This subject deals with a number of areas relating to financial evaluation and tendering for construction work. It includes a range of topics relevant to aspects of the financial management of development and construction projects including assessment of project feasibility, estimating procedures for complex work, tendering procedures and tender preparation, determination of margins for profit and overheads, bidding strategies, and taxation issues relevant to the construction industry.
|Academic unit:||Faculty of Society & Design|
|Subject title:||Construction Tendering and Finance|
Delivery & attendance
|Attendance and learning activities:||Attend all sessions. Most sessions build on the work on the previous one. It is difficult to recover if you miss a session. Attendance in tutorial sessions will be monitored, and could impact the final mark in this subject.|
|Prescribed resources:|| |
|[email protected] & Email:||[email protected] is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student.|
To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au
|Restrictions: ?|| This subject is not available to|
Assurance of learning
Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.
At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.
Program Learning Outcomes (PLOs)
Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.
Subject Learning Outcomes (SLOs)
On successful completion of this subject the learner will be able to:
- Identify the components of construction and development costs, both direct and indirect
- Analyse and synthese the composite rates for typical building work
- Analyse and derive mark-ups that cover general and job-specific overheads and profit
- Perform an in-depth appraisal of typical tendering processes and procedures and have a general awareness of various statistical methods and bidding theories that may be used in tendering
- Characterise typical financing arrangements for large construction projects and provide preliminary advice to clients on these arrangements.
- Recognise taxation issues relevant to construction estimating and finance.
|Essay||Assignment 1||10%||Week 3||2.|
|Paper-based Examination (Closed)||Mid-Semester Exam||30%||Mid-Semester Examination Period||1, 2.|
|Essay||Assignment 2||10%||Week 11||4.|
|Paper-based Examination (Closed)||Final Exam||50%||Final Examination Period||1, 2, 3, 4, 5, 6.|
Students must score at least 50% in the exam as well as achieving an aggregarte score of at least 50% in order to pass this subject.
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
|High Distinction||85-100||Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking.|
|Distinction||75-84||Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas.|
|Credit||65-74||Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above.|
|Pass||50-64||Usually awarded to students whose performance meets the requirements set for work provided for assessment.|
|Fail||0-49||Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines.|
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Students must check the [email protected] subject site for detailed assessment information and submission procedures.
Policy on late submission and extensions
A late penalty will be applied to all overdue assessment tasks unless an extension is granted by the subject coordinator. The standard penalty will be 10% of marks awarded to that assessment per day late with no assessment to be accepted seven days after the due date. Where a student is granted an extension, the penalty of 10% per day late starts from the new due date.
Policy on plagiarism
University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.
Feedback on assessment
Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.
If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.
Subject scope, building costs, analysing and deriving unit rates
Overview of tender price breakdown, direct costs (labour, materials, plant, sub-contractors), indirect costs
Sources of finance for construction projects, financial instruments
Cashflows, earned value analysis
Accounting for profit and overheads
Deciding the optimum mark-up
Deciding the unit prices for each item