Financial Management [QSB 3413/3414]

SCHOOL OF ARCHITECTURE • BUILDING • DESIGN

Centre for Modern Architecture Studies in Southeast Asia

Bachelor of Quantity Surveying (Honours)

Portfolio

(Semester 5 April 2014)

YVONNE LAI YEE VUN

(0304029)

Financial Management 

[QSB 3413/3414]

Personal Information..

Name : Yvonne Lai Yee Vun

Student ID : 0304029

Date of Birth : 10th August 1992

Intake: July 2011

Semester : Semester 5, April 2014

Objective.. 

• To understand the management of corporate and how the financial status of a corporate is
• To be able to give better decision in management or company for finance
• To understand the importance of the time and risk in affecting the finance of a certain management 

Learning outcomes..

Financial Management enable me to define the suitable expense control structure and engineering in guaranteeing the quality administration and aggregate quality administration (TQM) of the whole development execution. Besides, this module allow me to understand the way to apply capital financing procedures in investing the expense and profit for specific development ventures. This module also enable me to organise the association, administration and worker's organization to upgrade inspiration and execution towards profession movement. In conclusion, this module provide the skills and knowledge that I need for my future career. 

Lessons Learned.. 

Financial management was taught by Sr Lee Wing Tey and Mr Chang Jau Ho. For this module, I was given a group assignment, I was divided into a group of seven people to complete the assignment.In the assignment, me and my group mates have to do a report about a corporation that we have chosen. This module gives me extra knowledge and also the ability to understand more the stock market.

Group Assignment

Nestle Malaysia Sdn Bhd is chosen for this assignment.Nestle Malaysia has one head office located in Mutiara Damansara, Petaling Jaya, Selangor with a total 9 factories which includes the manufacturing factory and distribution factory located across Malaysia and sales offices with more than 5800 employees nationwide. Nestle manufactures its own products in 7 factories and markets over 300 Halal products across the nation. Nestle is specialized in foods and beverages industry and has many well-known brands such as Maggi, Nescafe, Milo etc. Nestle also has other products such as health care nutrition food, junior food and coffee maker. Last year (2013), the turnover of the Nestle group is RM4.8 billion.

Measurement 5 [QSB 3114]

SCHOOL OF ARCHITECTURE • BUILDING • DESIGN

Centre for Modern Architecture Studies in Southeast Asia

Bachelor of Quantity Surveying (Honours)

Portfolio

(Semester 5 April 2014)

YVONNE LAI YEE VUN

(0304029)

Measurement 5

[QSB 3114]

Personal Information..

Name : Yvonne Lai Yee Vun

Student ID : 0304029

Date of Birth : 10th August 1992

Intake: July 2011

Semester : Semester 5, April 2014

Objective.. 

• To understand the clauses in the Malaysian Civil Engineering (MyCESMM)
• To understand the data from multiple sources including drawn information and be able to locate, extract and analyse it
• To develop an understanding of the principles of measurement in preparing the Bills of Quantities and Specification writing
• To extend and refine skills relating to the measurement and description of building works 
• To understand the Standard Method of Measurement in taking - off quantities 

Learning outcomes..

• To be able to interpret the clauses in the Standard Method of Measurement 2 (SMM2) for Electrical Installation, Cold Water Installation, Sanitary Installation, Fire Protection and Air Condition Installation 
• To be able to interpret the clauses in Malaysian Civil Engineering (MyCESMM)
• To be able to evaluate the relationship between Specification, Drawings and Bills of Quantities

Lessons Learned..

Measurement 5 was taught by Mr Simon Chee Wai Meng and Mr Ramar Subramaniam. I was taught by Mr Simon on how to use the Malaysian Civil Engineering (MyCESMM) book as a substitute to the Standard Method of Measurement 2 (SMM2) for some new elements such as Geo technical work and Rails. I was also taught by Mr Ramar about the installation parts that exist in the building such as cold water installation and electrical installation. For this module, I had a group assignment from Mr Ramar where me and my group mates had to measure the cold water system of a house. 

1. Measurement for cold water installation includes incoming pipe, fittings and ancillaries from the water meter up to the water tank and kitchen tap. 
2. Measurement of water tank inclusive of overflow and scour pipes, fittings and ancillaries. 
3. Measurement of distribution pipe, dropper, fittings and ancillaries to the Master Bath and Refuse Compartment.
4. Measurement of distribution pipe, dropper fittings and ancillaries to the Bath 1 and Bath 2. 

