputs and the expectation of presenting results to tutor and peers. Case material supplied by consultancies is incorporated. At the end of the module the students participate in a mock project team role in a case based VM. One specialist guest lecture is normally included in the programme.
Embedding of employability/ PDP/ scholarship skills
The key skills developed partially align with the RICS Quantity Surveying and Construction Pathway Competency Design Economics (T022) at Level 2. Providing evidence of the practical application of cost and value engineering appropriate to your area of practice, and of awareness of the circumstances in which specialist advice is necessary.

Examples of activities and knowledge comprised within this level are:

- Carrying out capital cost and value engineering exercises to determine the optimum design and evaluate
the impact of sustainability issues on design and construction processes
- Carrying out life cycle cost exercises which take account of sustainability issues

Assessment (formative and summative)
Formative assessment in week 8 based on a Literature Review.
Summative assessment takes place in week 14 or 15 with a formal examination.

Research/ teaching linkages
Close links are maintained with the Building Performance Centre (BPC) at Napier University. This includes reference to research papers and guest lecturing from Centre staff.

Formative Assessment:
The University is currently undertaking work to improve the quality of information provided on methods of assessment and feedback. Please refer to the section on Learning and Teaching Approaches above for further information about this module’s learning, teaching and assessment practices, including formative and summative approaches.

Summative Assessment:
The University is currently undertaking work to improve the quality of information provided on methods of assessment and feedback. Please refer to the section on Learning and Teaching Approaches above for further information about this module’s learning, teaching and assessment practices, including formative and summative approaches.

Student Activity (Notional Equivalent Study Hours (NESH))
Mode of activityLearning & Teaching ActivityNESH (Study Hours)
Face To Face Lecture 24
Face To Face Tutorial 24
Face To Face Centrally Time Tabled Examination 3
Independent Learning Guided independent study 149
Total Study Hours200
Expected Total Study Hours for Module200


Assessment
Type of Assessment Weighting % LOs covered Week due Length in Hours/Words
Essay 30 2 8 HOURS= 0, WORDS= 1500-2000
Centrally Time Tabled Examination 70 1-5 14/15 HOURS= 3, WORDS= 0
Component 1 subtotal: 30
Component 2 subtotal: 70
Module subtotal: 100
2018/9, Trimester 2, FACE-TO-FACE,
Occurrence: 002
Primary mode of delivery: FACE-TO-FACE
Location of delivery: MERCHISTON
Partner:
Member of staff responsible for delivering module: Andrew Smith
Module Organiser:


Learning, Teaching and Assessment (LTA) Approach:
A module guide is issued in week one that outlines the topics and core references.

Each week a 2 hour lecture (with break) is delivered and each lecture is supported by a tutorial session (LOs 1-5).

The tutorial has a variety of formats from individual exercise to group tasks with defined outputs (LOs 1-5).

Example developer's budgets will be covered inn lectures and then practiced by students individually in class, with support from the tutor (LO1).

LOs 2-5 are developed through lecture and associated tutorial questions or group tasks.

One specialist guest lecture is normally included in the programme (LOs 2 and 4).

Formative Assessment:
Formative assessment in week 8 based on a Literature Review.

Summative Assessment:
Summative assessment takes place in week 14 or 15 with a centrally timetabled examination.

Student Activity (Notional Equivalent Study Hours (NESH))
Mode of activityLearning & Teaching ActivityNESH (Study Hours)
Face To Face Lecture 24
Face To Face Tutorial 12
Face To Face Centrally Time Tabled Examination 3
Independent Learning Guided independent study 161
Total Study Hours200
Expected Total Study Hours for Module200


Assessment
Type of Assessment Weighting % LOs covered Week due Length in Hours/Words
Essay 30 2 8
Centrally Time Tabled Examination 70 1-5 14/15 HOURS= 3
Component 1 subtotal: 30
Component 2 subtotal: 70
Module subtotal: 100

Description of module content:

Principles of project appraisal design economics and cost geometry. Design efficiency and cost models. Economic obsolescence, refurbishment cost appraisal. Whole life approach to building economics. Adding value to procurement. Determining function and identifying unnecessary cost. Incorporating VM techniques to projects. Cost benefit analysis and new directions techniques to achieve project value.

Learning Outcomes for module:

On completion of this module you be able to:
LO1 prepare a developer's budget with a focus on procurement aspects, comment on assumptions and assess risk;
LO2 explain the concept of VFM and its application in construction procurement;
LO3 initiate an appropriate cost/value framework for a variety of project types;
LO4 evaluate the suitability of example cost models and value engineering techniques for new build refurbishment, whole life implications and business operation management;
LO5 undertake a VFM review of example project design.

Indicative References and Reading List - URL:
BSV09115