Subject Overview

An advanced postgraduate study of construction management and cost estimation for real estate projects. The subject integrates construction technology, planning, estimating, procurement, contracts, cost control, risk, quality, safety, sustainability, digital systems, AI-enabled analytics, governance and strategic decision-making across the project life cycle.

Learning Goal

Enable students to plan, estimate, procure, monitor and govern construction projects; evaluate cost, time, quality, safety and sustainability trade-offs; use contemporary analytical and digital tools; and make ethical, evidence-based managerial decisions in dynamic real estate environments.

Syllabus

1. Construction Industry and Project Management Foundations

Learning Objective: Explain construction sectors, project stakeholders, delivery life cycles, organizational structures, managerial roles, terminology and the relationships among scope, time, cost, quality, risk and value.

Category: foundation

2. Construction Systems, Methods and Site Operations

Learning Objective: Evaluate building systems, materials, construction methods, temporary works, equipment, labor productivity, site layout, logistics and constructability for different real estate asset classes.

Category: foundation

3. Scope Definition, Work Breakdown and Information Management

Learning Objective: Translate client requirements, drawings, specifications and BIM information into scope statements, work breakdown structures, work packages, responsibility matrices and controlled project documentation.

Category: core

4. Quantity Take-Off, Measurement and Bills of Quantities

Learning Objective: Apply measurement standards to extract quantities from drawings and digital models; prepare abstracts, schedules and bills of quantities; and manage assumptions, omissions and measurement risk.

Category: core

5. Construction Cost Estimation and Rate Analysis

Learning Objective: Develop conceptual, approximate and detailed estimates using unit-rate, elemental, parametric and analogous methods; analyze labor, material, equipment, overhead, profit, taxes, escalation and contingencies.

Category: core

6. Feasibility, Budgeting and Life-Cycle Cost Analysis

Learning Objective: Prepare project budgets and cash-flow forecasts; assess affordability and funding needs; and use discounted cash flow, life-cycle costing, sensitivity analysis and value engineering to support investment decisions.

Category: application

7. Construction Planning, Scheduling and Resource Optimization

Learning Objective: Create and analyze bar charts, network models, CPM and PERT schedules; allocate and level resources; optimize sequencing; assess schedule risk; and manage milestones, buffers and project acceleration.

Category: core

8. Procurement Strategy, Tendering and Contract Administration

Learning Objective: Compare delivery and procurement models; prepare tender documents; conduct bid evaluation and negotiation; administer contracts, payments, securities, variations, claims and dispute-resolution mechanisms.

Category: strategic

9. Project Cost Control and Performance Analytics

Learning Objective: Establish cost baselines and control accounts; monitor commitments, expenditure and forecasts; apply earned value management, variance analysis, productivity metrics, dashboards and estimate-at-completion techniques.

Category: application

10. Risk, Uncertainty and Construction Decision-Making

Learning Objective: Identify and quantify technical, commercial, financial, regulatory and supply-chain risks using risk registers, probability-impact analysis, decision trees, Monte Carlo simulation and scenario analysis; formulate response strategies.

Category: advanced

11. Quality, Safety, Environmental and Regulatory Management

Learning Objective: Design integrated plans for quality assurance and control, inspections, occupational health and safety, environmental protection, building-code compliance, permits, audits and continuous improvement.

Category: core

12. Sustainable Construction and Whole-Life Value

Learning Objective: Evaluate green materials, embodied and operational carbon, energy and water efficiency, circular construction, waste reduction, climate resilience, certification systems and ESG requirements while balancing whole-life value.

Category: contemporary

13. BIM, Digital Construction, Data Analytics and AI

Learning Objective: Assess BIM-based estimating and 4D/5D planning, common data environments, digital twins, drones, IoT, reality capture, mobile platforms and AI applications for forecasting, risk detection and productivity, including interoperability, cybersecurity and data governance.

Category: contemporary

14. Leadership, Ethics, Governance and Strategic Project Control

Learning Objective: Lead multidisciplinary teams and stakeholders; establish governance, reporting and assurance systems; manage conflicts and change; prevent fraud, collusion and cost manipulation; and critically evaluate contemporary trends such as modular construction, automation and smart assets.

Category: strategic