Mining and Minerals Engineering

CSMM123 - Project Management, Finance and Appraisal A (2012)

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MODULE TITLEProject Management, Finance and Appraisal A CREDIT VALUE15
MODULE CODECSMM123 MODULE CONVENER Neill Wood V.R., A.R.S.M., F.H.E.A. (Coordinator)
DURATION: TERM 1 2 3
DURATION: WEEKS 9
Number of Students Taking Module (anticipated) 2
DESCRIPTION - summary of the module content

This module aims to introduce students to the principles of project management, giving them the ability to use standard management tools and to understand the context in which they are used.  Students go on to learn about financial issues, including basic financial interpretation, the application of financial issues to project appraisal, and finance from an investor’s perspective.  Lectures are punctuated with real life examples to illustrate the points being made.  Students are expected to have basic mathematical ability but the module will be suitable for students from a wide range of backgrounds.

AIMS - intentions of the module

The module aims to allow candidates to master skills and attain thorough knowledge and understanding of project management techniques including appropriate computer based tools. The module further provides an opportunity for candidates to develop their understanding of the way people work as a route to effective management and provides an introduction to accounting from the perspectives of both management and investors. The programme of lectures, tutorials, case-study and computer workshops build on this foundation to so that candidates become proficient in the application of these techniques in a diverse set of project management contexts.

INTENDED LEARNING OUTCOMES (ILOs) (see assessment section below for how ILOs will be assessed)

Module Specific Skills and Knowledge:

1

Ability to understand, analyse and interpret a set of annual financial statements and produce a reasoned evaluation of corporate performance.

2

A sound understanding of the sources of finance and be able to conduct a conduct a contextual evaluation of finance.

3

The ability to independently evaluate the financial feasibility of a proposed project including project valuation and risk assessment.

4

Autonomous ability to interpret a scope of work and produce a work breakdown structure, from which the student will have the ability to develop a project plan and project budget, and to use these documents as the basis of a reporting structure.

Discipline Specific Skills and Knowledge:

5

Autonomous ability to forecast completion dates and expenditure and to formulate appropriate plans for corrective action when required.

6

Able to clearly understand the sources of project risk (technical, contractual and commercial) and to devise ways in which these risks can be mitigated at project design stage to make the project plan more robust to unforeseen circumstances with confidence.

7

An understanding of the legal framework governing project management and corporate finance.

Personal and Key Transferable/ Employment Skills and  Knowledge:

8

The ability to create a project plant (GANTT Chart) and to use the plan as a project-monitoring tool.

 

SYLLABUS PLAN - summary of the structure and academic content of the module

Lecture Topics

Week 1: Project Definition.

Scope of Work & Budget, Planning & Control activity, MS Project - Planning

Week 2: Project Evaluation

Decision making, Project Monitoring & Reporting, Planning Tutorial

Week 3: Project Risk

Technical Risk, Contractual / Commercial Risk, Review & Risk Tutorial

Week 4: Project Activity

Cost control, Progress reporting, Quality Control & Logistics, Tutorials

Week 5: The Project Manager

Attributes, Matching management style to the project

Week 6: Contract Management

Forms of Contract, Contractor - Client Relationship, Legal / contract obligations, Claims and adjustments

Week 7: Financial Accounting

Financial accounting principles, Ledgers, Depreciation and Taxation, Position Statement, Income Statement, Funds Flow Analysis, Ratio Analysis and Interpretation of Accounts, Capital Structure, Shares & Trading

Week 8: Management Accounting

Asset Valuation, Capital & Operating Cost Estimation, Product Costing, Budgets & variance Analysis

Week 9: Project Appraisal

Income, Working Capital & Cashflow, Cashflow Model, Project Value Measurement, Financial Risk

LEARNING AND TEACHING
LEARNING ACTIVITIES AND TEACHING METHODS (given in hours of study time)
Scheduled Learning & Teaching Activities 54.00 Guided Independent Study 246.00 Placement / Study Abroad
DETAILS OF LEARNING ACTIVITIES AND TEACHING METHODS

Category

Hours of study time

Description

Lectures

44 hrs

Teaching of subject knowledge will be through a combination of lectures and linked tutorials (ILOs 1-8).

