This module is designed to provide you with a comprehensive understanding of the macroeconomic factors that influence the construction industry and the innovative practices that drive its growth and sustainability. You'll start by exploring the macroeconomic overview of the national economy, focusing on the five significant components: banks, households, government, firms, and the external sector. You'll learn how each of these components plays a crucial role in ensuring economic growth. However, the focus will be on the firm which is described as the construction industry in this module. You'll explore the role of the construction industry in driving other components of the macroeconomy.Additionally, you will delve into economic models of urban location and growth, learning about urban land economics and the theories that support urban development. You will examine the economic challenges that arise from construction activities in urban areas, providing you with insights into the economic aspects of urban problems caused by the construction industry. Furthermore, you'll explore the innovative practices adopted by construction firms to overcome urban economic challenges. You'll learn about balancing cost and value in construction projects, covering principles such as developers' budgets, whole-life costing, cost geometry, and value management. Also, you will explore how technologies driven by the Fourth Industrial Revolution are utilised by construction firms to reduce costs and enhance the value of their projects.Throughout this module, you'll engage in interactive lectures, group discussions, and hands-on projects designed to stimulate critical thinking and collaboration. By the end of the module, you'll have a solid foundation in macroeconomic principles as they relate to the construction industry, urban economic models, and innovative construction practices, preparing you for a successful career in the construction industry.
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“The Dissertation module is a substantial piece of independent work executed within the traditions of scholarship and research characteristic of a particular discipline. Students will learn various research skills which will then be applied to their own chosen research topics. This will include developing a research proposal, conducting literature reviews, research methodology, designing a research strategy, data gathering, data presentation, data analysis, and the writing up of the dissertation.”
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The module content covers aspects of Identifying and analysing client objectives and project requirements, Aligning client objectives (e.g., cost-efficiency, timeline, quality, risk) with procurement strategies, Overview of procurement systems: traditional (Design-Bid-Build), Design and Build, Construction Management, Management Contracting, Partnering: Key features, advantages, and limitations of each system Criteria for choosing appropriate procurement systems based on project scope, complexity, and client priorities, Steps in creating procurement solutions that align with specific project needs, Factors impacting procurement decisions: project size, budget, timeline, quality requirements, regulatory compliance, Crafting flexible procurement solutions to accommodate unique project conditions, Analysis of traditional vs. modern procurement methods ,Relative effectiveness of modern procurement methods in meeting project objectives, Short- and long-term impacts of adopting modern approaches, Overview of standard construction contracts ,Key components and structures of each contract type, Suitability of contract types for different projects, Detailed analysis of contract documentation, Understanding principal features, obligations, and key clauses in construction contracts, time management provisions in contracts, Cost-related clause, Quality assurance terms, Identifying and allocating risks in construction contracts.
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In the Production Management module the following subjects will be covered:- Production management; Improving the performance of construction; Human resources in construction management; Plant and equipment for production; Subcontractors in construction; Materials management in construction; UK construction production issues; Construction as a manufacturing process; the role of construction scheduling in production performance and Building Information Modelling.
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This module equips you with the knowledge and skills to appraise and finance projects effectively, exploring the project life cycle from the feasibility stage to financial closure. Also, it will provide you with an indepth understanding of economic appraisal techniques, project finance instruments, and the role of financial institutions in domestic and international markets.The module is structured around two key areas. First, you will explore project appraisal techniques and learn how to evaluate construction projects using methods like the Discounted Cashflow Techniques, Capital Asset Pricing Model and Cost-Benefit Analysis. You will understand how to assess project feasibility, calculate required rates of return, and consider environmental impacts in your decision-making process. More so, you will also understand how to identify, evaluate, and mitigate risks associated with construction projects. This knowledge will enable you to make well-reasoned recommendations about project investments.Moreover, in relation to project finance, this module will provide you with practical insights into how construction projects are funded in both domestic and international markets. Also, you will explore a range of financial instruments, such as bonds, syndicated loans, and derivative products. You will also examine real-world applications through case studies focused on infrastructure projects in both emerging markets and developed economies.The knowledge and skills you develop will be directly applicable to real-world situations, which will prepare you for roles in project management, financial analysis, and investment decision-making within the construction sector. Whether you aim to work in project development, financial institutions, or consultancy, this module will provide you with the analytical skills and financial knowledge needed to evaluate and finance major construction projects.
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This module introduces the subject of project management in construction and provides a foundation for the other modules in the MSc Construction Project Management Programme. The subjects addressed include: The nature of projects and of project management; the Project Management function and the duties and skills of the Project Manager; The construction client; The project team; Power, politics, authority and influence in Project Management; Defining the project and determining work content; Introduction to project programming; Network analysis; Advanced network analysis and Maintaining control.
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The aim of this module is to provide an overview of the risk management methodologies as well as an advanced understanding of the techniques used in risk management and analysis of construction projects in UK and worldwide (where applicable). The module introduces various risk analysis techniques applicable in construction-related businesses. On completion of the module, you are expected to have an improved knowledge on the following: - Principles and methodology of risk management - Decision analysis, evaluation and methods for Risks and Uncertainties - Theory on types of risks and the rational approaches to managing risks in national and international projects- Application of Utility Theory to construction and other projects- The Health and Safety Risks in Construction projects and advances in relevant legislation and regulations.
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