This unit investigates the principles of design economics applied to buildings and the role of cost planning during design development. Students will be introduced to the principles of cost planning and design economics including various techniques in cost planning, stages of design development, adjustment of building historical prices and accuracy in cost control. Life cycle costing, including the use of discounting in comparative situations, and its importance in the assessment of environmental sustainability will also be discussed.

Unit details

Location:
Study level:
Undergraduate
Credit points:
12
Unit code:
NBC4003

Prerequisites

Nil

Learning Outcomes

On successful completion of this unit, students will be able to:
  1. Critically review the process and procedures of cost planning in the design and construction of buildings and different cost planning techniques in relation to its aims of a cost control system;  
  2. Interpret principles of design economics, forecast building prices and extrapolate historical data in relation to formulating cost plans during early building design stages;  
  3. Formulate cost planning actions in design briefing stage, outline proposal stage, sketch design stage and tender documentation stage to compute elemental cost plan;  
  4. Analyse life cycle cost studies including life cycle costing (LCC) basic principles, methodology of LCC, application of discounting in LCC calculations; and  
  5. Devise collaboratively an appropriate life cycle cost evaluation of case study project including comparing life cycle cost of different design options to client and stakeholders.  

Assessment

Assessment type Description Grade
Assignment Individual Case Study Project (1000 words equivalent) 20%
Project One (1) Group Case Study Project (3000 words equivalent) 40%
Examination Final Examination (2 hours) 40%

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