BGN372 Building Economics UITM Assignment Sample Malaysia
BGN372 Building Economics course is an invaluable asset for anyone wanting to extend their knowledge beyond the basics of architectural design and planning. The program provides a comprehensive understanding of the economics behind building and development projects, enabling students to accurately assess project feasibility and develop strategies that ensure maximum returns.
Through in-depth lectures and tutorials, it covers topics such as construction costs, finance and investment, green building technologies, tax considerations and public sector development. Comprehensive assignments allow students to gain hands-on experience in creating financial models and analyzing existing developments. By completing this course, students will have obtained a set of valuable skills that can be applied to most areas of real estate development.
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In this topical discussion, we will analyze a few of the tasks associated with an assignment. Specifically:
Assignment Task 1: Apply the theories and appropriate methods of estimating to construction development processes in building economics.
Estimations play an integral role in processes related to construction development and building economics. Different theories and methods can be implemented to refine estimations, ensuring accuracy throughout the project timeline. From adjusting pricing estimates to account for emerging trends in the construction market, utilizing these theories and methods helps support better decision-making which leads to more successful projects.
Risk management, budgeting, and cost efficiency all benefit from the application of these estimation tools. Ultimately, effective use of theories and appropriate methods of estimating has the potential to positively affect results across a wide range of building economics operations.
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Assignment Task 2: Propose the feasibility study on the project cost efficiency to provide the best entrepreneur and business decision.
A detailed feasibility study conducted on a project’s cost efficiency can make all the difference between an entrepreneur or business decision that is successful and one that falls short of expectations. An effective cost-efficiency analysis should consider all resources required to complete the project, including labor, materials and services. Additionally, the results of such an analysis should be used to recommend strategies to reduce costs without negatively impacting the intended outcome. When executed properly, a thorough feasibility study has the potential to highlight ways for businesses to save money while improving their performance and returns on investment.
Assignment Task 3: Report in writing the economic factors that need to be considered in building construction.
Building construction can be an expensive undertaking, so it is important for companies and individuals to consider the economic factors involved before committing to a project. Careful research is essential in determining the availability of building materials in both quality and quantity, their sources, cost, transportation and labor costs associated with the project.
It’s also important to weigh the potential return on investment against any potential tax benefits that come with building construction. Additionally, thought should be given to mitigating any risk posed by changes in the market or unforeseen expenses due to hidden damages that may arise during the course of the construction. Taking these economic factors into account can go a long way towards ensuring a successful construction project.
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