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Unit of study_

DESC9195: Building Economics

Investors associated with the property industry require at the outset Return On Investment (ROI) evaluations before committing capital. This unit of study examines the economic principles as they apply to buildings, from capital growth and life cycle management perspectives. The focus is on economic and financial practices required for high performing building assets, contract procurement strategies, cash flow analysis, return on investment for retro-fitting, and economic appraisals of existing or new building assets. This unit will develop an understanding of carbon accounting in relation to building management and its importance to sustainable built asset portfolios. The unit, taught by case studies, will equip students with an understanding of economic principles and professional tools necessary for the procurement and management of real estate property, facilities and buildings at optimum economic and environmental performance.

Code DESC9195
Academic unit Architectural and Design Science
Credit points 6

At the completion of this unit, you should be able to:

  • LO1. Undertake a physical survey of a working facility or built asset to develop an economic understanding of infrastructure and operations;
  • LO2. Demonstrate economic due diligence of built assets and life cycle operations;
  • LO3. Conduct a simple economic appraisal of a built asset or facility;
  • LO4. Demonstrate an understanding of complex operational, contractual and procurement cost data and apply these in qualitative and quantitative evaluations and analysis;
  • LO5. Demonstrate understanding of key principles of life cycle cost planning and management;
  • LO6. Apply life cycle cost management skills for strategic building operations, including investment analysis and business/financial return propositions;
  • LO7. Demonstrate understanding of the principles of contract management and procurement for built assets and property infrastructure;
  • LO8. Plan, prepare and analyse economic reports and present (built assets) project outcomes to key stakeholders;
  • LO9. Work as a team (group work) to efficiently manage project objectives, resources and deliverable for built assets or portfolio of assets.