This subject develops the student’s commercial awareness within the Contractors' organization on-site, as well as analyses the likely ramifications of the financial implications of management decisions. It encourages through analytical, numerical, and technical skills as well as through logical thinking, the generation of strategies to maximize both company safeguards as well as commercial gain. This module will encourage the efficient use of resources and sustainable resource management from a commercial perspective.
This module will develop the student’s understanding of, as well as the practical application of financial implications of management decisions on the commercial welfare of the Contractor’s organization.
On successful completion of this module, the student will demonstrate a detailed knowledge of commercial aspects of a building or civil engineering contract. The student will have the ability to highlight areas on the contract where the Construction Manager can work in conjunction with the Project Quantity Surveyor and contribute to a successful financial outcome for the project.
Subcontract Procurement, including the preparation and issue of comprehensive tender documentation, review and report on subcontract tenders and pre-appointment meeting agendas.
Undertake financial feasibility and comparative cost studies, prepare cost benefit reports on alternative methods of construction.
Cashflow Management
Cost value reconciliations balancing income with adjusted equivalent outgoings and analysis of the subsequent contract cost report, turnover, cashflow and profit forecasts.
Compilation of interim valuations to client up to and including final account.
Recording of variations and dayworks and their implications on the financial outcome of the project
Supervision and administration procedures used on construction contracts, with extensive analysis of the cost and time-related clauses.
Construction insurance / Bonds / Collateral warranties / Professional indemnity
Commercial Management
• Subcontract Procurement, including the preparation and issue of comprehensive tender documentation, review and report on subcontract tenders, and pre-appointment meeting agendas including sustainable procurement.• Undertake financial feasibility and comparative cost studies, prepare cost-benefit reports on alternative methods of construction, monitor sustainable development, and explore risk reduction strategies.• Cashflow Management• Cost value reconciliations balancing income with adjusted equivalent outgoings and analysis of the subsequent contract cost report, turnover, cash flow, and profit forecasts.• Compilation of interim valuations to client up to and including the final account.• Recording of variations and day works and their implications on the financial outcome of the project• Supervision and administered procedures used on construction contracts, with extensive analysis of the cost and time-related clauses.• Construction insurance / Bonds / Collateral warranties / Professional indemnity
The focus will be on student active learning and involvement. The teaching strategies that will be utilized will include: lectures, case studies, problem-solving exercises, project work, readings, discussions and debates.
Practical scenarios will be explored using relevant project work. Student presentations in relation to project work will also be utilized. A strong emphasis will be put on practice questions both inside and outside the classroom
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 50 |
| Other Assessment(s) | 50 |