QUSU07022 2019 Project Feasibility and Appraisal

General Details

Full Title
Project Feasibility and Appraisal
Transcript Title
Project Feasibility and Apprai
N/A %
Subject Area
QUSU - Quantity Surveying
CENG - Civil Eng. and Construction
07 - NFQ Level 7
05 - 05 Credits
Start Term
2019 - Full Academic Year 2019-20
End Term
9999 - The End of Time
Owen Feeney, Daniel Clark Hagan
Programme Membership
SG_CCONS_J07 201900 Bachelor of Science in Construction in Construction Management SG_SCONS_N07 202000 Certificate in Science in Construction Site Management

This module gives the learner an overview of project appraisal and its use in the construction industry. It examines the critical process of decision-making and its position in the project planning process. This module will introduce the student to various methods used for engineering project feasibility and appraisal, with particular emphasis on; Net Present worth, Equivalent Annual Worth and Minimum Rate of Return techniques.

Learning Outcomes

On completion of this module the learner will/should be able to;


Assess, recognise and demonstrate an appreciation of the role that project appraisal plays in the construction sector.


Appraise the various decision-making models and evaluate their use in the construction industry.


Evaluate the project planning process relative to the construction industry.


Identify, then compare and contrast, different methods for engineering project appraisal and make recommendations on their use.


Demonstrate a knowledge of analysing, evaluating and apprising of proposed project options by using the main economic appraisal techniques.

Teaching and Learning Strategies

This module will be delivered using blended learning techniques.

This will include online lectures (via adobe connect or similar), workshops and work based learning where relevant along with guest lectures and augmented by independent learning and directed learning.
This approach is expected to address student learning needs.
Moodle will be used to upload educational material (i.e. presentations and recordings of online lectures plus supplementary reading material and additional resources).
Moodle will also be further used as a means of assessment, utilising online quizzes, for the uploading of assignments and reports.
This multi-faceted, blended approach of; lectures, workshops and online resources fosters collaborative student learning.

Module Assessment Strategies

The Module will be assessed using a combination of end of semester final exam (70%), continuous assessment and course work (30%).
The continuous assessment and course work will involve one assignment where students will be required to;
Carry out an economic investment appraisal of a relevant construction project / plant and discuss the relevant factors or criteria that should be used in evaluating its viability.

Repeat Assessments

Repeat Continuous Assessment and/or Final Exam.

Indicative Syllabus

Project Appraisal

Project Feasibility

The Decision-making Process

The Project Planning Process

Methods for Engineering project appraisal

Tools for economic appraisal

Present worth evaluation

Equivalent annual worth

Minimum Rate of Return

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
30 %
End of Semester / Year Formal Exam
70 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Economic Investment Appraisal Continuous Assessment Individual Project 30 % OnGoing 2,4,5

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Exam Final Exam Closed Book Exam 70 % End of Semester 1,2,3,4,5

Online Learning Mode Workload

Type Location Description Hours Frequency Avg Workload
Online Lecture Distance Learning Suite On line Lecture 1 Weekly 1.00
Independent Learning Not Specified Self Directed Learning 5 Weekly 5.00
Total Online Learning Average Weekly Learner Contact Time 1.00 Hours

Required & Recommended Book List

Required Reading
2001-07-24 Engineering Project Appraisal Wiley-Blackwell
ISBN 0632056061 ISBN-13 9780632056064

Today, practicing engineers need to understand the economic, environmental and social contexts of a development project and be able to resolve problems that arise in these areas. Accredited professional engineering courses (including SARTOR approved courses) now require students to develop an awareness of the economic, financial, social and environmental factors of a development project, along with an understanding of risk analysis and quality systems. Therefore, to be successful, engineering projects must be properly planned and those plans assessed and evaluated on their merits. This book provides details on the evaluation techniques required to assess project plans, and information on both economic and non-economic methods of project appraisal. Working examples and case studies are given to illustrate the applicability of each set of techniques. Engineering Project Appraisal will prove an invaluable and informative guide for both students and practitioners involved in the area of engineering project planning.

Required Reading
2009-02-09 Construction Planning, Programming and Control Wiley-Blackwell
ISBN 1405183802 ISBN-13 9781405183802

This book offers a clear explanation of the principles and practice of construction planning, programming and control during the preparation and construction stages of a project. The book is written in the context of current procurement and contractual arrangements and JCT2005, NEC3 and ICE7 contracts are covered. The statutory framework within which construction projects must be managed is explained and the topic of construction hazard and risk is covered in detail. A variety of programming techniques are explained and the development of safe construction sequences and methods is particularly emphasised. The control of time, money and resources are considered in a risk management context and a complete chapter is devoted to cash flow. The third edition has been extensively updated and extended to include new materials on: * Hazard identification * Risk assessment * Health and safety management * CDM 2007 * Construction sequences and method statements * Delay analysis * Waste management and Site Waste Management Plans The final three chapters are devoted to individual case studies which have been selected to illustrate the practical application of the principles explained in the book and to provide examples of current procedures adopted by major contractors. The content is designed to provide a clear and comprehensive text for undergraduates on construction management, surveying and civil engineering degree courses.

