93694 - Cost Analysis M

Learning outcomes

The teaching module “Valutazione Economica dei Progetti”, included in the integrated course of “Cantieri edili”, builds on the basic appraisal and evaluation knowledge acquired during the Bachelor’s Degree programme in Architettura-Ingegneria.

PREREQUISITES

Basic knowledge of appraisal and financial mathematics is required to attend this course. Basic knowledge of electronic spreadsheets, particularly Microsoft Excel, is also recommended.

LEARNING OUTCOMES

By the end of the course, students will be able to:

• prepare and critically interpret a detailed Bill of Quantities and Cost Estimate;
• prepare a unit price analysis for materials and work items that are not included, or are not adequately represented, in official price lists;
• compare design alternatives and investment scenarios using economic and strategic evaluation tools.

TRANSVERSAL LEARNING OUTCOME

Students will be able to communicate the assumptions, sources, calculation procedures and evaluation results in a clear, well-reasoned and verifiable manner.

Course contents

Each class includes a theoretical component and a practical component covering the following main topics.

1. Detailed estimation of project costs

• Unit price analysis;
• detailed Bill of Quantities and Cost Estimate — Computo Metrico Estimativo (CME);
• overall project cost framework.

2. Technical and economic feasibility

• Current Italian Public Contracts Code, with reference to the Technical and Economic Feasibility Project, cost estimation and the overall project cost framework;
• Technical and Economic Feasibility Project — Progetto di Fattibilità Tecnico-Economica (PFTE);
• Cost-Revenue Analysis and Cost-Benefit Analysis, through the further development and application of knowledge acquired in the Estimo-T course;
• Financial Payback Plan — Piano di Rientro Finanziario (PRF);
• sensitivity analysis and introduction to the economic and financial risk analysis of the project.

3. Strategic project evaluation

• Multi-Criteria Analysis (MCA);
• Public Benefit Assessment — Valutazione del Beneficio Pubblico (VBP).

4. Presentation of real-world case studies

• Application of the detailed Bill of Quantities and Cost Estimate to building projects with different intended uses;
• Multi-Criteria Analysis for assessing critical issues in complex building projects;
• assessment of ecological and environmental provisions by integrating the detailed Bill of Quantities and Cost Estimate with Multi-Criteria Analysis.

COURSEWORK University of Bologna students

Working in groups, students must prepare a detailed Bill of Quantities for an architectural or urban project developed to a level of detail between the former final design and detailed design stages.

As a rule, the case study is the project developed by students as part of the Architectural Technology course. Building on the Work Breakdown Structure developed in the Construction Site Management M module, students hierarchically break down the project in order to identify the categories and work items to be included in the cost estimate, determine their quantities and assign the corresponding unit prices.

Students from other Master’s Degree programmes, other Italian universities or international mobility programmes

Students enrolled in other University of Bologna degree programmes, other Italian universities or international mobility programmes may use a different project, provided that it has a level of detail suitable for the detailed determination of the main quantities and costs. The project must be approved in advance by the teaching staff.

Readings/Bibliography

The slides and case studies support the individual study of the recommended texts and do not replace them.

Additional legislation, scientific articles, guidelines and supplementary materials will be made available on the Virtuale platform.

Bibliographical references

Copiello, S. (2011), Progetti urbani in partenariato. Studi di fattibilità e piano economico finanziario, Alinea Editrice, ISBN 978-88-6055-264-8.

Del Giudice, V. (2015), Estimo e valutazione economica dei progetti. Profili metodologici e applicazioni al settore immobiliare, Iniziative Editoriali, ISBN 978-88-99306-03-8.

Legislation and technical references

Italian Legislative Decree No. 36/2023, Public Contracts Code. Url

2026 Public Works Price List of the Emilia-Romagna Region. Url

Teaching methods

Teaching activities are conducted in person, except in exceptional circumstances. Course materials are made available in advance on the Virtuale platform.

Classes include both a theoretical and an applied component and may include seminars delivered by specialists. The coursework is developed in groups, mainly during in-class activities. Periodic public reviews are organised to allow students to compare different approaches and procedures and to identify the most common errors.

Electronic spreadsheets and specialised software will be used during the activities. At the beginning of some classes, brief self-assessment activities may be proposed through Wooclap on the topics covered in previous classes. These activities are exclusively formative, do not constitute mid-term assessments and do not contribute to the final grade.

Contacting the teaching staff: Monday to Friday, 9:00 a.m.–6:30 p.m.

Assessment methods

The VEP-M teaching module requires the completion of group coursework and an individual semi-structured written examination.

EXERCISE 

The coursework consists of preparing a detailed Bill of Quantities and Cost Estimate for an architectural or urban project developed to a level of detail between the former final design and detailed design stages.