Lecture materials focus on the explanation of a series of examples covering the major topic areas, introducing the necessary theory as and when necessary. Lecture notes are augmented by extensive oral explanation with real life examples explained.  Students should therefore attend all lectures and should not rely on the published notes alone for a full understanding of the topic.

Tutorials/workshops

10 hrs

 

Private study

246 hrs

 

 

ASSESSMENT
FORMATIVE ASSESSMENT - for feedback and development purposes; does not count towards module grade

The recommended textbooks on finance include self-study assessments.  Self-study exercises are issued in respect of project management topics.

SUMMATIVE ASSESSMENT (% of credit)
Coursework 40 Written Exams 60 Practical Exams
DETAILS OF SUMMATIVE ASSESSMENT

Form of Assessment

 

% of credit

Size of the assessment  e.g. duration/length

ILOs assessed

Feedback method

Examination

60%

2.5 hours

ILOs 1-7

 

A financial analysis assignment requiring a forensic evaluation of the financial standing of a quoted industrial/engineering company

20%

1500-2000 words

ILOs 1,2 and 3

Written feedback on assignment submission sheet.

A project management based assignment requiring the student to demonstrate critical judgement based upon the use of a range of project management skills

20%

1500-2000 words

ILOs 4,5,6 and 7

Written feedback on assignment submission sheet.

 

DETAILS OF RE-ASSESSMENT (where required by referral or deferral)

Original form of assessment

Form of re-assessment

ILOs re-assessed

Time scale for re-assessment

Summative Assessment

Additional Summative assignment

Weighting as above

August Ref/Def period

Examination

Additional Examination

Weighting as above

August Ref/Def period

 

RE-ASSESSMENT NOTES

As above 1 piece of CW 40% and/or 1 Exam 60%

RESOURCES
INDICATIVE LEARNING RESOURCES - The following list is offered as an indication of the type & level of
information that you are expected to consult. Further guidance will be provided by the Module Convener

Basic reading:

 

Lock, Dennis, 2007, Project Management (9th Edition), Gower Publishing

 

Collier, Paul M, 2012, Accounting for Managers (4th Edition), Wiley

 

Barker, Richard, 2011, Short Introduction to Accounting (Euro Edition), Cambridge University Press

 

Downes, T.A., 1997. Textbook on Contract (5th Edition), Blackstone Press Ltd.                                                               

 

Furmston, M.P., 1991. Law of Contract (12th Edition), Butterworths.                                                                          

 

Winston, Wayne L. 1991, Operations research: applications and algorithms (2nd edition) PWS-KENT Publishing Company, Boston.                 

 

Harr, M.E., 1987. Reliability-Based Design in Civil Engineering, McGraw-Hill.                                                               

 

Cole, G.A., 2003. Management, Theory and Practice, 6th Edition, Thompson Learning                                                           

 

Handy, C.B., 1993 Understanding organizations (4th edition) Penguin.                                                                         

 

Gray, E.R. and Smeltzer, L.R., 1989. Management: the competitive edge. Macmillan.                                                           

 

Vause, B. 2002 Guide to Analysing Companies. 3rd Edition, The Economist Books                                                                

 

Begg, D. et al., 2005 (Feb). Economics (7th Edition). McGraw-Hill.                                                                          

 

Drury, C., 2003. Management and Cost Accounting (5th Edition). International Thompson Business Press                                        

 

Kernot, C., 1991. Mining Equities: evaluation and trading. Woodhead Publishing: Cambridge.                                                  

 

Gentry, D.W. and ONeil, T.J., 1984. Mine Investment Analysis, American Institute of Mining, Metallurgical and Petroleum Engineers: New York.

 

ELE – College to provide hyperlink to appropriate pages

Reading list for this module:

There are currently no reading list entries found for this module.

CREDIT VALUE 15 ECTS VALUE 7.5
PRE-REQUISITE MODULES None
CO-REQUISITE MODULES None
NQF LEVEL (FHEQ) M (NQF Level 7) AVAILABLE AS DISTANCE LEARNING No
ORIGIN DATE Monday 12 March 2012 LAST REVISION DATE Friday 06 July 2012
KEY WORDS SEARCH None Defined