Building Economics (QSB3214)

Building Economics is concerned with all economic aspects of construction projects – from planning, design and implementation to the completion. It concerned with the study of man's needs in connection with shelter and the suitable and appropriate conditions in which to live. 

Building Economics is hugely relevant with cost such as whole life-cycle costs, running costs, cost analysis, cost planning etc. Through this module, I have learn the concept of cost control with how to provide the client a value-for-money project. I found the calculation part in lecture 7 difficult as there are many types of formula and the question is complicated. I should put more effort on the calculation part.

We are assigned a coursework which divided in group assignment and individual assignment. The group assignment is form by 6 students. The task is to update the cost plan and provide comments based on the pricing of the elements in tender submission. While the individual assignment is to give recommendation to award the tender in tender report. Through this assignment, I have learn to consider the tender to be selected by observing their position, paid up capital, working experience and current job. 

Financial Mangement (QSB3413)

This module aims to cover the basic building blocks of financial that are of primary concern to corporate managers, and all the considerations needed to make financial decisions both inside and outside firms. This course also builds on the concept of net present value and addresses capital budgeting aspects of investment decisions. This course also introduces the theory and practice of financing and dividend decisions, cash and working capital management and risk management.

By the end of this course, I came out with some learning outcome which is able to describe how different financial markets function and estimate the value of different financial instruments (including stocks and bonds).I also learn to make capital budgeting decisions under both certainty and uncertainty. Furthermore, we also begin with a revision of investment appraisal techniques. The main focus of this chapter is to examine the advantages of using the discounted cash flow technique and its application in complex investment scenarios.

Studying this course provide me with an overview of the problems facing a financial manager in the commercial world.

Measurement 5 (QSB3114)

This module lecture by 2 lecturers who are Mr Simon Chee and Mr Ramar. Mr Ramar will cover the measurement of electrical installation, cold water installation, sanitary installation, fire protection installation, and air condition installation. While Mr Chee will lecture the measurement of soil investigation, demolition and earthwork, geotechnical works.

The measurement module of this sem is different with previous sem as it will more focus on M&E works. The purpose of M&E measurement are to determine element and components that involved to the M & E works, to measure according to the latest standard method of measurement SMM2, to protect the interest of the client and the contractor, the information derived from a priced BQ to aid the construction planning networks and a tool for cost control in mechanical and electrical services.

Traditionally, much of M&E Works was included in BQs as prime cost sums. This is because the M&E Engineers often failed to provide the appropriate details in time for quantification purposes. Contractors often preferred to offer lump sum quotations on the basis of drawing and specification only. This make the clients realised that this approach was not very satisfactory in determining where the actual costs for this work are being expended. Thus, QS is needed to provide an accurate cost control function for only part of building project is unsatisfactory. The M&E Works is more extensive and expensive and its costs, value and cost control must be as accurate as the methods applied on the remainder of the construction project. Mr Ramar always tell us that QS must be more familiar with building services in their science, technology, terminology, in order to quantify engineering drawing correctly. 

The subject makes me familiar with how a QS working with building services. 

Professional Practice 2 (QSB 3614)

This module was on studying the proficient and contractual obligations of a quantity surveyor in the consultant group from the commencement stage to the final account stage.It will focus on the importance of a clear understanding of the organization and administration of quantity surveyor practices and the legal and contractual procedures in relation to built environment.

We have assigned 2 coursework in this subjects. Coursework 1 is in a form of seminar. The seminar will carried out by 2 students during every tutorial session. Each seminar group will be given a topic and make a presentation. I'm the first group which partner with Matthew and the title of our presentation was ''Construction Disputes with Interim Certificate''. While coursework 2 is where the students will form a group  to act as consultants assessing a contractor's application for final account. We form a group with 6 students and the task we need to do is explain the essential elements of final account, preparing the final account and Statement of Account. 

Through the lecture and tutorial, I come out with some learning outcome which is to define the roles and responsibilities of the various parties involved in construction contracts. For example in chapter 2, i learn about the delay and dispute cause by contractor and employer. Both parties have responsibility when delays occur. Secondly, i found that there is limitations and constraints in the various construction contract. For example in chapter 3, the contractor's entitlement to loss and expense claim is limited under one clause and no more. Lastly, i discovered that teamwork in construction contracts is very important.

Personal Information

Name : Lee Jia Yan

Student ID : 1001P76941

Course : Bachelor of Quantity Surveying

Semester : 5 (August 2013)

Age : 22 years old

Gender : Female

Nationality : Malaysian

Email address : janetlee915@hotmail.com