The coursework is developed in coordination with the Construction Site Management M module. The same project is analysed from organisational, scheduling, technical and economic perspectives through separate but mutually consistent deliverables.

Building on the Work Breakdown Structure developed in the Construction Site Management M module, students hierarchically break down the project in order to identify the categories and work items to be included in the cost estimate, determine their quantities and assign the corresponding unit prices.

Software: Excel / ACCA PriMus / Revit, where a BIM model is available.

For the coursework to receive a passing grade, the submission must meet the following assessment criteria:

• consistency: correspondence between the project, the breakdown of the works, the work items and the structure of the CME;
• accuracy and traceability: quantities, prices and amounts must derive from visible and verifiable sources, formulas and procedures;
• completeness: inclusion of all required components and incorporation of the feedback provided during reviews;
• reliability of sources: appropriate use of official price lists and verifiable technical sources;
• readability: clarity of technical language, organisation of data and graphic quality of the deliverables;
• timeliness: the group submits the coursework by the end of the course;
• autonomy and participation: the group’s ability to justify its choices, critically incorporate feedback and revise the deliverables.

The VEP-M coursework is developed and submitted as a group. The grade awarded to the coursework is assigned to the group members listed in the submission.

Once a grade of at least 18/30 has been obtained, each student may register individually for any available VEP-M examination session, independently of the other group members, provided that the written examination is taken by the end of the relevant academic year.

SPECIFIC LEARNING DISABILITIES OR TEMPORARY OR PERMANENT DISABILITIES

Students with specific learning disabilities or temporary or permanent disabilities are advised to contact the relevant University office well in advance:
https://site.unibo.it/studenti-con-disabilita-e-dsa/it

The office will propose any appropriate adjustments for the students concerned. These adjustments must, in any case, be submitted to the lecturer for approval at least 15 days in advance. The lecturer will assess their suitability, also in relation to the learning outcomes of the course.

USE OF ARTIFICIAL INTELLIGENCE (AI)

During the preparation of the coursework, limited, declared and non-substantial use of generative artificial intelligence tools is permitted for supporting activities.

AI may not replace the appraisal activities, calculations, selection of sources or critical assessments required of students. Any use of AI must be declared in a note attached to the coursework, indicating the tool used, the purpose of its use and the parts of the submission concerned.

The use of AI is prohibited during the written examination and during any individual activities intended to verify or validate the coursework.

VEP-M EXAMINATION — WRITTEN TEST

The individual semi-structured written examination lasts 90 minutes and includes multiple-choice questions, open-ended questions and applied problems.

Each question is worth between 1 and 3 points, depending on its type and level of complexity, as indicated in the examination paper. The overall score is expressed on a scale of 30. Incorrect or unanswered questions receive 0 points.

A minimum overall score of 18/30 is required to pass the examination. The highest possible grade for fully correct and complete answers is 30/30, with honours awarded where applicable.

The use of a scientific calculator is permitted during the written examination. Slides, books, notes, computers, tablets and devices capable of connecting to the internet or accessing artificial intelligence tools are not permitted. The use of unauthorised materials or devices will result in the examination being annulled.

Students who do not pass the written examination may register for a subsequent examination session within the same academic year without resubmitting the coursework.

ASSESSMENT VEP-M TEACHING MODULE

The VEP-M grade is expressed on a scale of 30 and is calculated as the weighted average of the coursework grade, accounting for 60%, and the written examination grade, accounting for 40%.

The minimum grade required to pass VEP-M is 18/30. The highest possible grade is 30/30 with honours.

18–20: essential knowledge of the course contents and application of basic procedures, with some uncertainty in calculations, the use of sources or the interpretation of results.

21–23: adequate knowledge and correct application of the methods; generally consistent and understandable deliverables, although with limited critical autonomy.

24–26: good command of appraisal and evaluation methods; accurate calculations, appropriate use of sources and the ability to interpret results with a reasonable degree of autonomy.

27–29: very good preparation; full methodological accuracy, good critical ability, autonomy in applying procedures and clarity in justifying choices.

30–30 with honours: complete and in-depth preparation; full command of the methods, a high level of critical and applied autonomy, the ability to establish connections between the different course topics, and the ability to communicate results and choices rigorously, clearly and verifiably.

CONSTRUCTION SITES LABORATORY

The overall grade for the Construction Sites Laboratory is calculated as the average of the grades obtained in the two teaching modules, weighted according to their respective ECTS credits.

Teaching tools

Projector, laptop computer, presentations and materials prepared by the teaching staff, the Virtuale platform, Wooclap, electronic spreadsheets and specialised software for quantity surveying, cost estimation and building information modelling.

Students are encouraged to bring their own laptop to class in order to participate in applied activities, develop the group coursework and take part in periodic reviews.

Office hours

See the website of Vanessa Assumma