KB7037 - Project Feasibility and Economics

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What will I learn on this module?

In this module you will learn the various economic environments surrounding project organizations and project delivery, and examine the resources and constraints relating to financial decision-making for project formulation, initiation, delivery, and review. This module goes to assist in defining the levels of responsibility and directions of accountability required of a project manager. The module will cover the following key subjects, such as:

• The Sponsor economic environment: general economic theory; financial reportage, ratio analysis, determinants for solvency, business case appraisals, sources of finance and funding, project portfolios.
• The Professional economic environment; general economic theory; resourcing, scheduling, forecasting (risk and uncertainty), cash flow and professional services marketing.
• The Contracting economic environment: general economic theory; budgeting and cost management, labour and earned value analysis.
• Social Economic environments: public and private sector distinctions.

How will I learn on this module?

You will learn through a combination of learning and teaching methods including lectures*, seminars*, and directed learning. Lectures will offer you the opportunity to develop your knowledge of the principles and concepts of project feasibility and economics. The seminars will be used to reinforce your learning from the lectures through the use of examples and case studies which you will research, discuss and receive feedback from the tutors. Seminars will enable you to develop your ability to think independently and make judgements on matters relating to project feasibility and economics. The rationale for the problem solving tasks during seminars is to support your learning by addressing project related issues with particular emphasis on the need to understand the circumstances within which the subject is delivered and the connection to the economic environments within which projects are found. The aim is to broaden and deepen your understanding of the theoretical and practical aspects of the subject, which in turn will help broaden your professional skills and abilities.

You will have electronic assess, via the university’s e-learning portal and online library resources, to all learning materials, relevant text books and seminar materials.

*Lectures and seminars will be used to support effective transmission of information and will be delivered via a combination of face-to-face ‘live’ sessions lectures held in university classrooms, and the use of digitally pre-recorded sessions or live video webcasts. All ‘live’ lecture sessions will be captured using Northumbria University approved teaching platforms (currently the Panopto video platform: https://www.panopto.com/) and hosted on the eLearning Portal (ELP) with materials being made available after delivery on campus.
This content will remain available throughout the programme. **For distance learning students equivalent seminar materials will be provided to facilitate learning.

How will I be supported academically on this module?

Academic support for this module will be provided by tutors in a variety of ways to suit your individual needs.

The Seminar sessions will encourage you to identify and explore unconsolidated areas of learning to support your progression through the module. Coursework feedback will be provided via the module electronic portal site addressing generic consideration of your work. Individual feedback will be provided to coursework submissions to clarify points of learning that have not been fully assimilated. You will receive marked coursework with written feedback on Blackboard.

Resources from lecturers and seminars will be uploaded onto the University’s Blackboard site. The reading list for the module is held online and will be accessible via the University’s Blackboard site. The list will allow you online access to the key resources on the subject.

What will I be expected to read on this module?

All modules at Northumbria include a range of reading materials that students are expected to engage with. The reading list for this module can be found at: http://readinglists.northumbria.ac.uk
(Reading List service online guide for academic staff this containing contact details for the Reading List team – http://library.northumbria.ac.uk/readinglists)

What will I be expected to achieve?

Knowledge & Understanding:

1. Distinguish the economic perceptions of business organisations as clients/sponsors, professional advisors (independent practice), and contracting organizations.
2. Reconcile the different economic perspectives relevant to demand, supply, costs and revenues and the operation of markets.
3. To articulate a broad awareness of economics and project economics nomenclature.

Intellectual / Professional skills & abilities:
4. You will develop your skills in recommending appropriate strategies for effective financial control in competition / collaboration; public/private sector interactions, and in the interpretation of economic data for resource forecasting.

Personal Values Attributes (Global / Cultural awareness, Ethics, Curiosity) (PVA):

You will be expected to develop ethical awareness by:

5. Developing and reinforcing the ethical characteristics of a Northumbria graduate as you consider the values that underpin ethical approaches to project feasibility and justification. You will have the opportunity to reflect on how these are linked to your own values.

How will I be assessed?

On campus Students
Your main element of assessment (100%) will be a coursework that will assess MLO 1 to 5.
Seminar sessions will be used for formative assessment on problem solving tasks and to encourage you to identify and explore other areas of learning to support your progression through the module.

Formative feedback will be delivered verbally to you during the seminar sessions. Written feedback will be provided via the module electronic portal upon return of the coursework.

Distance Learning Students
Your main element of assessment (100%) will be a coursework that will assess MLO 1 to 5..
Formative feedback will be delivered via the eLP and using the online forum. Written feedback will be provided via the module electronic portal upon return of the coursework.

Pre-requisite(s)

None

Co-requisite(s)

None

Module abstract

This module will provide a general introduction to the subject matter of project economics as located within the project environment; the relevant and applicable financial drivers affecting project procurement and contracts, where these are essential to the framing of the context within which a project may be delivered. This module goes to assist in defining the levels of responsibility and directions of accountability required of a project manager.

This module will prepare and give you the grounding for future employment. Employers are looking for graduates with project feasibility and economics skills who can work as individuals and as members of a team in tackling problems and at the same time being able to make difficult decisions relating to the project.

The module has been designed to satisfy several of the programme learning outcomes related to technical knowledge, employability, critical thinking and problem solving innovation.

What will I learn on this module?

In this module you will learn the various economic environments surrounding project organizations and project delivery, and examine the resources and constraints relating to financial decision-making for project formulation, initiation, delivery, and review. This module goes to assist in defining the levels of responsibility and directions of accountability required of a project manager. The module will cover the following key subjects, such as:

• The Sponsor economic environment: general economic theory; financial reportage, ratio analysis, determinants for solvency, business case appraisals, sources of finance and funding, project portfolios.
• The Professional economic environment; general economic theory; resourcing, scheduling, forecasting (risk and uncertainty), cash flow and professional services marketing.
• The Contracting economic environment: general economic theory; budgeting and cost management, labour and earned value analysis.
• Social Economic environments: public and private sector distinctions.

Course info

Credits 20

Level of Study Postgraduate

Mode of Study 16 months full-time
3 other options available

Department Mechanical and Construction Engineering

Location City Campus, Northumbria University

City Newcastle

Start January 2020 or January 2021

Fee Information

Module Information

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