A test was given by Mr Simon regarding the Principle of MyCESMM and the first chapter which is Earthwork. Overall, the lessons learned throughout this module Measurement 5 was intriguing and it has giving me a wider view and knowledge regarding the new elements. 

Measurement Rule: MyCESMM

Earthworks:

• Discovering the needs and effects of earthworks
• Understand its method of construction and its rules of measurement at different cut-section areas
• Measurement Rule: MyCESMM

Environmental Protection & Enhancement:

• Discovering the functions and purposes of sediment basin & silt trap
• Understanding the measurement procedures for various sizes of sediment basins and silt traps
• Measurement Rule: MyCESMM

Soil Investigation:

• Discovering the purpose of soil investigation and its mechanism
• Purpose of soil investigation works: To obtain and understand the geotechnical information on the subsoil condition for the foundation and structure design of the project.
• Measurement Rule: MyCESMM

RE Wall (Geotechnical Work):

• Investigating the use and purpose of Reinforced Earth Wall
• To discover its method of construction and rules of measurement
• Measurement Rule: MyCESMM

Railtrack:

• Investigating the various components available in a series of rail track
• Understand the functions of single and double-tracking, together with its method of construction
• Measurement Rule: MyCESMM

  

 

Measurement rule : SMM2 

M&E (Electrical Installation):

• Investigating the electrical supply and its associated components
• Understand the process of electric supply and distribution within a building
• Measurement Rule: SMM2

Cold and Hot Water Plumbing Works:

• Discovering the cold water supply and its components
• Investigate the type of components utilized in the supply and distribution of cold water
• Measurement Rule: SMM2

Sanitary Piping and Appliances:

• Discovering the various components of sanitary piping and their method of installation
• Understand the functionality of each components and its procedures of measurement
• Measurement Rule: SMM2

Fire protection installation:

• Identify the various fire-protection equipments and components
• Understand the fire-protection system and each component’s functions
• Measurement Rule: SMM2

Air-conditioning installation:

• Investigate the various ducting components and its associated accessories
• Understand the process of air-conditioning
• Measurement Rule: SMM2

Building Economics [QSB 3214]

SCHOOL OF ARCHITECTURE • BUILDING • DESIGN

Centre for Modern Architecture Studies in Southeast Asia

Bachelor of Quantity Surveying (Honours)

Portfolio

(Semester 5 April 2014)

YVONNE LAI YEE VUN

(0304029)

Building Economics

[QSB 3214]

Personal Information..

Name : Yvonne Lai Yee Vun

Student ID : 0304029

Date of Birth : 10th August 1992

Intake: July 2011

Semester : Semester 5, April 2014

Objective.. 

• To develop an awareness of the impact of design variables in acquiring an economical design and the importance of quantity surveyor in pre-and post contract stages. 
• To create an awareness of the nature, content, and significance of cost control, cost planning and understand the roles of venture groups towards satisfying customer needs.  

Learning outcomes..

Building Economics enable me to understand the role and responsibilities of Quantity Surveyors in the overall development process and to match the relationship between cost and design to a value outcome.  Besides, this module allow me to explain the various methods of pre-tender estimating and to understand the importance of building economics to the construction world. This module also enable me to produce estimation and cost plan for financial planning to proposed project. In conclusion, this module provide the skills and knowledge that I need for my future career. 

Lessons Learned.. 

Building Economics was taught by Miss Dianne Kok Hui Wei and Sr Loo Seong King. For this module, I was given an individual assignment and a group assignment. For the individual assignment, I have to analyse whether the request by the client is reasonable and to explain what is the consequences based on time, cost and quality of awarding the tender based on the discounted percentage. 

For the second assignment, which is a group assignment, I was divided into a group of 6 people to complete the assignment. Our group assignment have been divided into two parts. The first part was where me and my group mates have to study an estimated cost plan in order to understand whether the price given is reasonable or not. We were ask to update and revise the attached cost plan to meet the marketing department requirement and the latest design requirement provided by the ARCHITECT. Then, the second part was where we have to produce a tender report for recommendation to the client and to provide reasons and supporting points for our recommendation  to convince the client. This subject was challenging and interesting at the same time because this subject enable me to understand the importance and the relationship of the building economics to the construction and how design and the construction plays an important role in ensuring the economics of the country is stable. As a Quantity Surveyor, we play an important role to give advises to the client on a better financial status.  