Required Reading
2005 Project Management Financial Times/Prentice Hall
ISBN IND:30000100589625

Combining a strong academic approach with relevant practical cases, this text skilfully shows the range of issues that face project managers throughout the project cycle. Harvey Maylor considers projects as being a core business activity and approaches the subject from a strategic perspective, covering both the role of projects in the execution of organisational strategy and the application of strategic principles in projects. "Classic features: " Covers a wide range of project settings, from traditional large-scale industrial projects through to small-scale personal projects, in both service and manufacturing settings Each chapter contains examples of 'Project Management in Practice' as well as case studies, discussion questions and exercises to help you check your understanding This new Media Edition comes with a free CD Rom containing a 60-day evaluation version of Microsoft Office Project Professional 2003 to help familiarise you with the most commonly used project management software. "Project Management" is used extensively to accompany courses on undergraduate, masters and MBA programmes, as well as for in-company training and for professionals wanting to bring themselves up-to-date with developments in the field. Extra teaching materials are available online for lecturers at http: //www.booksites.net/maylor. Dr Harvey Maylor is Lecturer in Operations and Project Management at the University of Bath School of Management. He is also a consultant and trainer in the area of Project Management, and has received funding for his research from industry, government, the European Commission, and most recently, the Project Management Institute. 'For all involved in projects, it's a book that needs to be on your bookshelf, but better in your hand'. "Bob Saunders, Open University and Association for Project Management." 'A thorough introduction to project management. Highly recommended for use as an introductory course text'. "Paul Walley, Lecturer in Operations Management, Warwick Business School." 'A useful introduction to the subject for students, as it indicates the complexity of the subject and its importance in a wide range of industries'. "Prof J.H.Rogerson, Dean of Engineering, Science and Manufacturing, Cranfield University"

Required Reading
1988 The Economics of the Construction Industry B. T. Batsford Limited
ISBN 071345038X ISBN-13 9780713450385

This is a textbook analyzing the economics of the construction industry and its relation to the UK economy as a whole. It includes an analysis of the economics of the individual company and the theory of the firm, the economics of supply and demand, the nature of construction markets and the economics of supplying these markets. An analysis of the investment decisions which determine demand then introduces the principles of cost-benefit analysis and financial control. The final chapter examines the factors which influence productivity within both the individual firm and the sector as a whole.

Required Reading
2009 Quantity Surveyor's Pocket Book Routledge
ISBN 9780750687461 ISBN-13 0750687460

The Quantity Surveyor's Pocket Book outlines all the practical skills, contractual and management techniques needed by a student studying quantity surveying in a handy-sized format for quick reference. Arming you with a complete toolbox to each project stage, this book brings together both the measurement and consultancy aspect of QS in a compact pocket book. Covering material key topics such as forecasting, measurement, estimation and contracts in the order it arises in a typical surveying project cycle ensures understanding of key processes and techniques, as well as when and how to use them. Recommended forms for reports, cost plans, final accounts and financial statements are also covered. A no-nonsense how-to approach makes this book an ideal companion to any course textbook. Perfect if you are on a quantity surveying degree, HNC/HND or 1-2 year post-graduate conversion course and require a simple guide to fundamental quantity surveying skills and procedures, also ideal if you are newly-qualified and need an on-site/on-the-job reference. This is a concise, affordable pocketbook bringing together practical, contractual and management techniques. It Covers skills and processes needed at each stage of a project and is ideal if you have just qualified as a quantity surveyor and need an on-site/on-the-job reference. *A concise, affordable pocketbook bringing together practical, contractual and management techniques *Covers skills and processes needed each stage in a project *Ideal if you have just qualified quantity surveyors and need an on-site/on-the-job reference.

Required Reading
1999 Property and Construction Economics Cengage Learning Business Press
ISBN 1861521588 ISBN-13 9781861521583

This text is written specifically for students taking undergraduate courses in real estate, surveying and construction. Presenting the topics in a real world setting, it provides an introduction to basic economic theory in a form specifically relevant to those courses. Each chapter adopts a triple approach; looking first at economic theory, then application to the real estate market followed by application to the construction industry.

Required Reading
1992 Economics for Construction and Property Hodder Education
ISBN 0340563591 ISBN-13 9780340563595

Designed to be of interest to students of construction, building and civil engineering who need to understand how economic factors affect their industry. Diagrams, self-assessment and question-and-answer sections help the reader understand the text.

Module Resources

Non ISBN Literary Resources

See Book list

Journal Resources

Construction Management and Economics

Journal of Construction Engineering and Management

International Journal of Project Management

Journal of Management in Engineering