15323 Development Management
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Credit points: 6 cp
PostgraduateResult type: Grade and marks
There are course requisites for this subject. See access conditions.
This subject examines the economic and political framework within which development occurs, the phases of initial project development and the necessary technical tools to carry out a full feasibility study for a development proposal; planning, approval and financing considerations; and strategies to deliver value for money during the development phase.
Subject learning objectives (SLOs)
On successful completion of this subject, students should be able to:
|a.||be proficient in the techniques and methodologies used by property valuers|
|b.||demonstrate an extensive and detailed knowledge of feasibility studies, including market appraisal|
|c.||investigate and evaluate case studies involving investment properties|
|d.||understand, research and apply capitalisation rates to investment options|
|e.||use risk analysis in the assessment of development choices|
|f.||identify financing options and tax implications.|
Teaching and learning strategies
Facility Obsolescence is an online subject delivered over the Internet and involves self-directed research, case studies and discussion. There is no examination component. Instruction is provided via online resources and private reading. Students are encouraged to discuss problems with others by raising issues or asking questions using UTS Online. This approach will encourage student interaction and help make the course run like a virtual classroom. You can ask questions at any time. However, rather than sending a message to the instructor or to a fellow student, it is suggested to send the message to everyone. This is done using the online DISCUSSION BOARD. In this manner a common question can be answered once and everyone can benefit from the instructor's input whether or not they specifically ask for assistance. The subject involves background reading material, online class discussions and case studies of actual facilities. The subject involves the progressive examination of a chosen workplace in terms of the issues which effect the health, well-being and productivity of its occupants. This investigation is informed by case studies of other facilities and their critical assessment.
The following content will be covered in the subject: Valuation: Methods of valuation. Market analysis, cost and income approaches. Adjustment of comparable prices. Feasibility studies: Short-term and long-term studies. The developer's equation. Discounted cash flow methods. Capitalisation rate determination. Selection criteria and efficiency indicators. Risk analysis. Project Financing: Sources of funds. Equity versus borrowing. Discount rates. Taxation considerations. Depreciation of built facilities. International Case Studies: Examination of case studies that are representative of international best practice. Computer Software Solutions: Identification and evaluation of leading edge software applications in development management.
Assessment task 1: Internet Research Papers (2)
Assessment task 2: Case Studies (3)
- Robinson, J. (1999), Property Valuation and Investment Analysis: A cash flow approach, Law Book Coy.
- Following Documents (provided in UTS Online)
- The Concept of Value
- Property Valuation Methods
- Feasibility Studies
- The Time Value of Money
- Discounted Cash Flow Analysis
- Investment Decisions
- Risk Analysis
- Cost-Benefit Analysis
API (1997), Valuation Principles and Practice, Australian Property Institute. Barrett, P. (1995), Facilities Management: Towards best practice, Blackwell Science. Baum, A. and Crosby, N. (1995), Property Investment Appraisal (Second Edition), Routledge. Cotts, D.G. (1999), The Facility Management Handbook (Second Edition), AMACOM. Overton, R. (2000), Feasibility Studies Made Easy, Martin Management, Parramatta, NSW. Palepu, K.G., Healy, P.M. and Bernard, V.L. (2000), Business Analysis and Valuation: Using financial solutions (Second Edition), South-Western College Publishing. Park, A. (1994), Facilities Management: An explanation, Macmillan. Penman, S.H. (2001), Financial Statement Analysis and Security Valuation, McGraw-Hill. Rondeau, E.P., Brown, R.K. and Lapides, P.D. (1995), Facility Management, Wiley. Squirrell, M. (1997), Readings in Property Economics, Australian Property Institute. Whipple, R.T.M. (1995), Property Valuation and Analysis, The Law Book Company.