CEM200: Human Resource Management, and Real Estate Development and Appraisal

Module code: CEM200

Module provider: School of Construction Management and Engineering, School of Built Environment

Credits: 20

Level: Postgraduate Masters

When you'll be taught: Semester 2

Module convenor: Professor Pat McAllister, email: p.m.mcallister@henley.reading.ac.uk

Module co-convenor: Dr Florence Phua, email: f.phua@reading.ac.uk

Pre-requisite module(s):

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: NA

Academic year: 2024/5

Available to visiting students: Yes

Talis reading list: Yes

Last updated: 21 May 2024

Overview

Module aims and purpose

This module consists of two parts: Human Resource Management, and Real Estate Development and Appraisal.

For Human resource management:

Effective human resource management (HRM) contributes significantly to overall organizational performance. People are a key source of a firm’s competitive advantage and so, the processes, practices, and implications of HRM must be considered seriously. However, due to a range of practical pressures and factors that are either associated with or embedded within the industry, the vital role of HRM in construction is often overlooked.  The module will cover the essential elements of HRM and their implementation in the UK and international construction industry. It draws substantially on HRM concepts, theories and practices from different industries to facilitate understanding of the issues and concerns that are applicable to both construction and non-construction firms. It will explain and clarify how an informed, well-structured and participative approach to HRM can deliver substantial benefits to all stakeholders: employers and employees as well as their shareholders and clients.

The aims of this part of the module are:

• To provide you with an appreciation of the characteristics and practices of the construction industry and the role of HRM in both project- and non-project based organizations
• To introduce you to current perspectives on key HRM concepts
• To provide you with an understanding of the theories and practical considerations of HRM and its implications for construction firm performance and strategic positioning
• To enable you to competently apply germane HRM concepts and theories to complete module assignment

For Real Estate Development and Appraisal:

This module provides a course of study that focuses on the financing and financial appraisal of real estate development projects.  The module aims to provide students with an understanding of:

• The investment mathematics underpinning the financial modelling of development appraisal projects
• The main development appraisal techniques
• The financing of real estate development projects

The content of the module is focused on the financial appraisal of real estate development projects. Students will develop a practical and applied understanding of real estate development appraisal which includes an introduction to basic financial mathematics.

Aims of this part of the module are:

• To develop students’ understanding of the project appraisal techniques underpinning the financial analysis of real estate development projects
• To develop students’ capacity to apply a range of development appraisal techniques to process real estate development projects
• To develop students’ knowledge and understanding of the financing of real estate development projects

Module learning outcomes

By the end of the module, it is expected that students will be able to:

1. Understand the theory, core processes and practices of HRM and gain an appreciation of their impact on organizational and individual performance;
2. Understand the complexities and implications of effective HR strategies for organizational management;
3. Critically evaluate the principles upon which different HRM practices and policies are developed in different organizational and industry contexts
4. Apply appropriate techniques in the financial appraisal of real estate development projects.

Module content

The outline content for the module is indicated below.

For Human resource management:

• HRM in the construction industry context
• Principles and theories of HRM
• Processes and practices of HRM
• Strategic HRM and future development
• Other HRM-related issues

For Real Estate Development and Appraisal:

• Basic investment mathematics (calculating future and present values).
• Discounted cash flow modelling (calculating Net Present Value and Internal Rate of Return).
• Core principles of appraising real estate development projects.
• The key information needs for building real estate development appraisals.
• Key financial performance metrics for real estate development projects.
• Real estate development appraisal methods (the simple residual method, the discounted cash flow method incorporating a fixed profit margin and finance, the discounted cash flow method incorporating a hurdle Internal Rate of Return).
• Introducing loans into modelling real estate development project cash flows.
• Introducing joint venture structures into modelling real estate development project cash flows

Structure

Teaching and learning methods

A variety of teaching and learning methods including lectures, seminars, case studies and interactive in-class discussions will be used. A particular emphasis will be placed on the critical evaluation of accepted HRM concepts and principles in both domestic and international contexts. Contributors and guest speakers from academia and industry who specialise in HRM will be invited to contribute to the module in order to enhance your learning experience and to broaden your HRM perspectives.

Study hours

At least 45 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve an overall module mark of 50% to pass this module.

Summative assessment

Penalties for late submission of summative assessment

The below information applies toall full time and flexible modularstudents on taught PGT programmes in SBE

The Support Centres will apply the following penalties for work submitted late:

Assessments with numerical marks

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmission.pdf

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

In-class tasks and exercises that directly address lecture topics covered to embed learning.

Reassessment

Additional costs