Quantity Surveying 1 (11669.1)

This unit is designed to introduce students with the theory and practice of proper management, costing and control as the essential elements of a successful construction projects. It is intended to provide a seamless connection between costing and construction project management from the built environment practitioner's perspective. Students will learn about and conduct exercises relevant to the building construction industry in discounted cash flow, net present value, internal rate of return, cost of capital and opportunity cost analysis, payroll, taxation considerations including capital allowances, purchasing, financial statements, insurance and cash management. In addition, the business cycle, the role of fiscal and monetary policy and their effects on the construction industry are explored.

Learning outcomes

Upon successful completion of this unit, students will be able to:
1. Demonstrate an understanding of micro and macro financial management and apply this knowledge to construction practice locally and internationally;
2. Describe and practice the methods of financing available to the stakeholders in construction industry;
3. Appraise the importance and impact of monetary and fiscal policy on the construction business cycle; and
4. Develop competencies in professional practice in capital investment decisions and cash flow management.

Graduate attributes

1. UC graduates are professional - communicate effectively
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
1. UC graduates are professional - work collaboratively as part of a team, negotiate, and resolve conflict
2. UC graduates are global citizens - think globally about issues in their profession
2. UC graduates are global citizens - communicate effectively in diverse cultural and social settings
3. UC graduates are lifelong learners - adapt to complexity, ambiguity and change by being flexible and keen to engage with new ideas

Prerequisites

None.

Corequisites

None.

Incompatible units

None.

Equivalent units

None.

Assumed knowledge

None.