BTEC HND in QS & BE

Unit / Module Assessment Lecturer Student Name Date Handed Over Initial Submission Date Criteria Met? Student to Tick if Attempted Grading Opportunity Initially On Resubmission Assessor Feedback Date Due Re-Submission Date ID QS/. Construction Economics Assignment: Types of Economics & Construction industry behaviour

P1.1 P1.2 P1.3 P1.4 P 2.1 P 2.2 P 2.3 P2.4 P3.1 P3.2 P 4.1 P 4.2

Construction Economics

International College of Business and Technology

Lecturer Indra M.Rajapakse Chartered Quantity Surveyor, Chartered Builder, Dip. Arbitrator

BTEC HND in QS & BE

P 4.3 M1 M2 M3 D1 D2 D3 Assessed by (name): Signature: Student Signature & Comments Date Assessed :

Important Information for Students The criteria each task relates to are shown against that task where possible. Please note that plagiarism is treated as a serious offence and therefore the work you produce must be individual and original although may work in groups in some instances (Please refer to Student Handbook on Plagiarism & Cheating). All sources of information must be referenced using Harvard referencing where a reference list/Bibliography should be included at the end of the assignment. Please note that the submission date given for this assignment is the final date that you can hand over the assignment. A one week grace period maybe extended with prior approval from the Program Manager

Construction Economics

International College of Business and Technology

Lecturer Indra M.Rajapakse Chartered Quantity Surveyor, Chartered Builder, Dip. Arbitrator

BTEC HND in QS & BE

Undergraduate. However, note that submissions handed in one week late will be graded lower (Please refer to the Student Handbook on Assessments - Late Submissions & Penalties). Assignments returned to students for re-working must be re-submitted within 10 days (Please refer to Student Handbook on Assignments Re-submission). Failure to re-submit the previously marked assignment with the re-submitted assignment will mean that results cannot be released for the respective unit. Please read, follow and reference both the contents of the unit outline and the grading criteria of the assignment before completing this assignment. Plagiarism: While research and discussion are an essential part of an assignment, the deliberate copying of someone elses work or unacknowledged copying from printed or electronic sources is NOT permitted. You may be subject to disciplinary procedure if you do this. You should sign this sheet to show that you comply with these regulations.

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Assessment has been internally verified for use.

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Construction Economics

International College of Business and Technology

Lecturer Indra M.Rajapakse Chartered Quantity Surveyor, Chartered Builder, Dip. Arbitrator

BTEC HND in QS & BE

Assignment 02 - Construction Economics Scenario The construction investment in Sri- Lanka has followed the economic changes that took place during the last decade. This resulted in a significant change particularly in the supply side of the construction industry. Projections towards the new millennium reveal that government policies will be the key deterministic factor with its traditional role changing from that of an investor and a regulator to that of a facilitator in construction. While these policies lead to a larger private sector participation in infrastructure and industrial development with increased foreign participation, it has also put the domestic industry under pressure to change due to such developments. As such, the role of the contracting firms together with the project delivery process and project procurement will be subject to change to meet new demand conditions. This new project culture will face many constraints that originate locally from financial, technological and management deficiencies and construction industry development will be necessitated to accommodate new trends in order to be beneficial. Both corporate development and wider industry development will be necessary. TASK P1.1 Using as examples; analyze the fundamental differences between the theoretical operations of free market and planned economies Explain the operation of the price mechanism for construction product in free market economy Draw examples of supply and demand curves from selected data and determine equilibrium points for construction product Illustrate the conclusions derived from the results obtained by carrying out a cost benefit analysis using selected set of information Using a chart compare the differences between perfect, imperfect and monopolistic competition markets Using Sri Lankan construction industry as an example explain how economies of scale can affect profitability within the construction industry

P1.2

P1.3

P1.4

P2.1

P2.2

Construction Economics

International College of Business and Technology

Lecturer Indra M.Rajapakse Chartered Quantity Surveyor, Chartered Builder, Dip. Arbitrator

