BUILDING ECONOMICS

In this semester, the topics learnt in Building Economics includes Introduction to Building Economics, Concept of Cost Control, Cost Modelling, Design Economics, Cost Analysis & Cost Data, Detailed Cost Planning, Investment Development Appraisal and Whole Life Costing under the guidance of Sr Dianne Kok Hui Wei. Throughout this module, we are able to identify the roles and responsibilities as Quantity Surveyor in conjunction with the cost. It is basically how to achieve a client's requirements within their budget to construct value-for-money project. There are also various methods of the pre-tender estimating learnt in this subject. This module also enables us to produce cost plan and understand more about it through the assignments. We have learnt few formulas such as the present value, future present value and many more. 


This whole module includes a mid term test, an assignment, tutorial presentation, and a final exam which consists of 50%. The mid term test carries 20% of total marks to ensure the progress and knowledge of students. The coursework requires students to work as a team. One week duration was given to us to prepare this assignment. It is indeed a challenging assignment in this semester as it require students to produce a cost plan according to Client's or Architect's requirement, assuming like a real life scenario. We have separate into smaller group with different duties of which some are responsible for the cost plan while the others doing the tender report. We are also required to present the cost plan and explain on questions regarding cost of the overall project.

This is a very good opportunity for students to try and learn more about cost plan and feasibility of the project. Throughout this module we further understood more on our roles as quantity surveyors in the project team and the ways on how to prepare cost plan which is very useful to us in the future.