| Title: | Construction Value & Risk Mgt |
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| Long Title: | Construction Value and Risk Management |
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| Field of Study: |
Interdisciplinary Engineering
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| Valid From: |
Semester 1 - 2014/15 ( September 2014 ) |
| Module Coordinator: |
DANIEL CAHILL |
| Module Author: |
GILLIAN CAREY |
| Module Description: |
On successful completion of this module the learner will be able to critically appraise the construction project life cycle from a value and risk perspective. |
| Learning Outcomes |
| On successful completion of this module the learner will be able to: |
| LO1 |
Evaluate the client economic decisions and financial considerations and systems on construction projects. |
| LO2 |
Assess the value and risk management of the strategic and tactical development of a construction project. |
| LO3 |
Validate a practical appreciation of value and risk management techniques used at the technical development stage of the design. |
| LO4 |
Critically evaluate the implementation of value and risk management strategies on a construction project. |
| 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 |
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Building the Business Value Case
Client requirements, Client value system, Capital Investment Decision making, AAR/IRR, Risk management and appraising capital expenditure and taxation matters including corporate tax and tax write off.
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Pre Contract Value Management
Value Management, Value Engineering, Functional Analysis, Facilitation, Value Engineering workshops, Value Management from clients' perspective, Value Management report.
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Pre Contract Risk Management
Initation, Project appraisal and selection, Risk and uncertainty, Project evaluation, Risk management, Uncertainty management, Quantitative and qualitative risk, Risk assessment techniques, Develop awareness of Project Managers view of risk.
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Post Contract Value Management
Framework to assess flexibility of quality, time and cost, Post operational feedback, Client and project team interface, Stakeholder satisfaction, Contractor collaboration.
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Post Contract Risk Management
Risk categories, Risk classification, Risk allocation, Monitoring and controlling risks on site, Tools and techniques, Risk response, Understanding the amount of risk on a construction project.
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| Assessment Breakdown | % |
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| Course Work | 100.00% |
| Course Work |
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| Assessment Type |
Assessment Description |
Outcome addressed |
% of total |
Assessment Date |
| Project |
Project Economics/Financial Considerations |
1 |
20.0 |
Week 3 |
| Project |
Precontract value and risk management |
2,3 |
40.0 |
Week 7 |
| Project |
Postcontract value and risk management |
4 |
40.0 |
Sem End |
| No End of Module Formal Examination |
| Reassessment Requirement |
Coursework Only
This module is reassessed solely on the basis of re-submitted coursework. There is no repeat written examination.
|
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 course material |
2.0 |
Every Week |
2.00 |
| Independent Learning |
Self directed learning |
5.0 |
Every Week |
5.00 |
| Total Hours |
7.00 |
| Total Weekly Learner Workload |
7.00 |
| Total Weekly Contact Hours |
2.00 |
| Workload: Part Time |
| Workload Type |
Workload Description |
Hours |
Frequency |
Average Weekly Learner Workload |
| Lecture |
Delivery of course material |
2.0 |
Every Week |
2.00 |
| Independent Learning |
Self directed learning |
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 |
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- Roger Flanagan and George Norman 1993, Risk management and construction [ISBN: 0-632-02816-5]
- Kelly J., Male S. and Drummond G. 2004, Value Management of Construction Projects, John Wiley & Sons Oxford [ISBN: 1405173483]
- Paul O'Meara, Thomas Power, Stephen Walsh, 2009, Financial Management [ISBN: 0-7171-3842-9]
- Nigel J. Smith, Tony Merna, Paul Jobling, 2006, Managing Risk [ISBN: 978-1405130127]
- Project Management Institute, 2010, A Guide to the Project Management Body of Knowledge [ISBN: 978-1933890661]
| | Supplementary Book Resources |
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- Michael Mulreany (Editor) 1995, Economic and Financial Evaluation [ISBN: 1-902448-21-9]
- Leslie Edwards 1995, Practical risk management in the construction industry, Thomas Telford London [ISBN: 978-0727720641]
- Basil Sawczuk 1996, Risk avoidance for the building team, E & FN Spon London [ISBN: 978-0419208105]
- by Michael F. Dallas 2006, Value and risk management, Blackwell Oxford [ISBN: 9781405120692]
| | This module does not have any article/paper resources |
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| This module does not have any other resources |
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Module Delivered in
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