BUILDING ECONOMICS

TUESDAY, 05 JULY 2016

BUILDING ECONOMICS

Reflective Essay

Special thanks goes to Ms. Dianne Kok Hui Wei for lecturing us in this interesting subject. This subject was quite related to our Financial Management module, especially in terms of the costing topics where calculations were needed, like calculating the Internal Rate of Return and Present Values. Hence it helped in my understanding after going through some similar calculations twice, in two different modules. 

I have managed to learn so much more throughout the course, mainly:-

1. Identify the role and responsibilities of Quantity Surveyors in the overall development process and to match the relationship between cost and design to a value outcome.
2. Explain various methods of pre-tender estimating.
3. Outline the importance of cost studies to enhance the role of Quantity Surveyor in the development process.
4. Produce an estimate at pre-tender stage, cost plan based on historical data and S-curve for financial planning to a proposed project.

This module has helped me in understanding the concepts of cost control and also whole life costing. To me, I personally find that the topics are very important and useful for us as potential quantity surveyors because costing is what we do. With these taught to us, we now understand costing calculation methods and how costing would fluctuate taking into account the time value of money.

For this subject, the topic for the individual assignment is based on the topic given at the lecture. For this subject, the topic for the individual assignment is based on the topic given at the lecture. We are require to present the particular topic taught in the lecture in order to understand more about the particular topic and ensure students do their revision after the lecture. I have learnt to think creatively and critically for this assignment. It is true that it required me to think and analysis problem in order to get the most effective solution. After understanding the question, the next significant step was to find sufficient resources. Reading all the resources then extract all information effectively is what I have gained through this assignment as well. I believe that the extra knowledge which I have gained through this assignment is going to be useful for my future.

GROUP ASSIGNMENT

You are part of an established Project Management and Cost Consulting Company in Malaysia. The client is a developer from Singapore and he wants to invest in a piece of land in KL. He has paid for your services to come up with a Cost Appraisal for him.

Your take is to

1. Work out a cost appraise for him based on the information provided .

2. Presentations shall be by power point and a soft copy.

3. You shall illustrate your cost calculations in a 15 minutes presentation plus a 15 min Q&A. As this will be a presentation to the client.