Module Details
| Module Code: |
BULD8030 |
| Title: |
Commercial Management
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|
Long Title:
|
Commercial Management Post-Contract
|
| NFQ Level: |
Advanced |
| Valid From: |
Semester 1 - 2022/23 ( September 2022 ) |
| Field of Study: |
5821 - Building Science
|
| Module Description: |
This module will enable the student to financially manage a construction project, post-contract, to ensure value for money for all participants.
|
| Learning Outcomes |
| On successful completion of this module the learner will be able to: |
| # |
Learning Outcome Description |
| LO1 |
Conduct post-contract financial management procedures including updating and reporting on project cost and cash flow. |
| LO2 |
Design and implement an appropriate, effective, integrated construction-stage financial management system. |
| LO3 |
Prepare detailed interim valuations for complex construction projects. |
| LO4 |
Reconcile costs against value received. |
| LO5 |
Forecast the final cost and formulate full final accounts for complex construction projects. |
| Dependencies |
Module Recommendations
This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
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Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
|
| No incompatible modules listed |
Co-requisite Modules
|
| No Co-requisite modules listed |
Requirements
This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.
|
| No requirements listed |
| Indicative Content |
|
Construction phase cost management and cost control
Charting costs incurred against targets. Cost/Value reconciliation. Reporting mechanisms for feedback of
cost data. Identifying possible action for correcting cost trends. Relating actual costs incurred to cashflow
projections and reporting any differences. sub-contractor packaging and appointment; site measurement;
site resource control; interim accounts, recommendations certificates and payments; contract variations;
cost/value reporting; contract financial reporting; financial forecasting; understanding contractual claims;
sub-contractor financial management and contractual issues.
|
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Post completion cost management
Final account preparation, submission and agreement, feedback of cost data and final cost analysis.
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Value improvement for future projects
Analysing causes of cost deviations. Organisational and process value improvement techniques.
|
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Whole life costing and cost management
Value for money: optimum combination of whole-life cost and quality to meet the user’s requirement. Award criteria (MEAT), lowest price etc., long-term value over the life of the asset. The relationship between long-term costs and the benefit achieved by clients.
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Module Content & Assessment
|
| Assessment Breakdown | % |
|---|
| Coursework | 20.00% |
| End of Module Formal Examination | 80.00% |
Assessments
| End of Module Formal Examination |
|
|
| Reassessment Requirement |
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.
|
The University reserves the right to alter the nature and timings of assessment
Module Workload
| Workload: Full Time |
| Workload Type |
Contact Type |
Workload Description |
Frequency |
Average Weekly Learner Workload |
Hours |
| Lecture |
Contact |
Theory on course topics and worked examples. |
Every Week |
4.00 |
4 |
| Independent Learning |
Non Contact |
Review, augmentation and application of lecture material. |
Every Week |
3.00 |
3 |
| Total Hours |
7.00 |
| Total Weekly Learner Workload |
7.00 |
| Total Weekly Contact Hours |
4.00 |
| Workload: Part Time |
| Workload Type |
Contact Type |
Workload Description |
Frequency |
Average Weekly Learner Workload |
Hours |
| Lecture |
Contact |
Theory on course topics and worked examples. |
Every Week |
4.00 |
4 |
| Independent Learning |
Non Contact |
Review, augmentation and application of lecture material. |
Every Week |
3.00 |
3 |
| Total Hours |
7.00 |
| Total Weekly Learner Workload |
7.00 |
| Total Weekly Contact Hours |
4.00 |
|
Module Resources
|
| Recommended Book Resources |
|---|
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Sandra Lee, William Trench, Andrew Willis,. (2014), Willis's Elements of Quantity Surveying, 12th ed.
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Andrew Ross, Peter Williams. (2013), Financial Management in Construction Contracting.
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Keith Potts. (2014), Construction Cost Management.
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David Lowe. (2013), Commercial Management: Theory and Practice.
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Jeffrey Whitfield. (2013), Good Practice Guide: Assessing Loss and Expense (Riba Good Practice Guides).
| | Supplementary Book Resources |
|---|
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Roger Gibson. (2015), A Practical Guide to Disruption and Productivity Loss on Construction and Engineering Projects.
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Brian Pinder-Ayres. (2008), Good practice guide, Financial Management. RIBA Pub., London, [ISBN: 978-1-85946-289-8].
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Duncan Cartlidge. (2015), Construction Project Manager's Pocket Book.
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Allan Ashworth, Keith Hogg, Catherine Higgs. (2013), Willis's Practice and Procedure for the Quantity Surveyor, 13th.
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Duncan Cartlidge. (2017), Quantity Surveyor's Pocket Book, 3rd ed.
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Halim Boussabaine, Richard J. Kirkham, Roger Flanagan. (2010), Whole Life-Cycle Costing (Innovation in the Built Environment).
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Peter Caplehorn,. (2012), Whole Life Costing, [ISBN: 978-0415434232].
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Peter Barrett, Edward Finch. (2013), Facilities Management: The Dynamics of Excellence, 3rd. [ISBN: 978-0470673973].
| | Recommended Article/Paper Resources |
|---|
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Lexology. Various articles.
| | Supplementary Article/Paper Resources |
|---|
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Construction Manager Magazine. Various Articles.
| | Other Resources |
|---|
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website, Society of Chartered Surveyors Ireland,
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website, Royal Institution of Chartered Surveyors,
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website, Construction Procurement reform,
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website, National procurement service,
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