KA5056 - Commercial Management

You will learn through engaging with a series of lectures, practical classes and workshops as well as guided independent learning. The lectures will cover the principles and application of theory relating to the commercial management of construction firms as well as individual projects. You will also be assigned tutor-guided independent learning materials in the form of case studies, industry reports and research papers which you will be expected to read and analyse before forming your own opinions which can be tested through discussion in practical classes and through feedback from the tutor in class and through the assessment process. You will be expected to actively participate in practical classes and workshops which will help you to gain a deeper understanding of the theory. The appraisal of real life case studies and realistic scenarios will provide problem-based exercises for practical classes and workshops.

Tutors will guide you through the course by way of a series of lectures and practical classes and workshops. The e-learning portal will be used to facilitate and support the tutor-directed learning activities. This will be carried out through the practical classes and workshops in which you will carry out exercises and discuss the issues with your peers as well as tutors. A limited number of online exercises and/or quizzes will be used periodically to evaluate your comprehension of theoretical concepts.

All modules at Northumbria include a range of reading materials that students are expected to engage with. Online reading lists (provided after enrolment) give you access to your reading material for your modules. The Library works in partnership with your module tutors to ensure you have access to the material that you need.

Knowledge & Understanding:
1. Analyse the development process, as well as its myriad participants including those who commission, supply & finance construction projects
2. Appraise the construction commercial environment, and the key issues that influence contractors and subcontractors’ commercial success

Intellectual / Professional skills & abilities:
3. Analyse different procurement strategies against a range of decision-making criteria and project situations, with a view to provide suitable, evidence-based recommendations.
4. Evaluate key issues in post-tender contract administration as well as apply robust contractual procedures in order to meet commercial imperatives.

Personal Values Attributes (Global / Cultural awareness, Ethics, Curiosity) (PVA):
5. Demonstrate an awareness of the values that underpin ethical and sustainable procurement in project delivery.

Formative Assessment
Formative assessment will be used to allow you to build confidence and highlight any misunderstandings you may have of the theoretical and professional concepts presented in the module. Additional formative feedback will be delivered to you verbally by academic tutors during formally scheduled teaching and individual or group activity-based sessions to help you learn and prepare you for the submission of your summative assessment.

Summative Assessment
Summative assessment will be by one piece of coursework that will assess your ability to satisfy all the module learning outcomes. You will be assessed using a problem-based approach, which will allowing you to critically apply your knowledge from the module to a real-world scenario.

You will use the University’s e-Learning Portal to submit you work and receive your feedback using appropriate digital feedback tools.

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In the module, you will learn about how to control and manage the financial transactions of an organisation whose aim is to make a profit by keeping costs to a minimum while maximising income. Since most decisions taken on one project will ultimately affect the organisations involved either positively or adversely, projects are at the centre of commercial management for the module. Using up-to-date academic articles and industry reports, you will engage with current debates, evaluate case studies, and review current developments in construction procurement and commercial management. You will develop skills in the appraisal of schemes, calculation of project costs, budgeting and analysis of procurement challenges to contribute towards commercial success. Such skills will make you more employable as well as equipped for an excellent start to a successful career in construction, where companies increasingly employ and value graduates who have a sound understanding of the competitive nature of the business environment in which firms operate.