Building Economics (QSB 3214)

Building Economics (QSB 3214)

Lecturer:  Mr Ho June Khai 

                  Miss Dianne Kok Hui Wen

This module provides an overview of the Quantity Surveyor’s role during the pre-tender stage of a development. The students will be introduced to practical situations of the various methods of controlling the cost of buildings at the design stage. Students also will be introduced to the relationship between building morphology, design variables and life cycle costing of a building. Students are also given the opportunity to learn and apply information technology in the cost planning.

Objectives:

1. To develop students awareness of the nature, content and significance of cost control, cost planning and understanding of the project reams roles in fulfilling client needs.

2. To develop students awareness of the provisions of the effect that design variables have in obtaining an economical design and to appreciate the role of a Quantity Surveyor in pre and post contract stages.

Learning Outcome:

Through the study of this subject,

1) I am able to identify the role and responsibilities of Quantity Surveyors in the overall development process.

2) I am able to match the relationship between cost and design to a value outcome.

3) I am able to explain various methods of pre-tender estimating. 

4) I am able to outline the importance of cost studies to enhance the role of Quantity Surveyor in the development process

5) I am able to implement Elemental Cost Analysis to estimate building cost. 

6) I am able to produce an estimate at pre-tender stage to proposed project and a cost plan based on historical data in group or independently. 

Test 

The mid term test contributes to 20% of the overall marks. This test was conducted on week 8 and tested us mainly on procurement methods and also factors which affects the cost of a building. The test was challenging due to the time constraint.

Assignment

This assignment was to be completed in a group of 6 students and will contribute 30% of the overall marks. The objective of this assignment is to help students develop a deeper appreciation of the concepts learnt in the module by applying them in the problems given in the assignment. 

Group assignment(60%) was involving cost plans where we were given a preliminary estimate and we had to amend this estimate as per clients instructions. After that we had to come up with a preliminary estimate no. 2 which includes the changes requested. This assignment helped us to have an idea on how to prepare and amend cost plans in the future.

Individual assignment(40%) was where we had to give a recommendation to the client on which tenderer would be best suited for the job based on the credentials given to us. Next, we had to advice on whether the client's request for a discount is reasonable or not.