|12242019||Faculty of Engineering, Built Environment and Information Technology||Department: Construction Economics|
|Minimum duration of study: 1 year||Total credits: 127||NQF level: 08|
Refer also to G16-G29.
The successful completion of the compulsory work-based component is a requirement by the professional bodies, the South African Council for the Project and Construction Management Professions (SACPCMP) the Royal Institution of Chartered Surveyors (RICS) and The South African Council for the Quantity Surveying Profession (SACQSP). The module CWE 700 comprises a minimum of 240 hours of temporary employment with a suitable employer in the construction industry/built environment (registered quantity surveyor, contractor, developer, property owner, etc), As proof of the practical experience the student must submit an approved logbook signed by the employer.
Note: An equivalent qualification is regarded as one that the South African Council for the Quantity Surveying Profession regards as acceptable for registration as a candidate quantity surveyor and for eventual registration as a professional property valuer where applicable.
Selection is based on an applicant's academic record and experience. Applicants may be required to attend an interview and/or write an entrance examination.
A minimum semester/year mark of 40% is required in order to be admitted to the examination in a specific module. In addition, all other examination admission requirements, applicable to the relevant module, must have been met. To pass a module a final mark of 50% is required.
No supplementary examinations are granted at postgraduate level.
No special examinations are granted at postgraduate level.
The degree is awarded when all prescribed modules have been passed.
The degree is conferred with distinction if students registered for the degree for the first time, complete the degree within the minimum prescribed time and pass all modules with a weighted average of 75% (not rounded).
Minimum credits: 127
This is a compulsory 240-hour work experience module that requires the submission of a signed logbook to record and confirm the hours worked in the construction industry.
Valuation of income-producing properties, valuation of leasehold interests, valuation for insurance purposes, land with development potential, mass valuations and the valuation report. Expropriation: the legislation; the process; compensation; methods of valuation. Influence of re-zoning on value; valuation of farmland; usually non-negotiable properties; large shopping centres; air space; interest in time-share; leasehold interests; retirement villages; mining rights. Valuation of properties classified as “special” in terms of function, design, construction, or location: market/non-market properties; market and marketability analysis, the influence of location on the marketability and cost of ownership of property, different location modules. Compiling and writing a valuation report.
A research report on a subject approved by the Head of Department has to be completed during the final year of study.
Financial viability studies of different types of property developments; value management and life-cycle costing.
Advanced practical demonstration of property development with the aim to develop an understanding of the management of building design and construction. In includes general contracting, feasibilities, shareholders, green development principles, architectural design, specification of operating systems, upgrade programmes, estimating, preparation of contract, drawings and specifications, preparation of tender packages, tendering concept of marketing, marketing management; marketing management philosophies, marketing of residential properties; marketing of commercial and industrial properties. The purpose of the development manager. Commercial investment and property finance. SPW's and ownership entities.
An introduction to facilities management including the following: management of different types of facilities and portfolios of assets. Principles of outsourcing and the outsourcing decision. Contractual relationships in facilities- and asset management; management of building operations; operation of building operating systems; building maintenance and repairs; cleaning services; cost control and financial reporting. The service level agreement. Office facility planning: determining workplace area standards; specifying common facilities; programming short- and long-terms office space needs; maintaining the office space inventory; and space allocation to individuals and user-groups. Strategic property/asset management. Relocation, maintenance management and life cycle costing; energy management, environmental issues. Outsourcing.
Modern portfolio theory: portfolio risk and return; applied portfolio theory; index models; portfolio construction. Property Portfolio: compiling an efficient property portfolio; MSCI/IPD and property data sources; trading properties; diversification strategies. The property component of institutional investor portfolios; the property listed sector. Asset management.
Entrepreneurship, strategic management, business ethics, effective business management. Attention is paid to the built environment practitioner in this context.
Application and terms of CIDB endorsed standard construction contracts such as GCC, NEC and FIDIC; case studies. Alternative dispute resolution: mediation, adjudication and arbitration; litigation - an overview; law of delict; negligence and damage to property.
Fundamentals to project management in the building and property industry. Key processes, knowledge areas and techniques are covered.
Introduction to scientific research. Planning and preparation of a research proposal with implementation of research methodologies.
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