Course Overview

Construction and Real estate management based on Life Cycle Costing,  is a new field of knowledge and an emerging profession, especially in Eastern Europe and other post-socialist countries. Therefore, we estimate that our course “Buildings Life Cycle Costing and Management” would be interesting and useful for students, researchers and managers who are going to be professionals in facility management, building management, assets management, property management and housing management.  This course will be also interesting because of its complex content which covers management of different types of facilities during whole life cycle period, especially concerning public real estate and housing.

The course is based on original lecturer’s scientific publications and practical experience.

The course consists of four parts, 14 lessons, 7 seminars and exam (Table):

Structure of the course

Titles	Days/ hrs	Lessons/ hrs	Seminars/hrs
1. Basics of life cycle costing in construction and real estate management	2/8	3/6	1/2
2. Methodology of efficient design, construction, maintenance and operation of real estate objects	3/12	4/8	2/4
3. Management specifics of several types of real estate objects	2/8	2/4	2/4
4. Efficient residential housing management	3/12	4/8	2/4
Exam	-/2
Total:	10/ 42	13/26	7/14

 

Learning Outcomes

By the end of this course students should be able:

- to systematize new knowledge in the complex field of real property and real estate management (including such disciplines as fixed assets, construction, maintenance and operation management)

• to communicate, to discuss, to find decisions, to solve problems in the field of the real estate.

- to apply their theoretical knowledge to manage private and public real estate objects during their life cycle using the principles of project management and LCC

- to apply different methods, tools, technologies and instruments to manage real estate objects on different life cycle stages (planning, design, construction, maintenance, operation) depending on the type and branch of facilities (industrial and civil objects, municipal infrastructure, enterprises and public facilities)  

• to apply different methods, tools, technologies and instruments to manage residential houses on different life cycle stages
• to apply their knowledge to manage private and public residential houses stock on local and national level
• to communicate, to discuss, to find decisions, to solve problems in the field of the housing policy.

Course Content

Part 1. Basics of life cycle costing in construction and real estate management

Day 1

Lesson 1. Basics of property and real property – 2 hrs

1.1. Property, real property and real estate legal definitions

1.2. Natural and man-made real property

1.3. Property rights

1.4. Public, municipal and private real property 

Lesson 2. Basics of construction and real estate management – 2 hrs

2.1. Concept of developed real estate,  the role of design and construction

2.2. Classification of real estate objects

2.3. Complex content of real estate management

2.4. Subject domains of the real estate management

2.5. International standards of fixed assets management  

 

Day 2

Lesson 3. Concept of real estate life-cycle management - 2 hrs

3.1. Genesis of Life Cycle Costing (LCC, WLA) concepts

3.2. Information and methodical support of real estate life cycle management

3.3. Processes within real estate life cycle   

3.4. Life cycle cost control and adjusting  

            Seminar 1. Basics of real property and real estate life cycle management – 2 hrs

Part 2. Methodology of efficient design, construction, maintenance and operation of real estate objects

Day 3

Lesson 4. Essence of Building Information Modeling (ВІМ) in Life Cycle Costing and Management - 2 hrs

4.1. 3D building design and information support of Construction Elements Life Cycle Costing

4.2. Concept of Building Information Modeling (ВІМ) Development

4.3. Basic ВІМ advantages for real estate management system

Seminar 2. BIM examples. BIM best practice – 2 hrs

 

Day 4

Lesson 5. Cost engineering and construction cost management   - 2 hrs

5.1. Basic directions of construction (building) management reformation

5.2. Problems of cost and price estimation in construction

5.3. Setting of norms and international standards of building cost  

 

Lesson 6. Real estate maintenance management - 2 hrs

6.1. Measures on efficient Building Maintenance Management (BMM)

6.2. Technical and economic evaluation of building condition

6.3. Real estate market evaluation

           

Day 5

Lesson 7. Real estate operation management – 2 hrs

7.1. Real estate operation (Facility Management) tasks

7.2   Real estate Assets Management

Seminar 3. System of BMM, FM and AMM in real property and real estate management   – 2 hrs

 

Part 3. Specifics of management of several types of real estate objects

Day 6

Lesson 8. Public real assets management - 2 hrs

8.1.  Real estate portfolio management and owner’s financing tasks

8.2.  FCI methodology

Seminar 4.  The best practice of university property management – 2 hrs

 

Day 7

Lesson 9. Enterprise fixed assets management – 2 hrs

9.1.  Quality level of products and services

9.2.  Management of critical assets

Seminar 5. Applied features of assets life cycle management – 2 hrs

Part 4. Efficient residential housing management

Day 8

Lesson 10. Housing stock condition – 2 hrs

10.1. Condition of the housing stock and renovation requirements

10.2. Cost of effective homeownership

10.3.  Market rental and social housing

            Lesson 11 Ownership and management of residential housing – 2 hrs

 11.1. Housing joint ownership models across the world

 11.2. Legal forms of housing management

 11.3. Housing companies management

 

Day 9

Lesson 12. Nowadays housing policy – 2 hrs

12.1. History of housing policy

12.2. Critical analysis of existing housing policy models

12.3. Problems to be resolved

Lesson 13. Transforming debts into ownership – 2 hrs

13.1. Subsidies and debts

13.2. Digital instruments

13.3. Property securitization

13.4. Securities tokenization

13.5. Regional institutional infrastructure

 

Day 10

Seminar 6.  Sustainable maintenance of housing stock – 2 hrs

Seminar 7. Towards effective housing policy. Case of Ukraine – 2 hrs

Final assessment – 2 hrs

Instructional Method

The lectures will be taught using Power Point presentations and teaching films.

The seminars assume reading of electronic texts then discussion, calculations and decision making.

Required Course Materials

Presentation and projection means.

The teachers and students will be asked to use their own computers. 

Assessment

The current control will be carried out during lectures and seminars It will estimate: the attending lectures (L), the activity of the student's work in practical classes, seminars (S), the quality of student’s thematic reports. 

The final control will be the sum of points accumulated by the student based on the results of four parts studying.  Final control will provide an examination, after which the student will get a final score for the discipline composed of the sum of the results of the current control and final examination (Table).

  Final control

Current control				Examination	Sum
Part 1	Part 2	Part 3	Part 4
L – 6, S - 2	L – 8, S - 4	L – 4, S - 4	L –8, S - 4
Total - 16	Total - 24	Total - 16	Total - 24	20	100

 

Assessment of students' knowledge is carried out on a 100-point scale and is: for current progress - 80 points, for the final examination - 20 points. 

Next table is used to match the assessment of students' knowledge.

Sum	ECTS
91 – 100	А
81-90	В
71-80	С
61-70	D
51-60	Е
31-50	FX
0-30	F