| Title: | Commercial Management |
|---|
| Long Title: | Commercial Management - Post Contract |
|---|
| Field of Study: |
Building Science
|
| Valid From: |
Semester 1 - 2014/15 ( September 2014 ) |
| Module Coordinator: |
DANIEL CAHILL |
| Module Author: |
EITHNE FARR |
| 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: |
| LO1 |
Prepare detailed interim valuation for complex construction projects |
| LO2 |
Reconcile costs against value received |
| LO3 |
Forecast the final cost and formulate full final accounts for complex construction projects |
| LO4 |
Conduct post contract financial management procedures including updating and reporting on project cost and cashflow |
| LO5 |
Design and implement an appropriate, effective, intergrted construction-stage financial management system |
| Pre-requisite learning |
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 CIT module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s). |
| No recommendations listed |
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 |
Co-requisites
|
| No Co Requisites listed |
Module Content & Assessment
| 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; preparation of contractual claims;
sub-contractor accounts and payments; sub-contractor final account agreement; sub-contractor insolvency
and contractual issues, set-off charges accounts; audit procedures.
|
|
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.
|
| Assessment Breakdown | % |
|---|
| Course Work | 20.00% |
| End of Module Formal Examination | 80.00% |
| Course Work |
|---|
| Assessment Type |
Assessment Description |
Outcome addressed |
% of total |
Assessment Date |
| Short Answer Questions |
One hour exam |
1,5 |
20.0 |
Week 5 |
| End of Module Formal Examination |
|---|
| Assessment Type |
Assessment Description |
Outcome addressed |
% of total |
Assessment Date |
| Formal Exam |
End-of-Semester Final Examination |
1,2,3,4 |
80.0 |
End-of-Semester |
| 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 institute reserves the right to alter the nature and timings of assessment
Module Workload
| Workload: Full Time |
| Workload Type |
Workload Description |
Hours |
Frequency |
Average Weekly Learner Workload |
| Lecture |
Delivery of module content |
4.0 |
Every Week |
4.00 |
| Independent Learning |
Review, augmentation and application of lecture material |
3.0 |
Every Week |
3.00 |
| Total Hours |
7.00 |
| Total Weekly Learner Workload |
7.00 |
| Total Weekly Contact Hours |
4.00 |
| Workload: Part Time |
| Workload Type |
Workload Description |
Hours |
Frequency |
Average Weekly Learner Workload |
| Lecture |
Delivery of module content |
2.0 |
Every Week |
2.00 |
| Independent Learning |
Review, augmentation and application of lecture material |
5.0 |
Every Week |
5.00 |
| Total Hours |
7.00 |
| Total Weekly Learner Workload |
7.00 |
| Total Weekly Contact Hours |
2.00 |
Module Resources
| Recommended Book Resources |
|---|
- Sandra Lee, William Trench, Andrew Willis, 2011, Willis's Elements of Quantity Surveying, 11th ed Ed. [ISBN: 978-1444335002]
- Ian Walker and Robert Wilkie 2002, Commercial management in construction, Blackwell Science Oxford [ISBN: 978-0-6320-5827-3]
- Tim Boyce, Cathy Lake, 2006, The Commercial Manager [ISBN: 978-1-8541-8358-3]
| | Supplementary Book Resources |
|---|
- RIBA, Good Practice guide to Extensions of time
- Paul Newman, Jeff Whitfield, Loss and expense claims explained
- Barrett F.R. 1992, Cost Value Reconciliation, 2nd Ed., The Chartered instutute of Building [ISBN: 1-85380 049 X]
- Brian Pinder-Ayres 2008, Good practice guide, Financial Management Ed., RIBA Pub. London [ISBN: 978-1-85946-289-8]
- Frank Booty 2009, Facilities Management Handbook [ISBN: 978-0-7506-8977-9]
- Brian Cooke, Peter Williams, 2009, Construction Planning, Programming and Control, 3rd Ed. [ISBN: 978-1-4051-8380-2]
- Allan Ashworth, Keith Hogg, 2011, Willis's Practice and Procedure for the Quantity Surveyor [ISBN: 978-1-4051-4578-7]
- Duncan Cartlidge 2012, Quantity Surveyor's Pocket Book, 2nd ed Ed. [ISBN: 978-0415501101]
- David Lowe (Editor), Roine Leiringer (Editor) 2006, Commercial Management of Projects defining the role [ISBN: 978-1-4051-2450-8]
- Abdelhalim Boussabaine, Richard J. Kirkham, 2003, Whole Life-Cycle Costing [ISBN: 978-1405107860]
- Peter Caplehorn, 2012, Whole Life Costing [ISBN: 978-0415434232]
- Peter Barrett, Edward Finch 2013, Facilities Management: The Dynamics of Excellence, 3rd Ed. [ISBN: 978-0470673973]
| | Supplementary Article/Paper Resources |
|---|
- David Lowe BSc MSc PhD FRICS,Peter Fenn BSc ARKS FClArb and Sarah Roberts MSc 1997, AN INVESTIGATION INTO THE ROLE OF THE COMMERCIAL MANAGER
| | Other Resources |
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- website: www.scsi.ieSociety of Chartered Surveyors Ireland
- website: www.rics.org
- website: Office of government procurement
- website: National procurement service
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Module Delivered in
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