Tender report

               

               

Professional Practice 2 [QSB 3614]

SCHOOL OF ARCHITECTURE • BUILDING • DESIGN

Centre for Modern Architecture Studies in Southeast Asia

Bachelor of Quantity Surveying (Honours)

Portfolio

(Semester 5 April 2014)

YVONNE LAI YEE VUN

(0304029)

Professional Practice 2

[QSB 3614]

Personal Information..

Name : Yvonne Lai Yee Vun

Student ID : 0304029

Date of Birth : 10th August 1992

Intake: July 2011

Semester : Semester 5, April 2014


Objective.. 

• To understand and have sufficient knowledge regarding with the provisions of the PAM 2006 contract. 
• To understand the roles and responsibilities of every parties to the contract especially Quantity Surveying 
• To understand the limits, constraints and the rights of every parties that are subjected to the contract 
• To develop awareness of the provisions of the Standard Contract forms related to valuation and certificates, instructions and variations, daysworks and final accounts, extension of time and loss and expense

Learning outcomes..

• To understand the roles and responsibilities of every parties that are subjected to the contract To explain the construction contracts, the limitations and important details of clauses regarding to the construction contracts Professional Practice 2 was taught by Sr Lim Sek Cheon, or better known as Sr Eddie. An awesome lecturer who is really helpful and never fails to deliver what he needs to deliver to the students. This subject is the continuation of the previous subject, Professional Practice 1. In this module, I get to learn more about a specific contract that is normally used in Malaysia which is the PAM 2006 contract. This module really provide the skills and knowledge that I need for my future career. 

Lessons Learned..

• Construction Disputes 
• Construction Delays 
• Construction Claims
• Rights of Setting Off
• Partial Possession by Employer 
• Practical Completion and Penultimate Certificate 
• Final Accounts 
• Determination of Contractor's Employment by Employer 
• Determination of Contractor's Employment by Contractor 
• Building  Insurances
• Dispute resolution through Mediation/ Adjudication/ Arbitration 
• Comparison between PAM and JKR form on contract 

Delays and Disputes:

• Delays that occur during construction of works which causes the Completion Date to be breached constitutes as a construction delay.
• Categories of delay: Delays caused by Contractor; Employer; or Third Parties (Neutral Events)
• Clause 23.8 (a)-(w) of the PAM Form of Contract 2006 list the legitimate Relevant Events
• Identifying and understanding the procedures, contractual effects, and principles of granting EOT

Construction Claims:

• Construction claims entitles the Contractor to claim for loss & expense if the Employer causes delay to the regular progress of the Works and the delays have materially affected the Works
• Types of Claims: Contractual Claims, Extra-Contractual Claims, Ex-Gratia Claims
• Discovering and understanding the procedures, conditions, and general principles of loss and expense claims

Determination:

• Types of determination: Determination of Contractor’s employment by Employer; Determination of Own Employment by Contractor
• Identify the relevant clauses of determination ( Clause 25.2 & 26.2) under the provisions of PAM Form of Contract 2006
• Understand the procedures, rights and duties of Employer and Contractor upon determination 

Construction Insurances:

• Indemnity against injury or death - Employee Social Security Scheme (SOCSO) provided under Clause 19.2
• Workmen Compensation Insurance provided under Clause 19.3
• Foreign Worker’s Compensation Scheme Insurance provided under clause 19.4
• Contractor All Risk Insurance (CAR) provided under clause 20
• Understand the different contractual implications and effects of different insurance policies

Dispute Resolution:

• Methods of Dispute Resolution: Mediation; Adjudication; Arbitration; Litigation
• Understand the characteristics, functionality and contractual implications of each dispute resolution method
• Recognise the roles and responsibilities of the Employer and the Contractor in each type of dispute resolution method
• Discovering the powers and jurisdictions of a Mediator, an Adjudicator, an Arbitrator, and a Judge

I had also to give a seminar to my tutorial classmates on the topic Final Accounts. For the coursework 2, which is a group assignment, I was divided into a group of 6 students to complete the assignment. The questions were related to the PAM 2006 contract so we have to understand clearly and give reasons on why we chose a certain clauses as our decision. I have gained a lot of knowledge in both assignment and seminar.