BTEC HND in QS & BE

P2.3 Using production possibility frontier explain the increasing or decreasing returns of scale for construction product Identify and describe suitable sources of finance for given projects and business types likely to be found within the construction industry in Sri Lanka Using recent data concerning the different sectors, size and number of organizations and volumes of work completed, within the construction industry analyze the performance of the Sri Lankan construction industry using appropriate charts and graphs Propose possible economic reasons for results shown on the charts and graphs in the Annual Survey of Construction Industries 2009-Department of Census and statistics report (http://www.statistics.gov.lk/industry/AnnualSurveyConIndustries2009.pdf) Review the different forms of direct and indirect taxation operating within the Sri Lanka at the present time, giving examples of their implications for construction Assess how government policy can affect the operation of the construction industry in Sri Lanka. Evaluate the consequences of varying exchange rates on the levels of international trade on Sri Lankan economy.

P2.4

P3.1

P3.2

P4.1

P4.2

P4.3

Construction Economics

International College of Business and Technology

Lecturer Indra M.Rajapakse Chartered Quantity Surveyor, Chartered Builder, Dip. Arbitrator

BTEC HND in QS & BE

M1

Effective judgments have been made Complex problems with more than one Identify and apply variable have been explored strategies to find appropriate solutions An effective approach to study and research has been applied Relevant theories been applied and techniques have

Identify the nature of macro and micro economy using effective approach

M2

A range of methods and techniques have been applied Select/design and A range of sources of information has been used apply appropriate The selection of methods and methods/technique. techniques/sources has been justified the design of methods/techniques has been justified Complex information/data has been synthesized and processed appropriate learning methods/techniques have been applied

Range of Sri Lankan examples & datasets to be used to compose answers

M3

Present and communicate findings

The appropriate structure and approach has been used Coherent, logical development of principles/concepts for the intended audience A range of methods of presentation have been used and technical language has been accurately used Communication has taken place in familiar and unfamiliar contexts The communication is appropriate for familiar and unfamiliar audiences and appropriate media have been used

Identify proper structure for the information present regarding macro and micro economic behavior

Construction Economics

International College of Business and Technology

Lecturer Indra M.Rajapakse Chartered Quantity Surveyor, Chartered Builder, Dip. Arbitrator

BTEC HND in QS & BE

D1 Use critical reflection to evaluate own work and justify valid conclusions. D2

Conclusions have been arrived at through synthesis of ideas and have been justified The validity of results has been evaluated using defined criteria Self-criticism of approach has taken place Realistic improvements have been proposed against defined characteristics for success Autonomy/independence has been demonstrate Substantial activities, projects or investigations have been planned, managed and organized Activities have been managed The unforeseen has been accommodated The importance of interdependence has been recognized and achieved

Self criticism on observed information on macro and micro economics performances

Investigating projects & other activities to support the behavior of construction sector

D 2 Take responsibility for managing and organizing activities

D3

Demonstrate Ideas have been generated and decisions convergent/lateral/ taken Self-evaluation has taken place creative thinking Convergent and lateral thinking have been applied Problems have been solved Innovation and creative thought have been applied Receptiveness to new ideas is evident Effective thinking has taken place in unfamiliar contexts

Innovative and logical reasoning of findings regarding economic performance of construction product

Construction Economics

International College of Business and Technology

Lecturer Indra M.Rajapakse Chartered Quantity Surveyor, Chartered Builder, Dip. Arbitrator

BTEC HND in QS & BE

Grading P1.1 P1.2 P1.3 P1.4 P 2.1 P 2.2 P 2.3 P2.4 P3.1 P3.2 P 4.1 P 4.2 P4.3 M1 M2 M3 D1 D2 D3

Assignment

Construction Economics

International College of Business and Technology

Lecturer Indra M.Rajapakse Chartered Quantity Surveyor, Chartered Builder, Dip. Arbitrator