What will I learn on this module?
In this module, you will learn the various economic environments surrounding project organisations 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. Themes that may be covered include 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, and social, economic environments: public and private sector distinctions.
How will I learn on this module?
This module will allow you to develop the relevant subject knowledge. You will learn through a combination of engaging, interactive methodologies and teaching approaches, including lectures, seminars, academic staff-guided independent learning, independent student learning, and by engagement in technologically-enhanced learning (TEL). A directed study of textbooks will support formally scheduled teaching, PSRB reports and scholarly journal articles (hard copy or electronic), critical evaluation of case studies, problem-based learning, simulation and reflection exercises. Additional formally scheduled teaching approaches will include video presentations, peer group discussions and presentations. The module will also use an inter-disciplinary approach to the development of the syllabus and teaching resources.
How will I be supported academically on this module?
Academic staff will provide guidance, 1-2-1 support (where possible), or use interactive asynchronous online peer support forums on the University’s virtual learning environment (VLE) to support you in your studies. Academic staff will use guided independent learning activities, e.g., directed reading. You will supplement this structured support with independent learning activities.
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. Online reading lists (provided after enrolment) give you access to your reading material for your modules. The Library works in partnership with your module tutors to ensure you have access to the material that you need.
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 organisations.
2. Reconcile the different economic perspectives relevant to demand, supply, costs and revenues and the operation of markets.
3. Articulate a broad awareness of economics and project economics nomenclature.
Intellectual / Professional skills & abilities:
4. 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. Develop and reinforce 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?
Formative Assessment
Academic staff on the module will assess you in a formative manner to help build your confidence and highlight any misunderstandings you may have of the theoretical and professional concepts presented in the module. Your formative feedback will be given to you either verbally by academic staff on the module during formally-scheduled teaching sessions or digitally using the University’s VLE. Your formative feedback aims to help you learn and prepare for the submission of your summative assessment.
Summative Assessment
Academic staff on the module will assess you in a summative manner by one piece of coursework. Academic staff on the module will use the coursework to evaluate your ability to satisfy all the module’s learning outcomes. You will use the University’s VLE to submit your coursework. Academic staff on the module will use digital feedback tools to issue your feedback.
Pre-requisite(s)
None
Co-requisite(s)
None
Module abstract
This module will provide a general introduction to the subject matter of project economics 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. The 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.
Course info
Credits 20
Level of Study Postgraduate
Mode of Study 2 years Full Time (with Advanced Practice in the second year)
2 other options available
Department Architecture and Built Environment
Location City Campus, Northumbria University
City Newcastle
Start January 2025
All information is accurate at the time of sharing.
Full time Courses are primarily delivered via on-campus face to face learning but could include elements of online learning. Most courses run as planned and as promoted on our website and via our marketing materials, but if there are any substantial changes (as determined by the Competition and Markets Authority) to a course or there is the potential that course may be withdrawn, we will notify all affected applicants as soon as possible with advice and guidance regarding their options. It is also important to be aware that optional modules listed on course pages may be subject to change depending on uptake numbers each year.
Contact time is subject to increase or decrease in line with possible restrictions imposed by the government or the University in the interest of maintaining the health and safety and wellbeing of students, staff, and visitors if this is deemed necessary in future.
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