The lecturer will randomly divide students within each tutorial class into 8 groups for the purpose of tutorial presentation. However, students are allowed to do mutual swaps (although this is not encouraged). In week 3, the lecturer will randomly assign a tutorial question to each group for the group to prepare and present.
This module covers the basic principles relating to cost management, with particular emphasis on estimating of items of the work to be undertaken on projects, tendering and cost control. Major topics are quantitative techniques and mathematical calculations in cost analysis, cost planning, approximate estimating and tendering procedures. The principles governing the pricing of items, building up rates for items of work and mathematical calculations of items of work are also covered.
- At the completion of this module students should have an appreciation of the different strategies that can be adopted to help firms win projects.
- They should have a deep understanding of the techniques of estimating, cost planning and tendering.
- They should be able to ascertain the cost of developing a facility, including capital cost and life cycle cost.
- Students should be able to evaluate bids and recommend the most advantageous offer to be accepted.