Units

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Sample subject outline - Semester 2 2012

Note: Subject outlines often change before the semester begins. Below is a sample outline.

Rationale

An understanding of property development is fundamental to the practice of property professionals. This unit provides an in depth look at the multi-disciplined, multi-faceted process involved in property development from site selection through to disposal of completed projects. This unit brings together concepts gained on strategic evaluation, risk, time management, organisational behaviour, planning, construction and development feasibility analysis. It places this knowledge in a total project context and provides you with an understanding of the processes involved in property development from conception to completion and beyond.

You will develop an appreciation of the various technical, social, political, economic, environmental, financial and management aspects and gain an understanding of the framework in which development occurs through participation as a group member in the assignment for a real life project.

Aims

Property and land development practice is multi-disciplinary in character involving various technical, social, political, economic, environmental and management aspects. The aim of this unit is:

• to provide you with a grounding in the principles and practices of property and land development;


• to explore the issues that arise in the application of the concepts; and


• to develop skills through a contemporary case study incorporating the preparation of a development feasibility.

Objectives

On completion of this unit, you should be able to:

1. Demonstrate a broad overview of the issues affecting property development.
2. Apply research skills that allow detailed examination of particular areas of property development practice.
3. Apply a satisfactory set of skills gained during the semester on the subject of property development practice.
4. Appreciate the breadth and dynamic nature of the principles of the topic and the importance of life-long learning to maintain competence in the area.
5. Prepare a development proposal (including development application) acceptable for lodgement with a development company/financial institution.

Content

• Land Development overview and important steps in the land development process, incorporating static feasibility calculations.


• Identification of stakeholders in the land development process and their interests.


• Site selection and deal structuring.


• The planning process and authority approvals.


• Legal requirements, environment, heritage and other development constraints.


• Initiating development opportunities, market considerations and market research.


• Development entity and financial structuring.


• Design management, procurement methods and cost projections.


• Development risk and risk management.


• Marketing and sales.


• Preliminary financial analysis, sensitivity analysis and rates of return.


• Case Studies and multi discipline based assignment.

Approaches to Teaching and Learning

Teaching Mode:
Hours per week: 3
Lecture: 2 hours per week
Tutorial: 1 hour per week

The unit will comprise lectures, tutorials, directed private study and site visits. Lectures and workshop tutorials will comprise the main teaching approach.

Learning approaches will cover the following:

• Problem based


• Self-learning


• Individual learning


• Team based learning


• Experiential learning

Assessment

QUT's Assessment Policy is located at MOPP C/5.1.

This unit will comprise both formative and summative approaches to assessment involving a mix of formats including both oral and written feedback.Your lecturer and tutor/s will provide feedback on your progress and work during lecture and tutorials.

Assessment name: Quiz
Description: Multiple choice based quiz relating to unit objectives covered to date.
Relates to objectives: 1, 2, 3
Weight: 20%
Internal or external: Internal
Group or individual: Individual
Due date: Week 7

Assessment name: Group Project
Description: A written report to provide you with experience in assessing and presenting the feasibility of a property development, including: -
- appraisal of the opportunity;
- formulation of a comprehensive concept; and
- preparation of a development proposal to communicate your concept to others.
You will, as part of a multi disciplinary team of students, undertake analysis and research on a site, consider planning, funding and entity ownership vehicles, and determine the financial viability of the project. The final deliverable is to include a feasibility analysis of the project produced in Estate Master.
Relates to objectives: 1, 2, 3, 4, 5
Weight: 40%
Internal or external: Internal
Group or individual: Group
Due date: Week 11

Assessment name: Examination (theory)
Description: End of semester exam relating to all unit objectives covered.
Relates to objectives: 1, 2, 3, 4
Weight: 40%
Internal or external: Internal
Group or individual: Individual
Due date: Exam period

Academic Honesty

QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.

A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.

Resource materials

Recommended texts will be available on the week one information list and also through the on-line Blackboard site for this unit.

Risk assessment statement

You will undertake lectures and tutorials in traditional classrooms and lecture theatres. As such, there are no extraordinary workplace health and safety issues associated with these components of the unit.

As this unit may require you to visit construction sites, you will need to take your General Site Safety Card and to wear safety boots and a hard hat. You may be required to undergo a specific safety briefing at the sites. If you do not act in accordance with the requirements of the Workplace Health and Safety Act, you will be asked to leave the construction site.

Health & Safety Inductions:
Students are required to complete the following Induction/Certificates:
1. General Safety Induction (completed On Line)
2. General Safety Induction (Construction Industry) Card - WHITE CARD (this will facilitate students attending construction worksites)

Additional Costs:
There are additional costs associated with this unit, incidental to the necessary searches for the written assignment. These costs are expected to be no greater than $100 and can be further reduced through sharing between students.

Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.

Last modified: 29-May-2012