Construction Economics (5cr)

Evaluation scale

0-5

Objective

Purpose of the course:
You will be able to explain the roles, responsibilities and tasks of the different parties involved in a construction project in different types of projects. You will know the main contents of contract law in construction projects and the basics of planning for the implementation of a project. You will also be able to explain the principles of business management, taking into account life-cycle thinking and the basics of property management.

Course competences:
Knowledge and understanding: knowledge and understanding of the engineering sciences underlying your specialisation at the level required to achieve the other learning outcomes of the programme, including an understanding of the future requirements in your field.
Communication and teamwork: the ability to communicate effectively about information, ideas, problems and solutions within the engineering community.
Interdisciplinary skills: awareness of economic, organisational and managerial aspects in an industrial and business context.
Practical application of technology: the ability to identify, formulate and solve complex problems, with the ability to select and have the practical skills to apply well-established analytical, computational and experimental techniques and methods appropriate to the situation.

Course objective:
To know the phases of a construction project, the parties involved in the project and their roles. You will know the roles of the parties involved in the different phases of a construction project, the contract and collective agreements for a construction project, costing and its influencing factors and the levels of production control in a construction project. You will be familiar with property management as a whole.

Content

The phases of a construction project, the parties and tasks involved, the general terms and conditions of a construction contract, the different nomenclature systems and the production management of a construction project.
Financial ratios of the company, planning and monitoring of finances and investments and marketing of the company.
Basics of safety, health and maintenance of buildings.

Location and time

Contact lessons according to Time Table on the Main Campus.

Materials

Johdatus rakentamistalouteen: Vuorela, Urpola, Kankainen. 2001
Rakennuttaminen: Kankainen, Junnonen. 2017 tai uudempi
Rakennushankkeen ajallinen suunnittelu ja ohjaus (Ratu KI-6031). Rakennustieto Oy. 2017
Rakennushankkeen kustannushallinta (Ratu KI-6033). Rakennustieto. 2018
Rakennustöiden laatu RTL 2017 (Ratu KI-6029), Rakennustieto. 2016.

The material related to property management will be announced at the beginning of the course.

Teaching methods

The course uses the following teaching methods:
- Lectures
- Exercises / Learning tasks,

Students will receive guidance
- feedback on assignments
- feedback on exams

Employer connections

Company visits at School if possible.

Exam schedules

Timing of Exams and re-Exams will be agreed on the first contact lesson of the course.
The course entrance exam/task must be taken within three ( 3 ) weeks of the course start date in order to maintain the right to study.

Completion alternatives

Certification or accreditation is possible as described in the Jamkin Peppi guidelines.

Student workload

One credit point means an average of 27 hours of work. The load is distributed in different ways depending on the way the course is implemented.
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In this study period, time use and workload is distributed as follows:
Total load: 135 h
Contact lectures: 42 h
Homework that supports learning: 91 h
Assessment of own competence/peer assessment: 2 h
Allocate approx. 9-12 hrs/week of your own time for this course.

Assessment criteria, satisfactory (1)

Intermediate (1): The student knows and recognises the issues described in the learning outcomes of the course and is able to perform the tasks described in the learning outcomes of the course: phases of a construction project, project parties and tasks, general terms and conditions of construction contracts, different nomenclature systems and preliminary construction project production management. Financial ratios of a company, planning and monitoring of finances and investments and marketing of the company. Basics of safety, health and maintenance of buildings. Students can demonstrate their competences by reading the topics related to the objectives.
Students can demonstrate their competence by carrying out tasks related to the objectives.

Satisfactory (2): The student knows, identifies and understands the issues described in the learning objectives of the course. The student can demonstrate competence by describing the topics covered in the course in a systematic way.

Assessment criteria, good (3)

Good (3): the student has achieved the learning objectives of the course and is able to demonstrate his/her knowledge in a clear and understandable way. The student is able to articulate the learning in a clear and concise manner and to apply it to practical tasks.

Excellent (4). The student is able to describe the effects of different solutions and to make informed choices between alternatives.

Assessment criteria, excellent (5)

Excellent (5): the student has achieved the learning objectives of the course with excellent results. In addition, the student is able to examine the topics of the course theoretically and apply them critically in practice. Competence is demonstrated in a coherent and multidimensional manner.

Qualifications

Competences of the course Fundamentals of Building Construction.

Further information

Grading methods
- Test,

Assessment is developmental, continuous, competency-based, high-quality and criterion-referenced, and student self-assessment plays an important role in that.

See also Grading