MQM1LPL-Leading the Property Lifecycle

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2023/4

Module Convenor: Prof Gianluca Marcato
Email: g.marcato@henley.reading.ac.uk

Type of module:

Summary module description:

This module presents the property life cycle, providing an in depth understanding of the different phases and roles involved in the investment, management and construction of real assets and portfolios. Particular focus will be given to commercial real estate with aspects of infrastructure and residential properties / market dynamics. This will enable students to see the whole property life cycle and further understand the decision-making process. As part of this module, students will also be able to process key information to influence and engage in decision making at the most senior levels.

Aims:

This module aims to ensure that leaders are familiar with all the different phases of the property life cycle. This will include understanding the key functions and roles involved in the process from planning to investment, as well as aspects of financing, economics, asset, and corporate management. Consideration will be given to the impact market behaviour may have on these different phases. This module will also aim to recreate a decision-making environment to broaden and deepen the understanding of the process and to learn how to engage more effectively with a diverse range of stakeholders.

Assessable learning outcomes:

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

• Understand the academic principles surrounding the property lifecycle


• Identify critically reflective examples from their own practice that evidence their knowledge and understanding of the key concepts and theories


• Identify all key roles and functions in the property lifecycle beyond their particular expertise and be able to apply this knowledge ina practical way


• Identify key steps in the decision-making process related to real assets and markets 


• Process information to extract relevant evidence for enhanced decision-making


• Effectively engage in the decision-making process with senior stakeholders.

Additional outcomes:

The student will be able to:

• Work in a group of peers to leverage a range of expertise 


• Assess operational issues with a strategic approach


• Improve presentation and communication skills


• Communicate technical concepts to non-technical audience. 

Outline content:

The module will use a mixture of brief lectures, group discussions and case studies as stimulus to identify key phases and issues of the property lifecycle such as: planning, development, financing, asset management, valuation/pricing, and portfolio management at corporate/departmental level. These issues will be considered from an asset, portfolio, and policy perspective, building up the complexity which needs to be addressed in the real world.

Issues and key roles within each phase of the property lifecycle will then be discussed and deepened in facilitated groupwork. This will culminate in a ‘true to life’ decision-making environment which will allow students to process key information and present valid cases in support of specific decisions to be taken.

As part of a guided interaction in group discussions and the presentation, students will also develop interpersonal skills to be able to communicate technical concepts to a non-technical audience and to influence decision-making.

Global context:

The programme has been commissioned by the Cabinet Office for the UK Government property profession which extends from government departments into the wider public sector such as the NHS etc. However, the issues facing the government property profession are not insulated or isolated from the global context. We will be drawing from the group insight as well as our own expertise to consider the wider implications for the profession in the globally interconnected world in which we live and work.

The course will also refer to and develop skills and understanding of key global concepts related to the topic, such as sustainability and compliance with environmental, social and governance impact, as well as the impact of COVID on the behaviour of markets, demand in the different sectors and the management of owner-occupied buildings.

Brief description of teaching and learning methods:

• Independent study and blended learning


• Self-assessment


• Faculty input from subject matter experts


• Plenary and small group discussion


• Peer-to-peer learning


• Practice presentations


• Peer/tutor/stakeholder feedback


• Group coaching


• Reflective writing. 

The module is delivered with a blended learning methodology. Firstly, stu dents will access online content containing brief videos, texts and references detailing core concepts and guiding them through the learning path. Alongside theory, a presentation of case studies will also be included  to provide stimulus and support the more detailed analysis of participants’ own real-world cases. 

After this online delivery, students will attend a three-day workshop, where theoretical concepts will be recalled and inserted within the work and discus sion on case studies that will be used to present the different phases of the property lifecycle. Particularly, after an exploration of key issues to be analysed and discussed, students will be asked to work in groups and the main lecturer, alongside a facilitator, will support the learning by engaging the groups in teamwork and peer-to-peer learning. Students will also engage and learn about how to influence the decision-making process and how to extract and communicate relevant information to senior stakeholders. Throughout the three-day workshop, they will gather for discussions that will be used to embed key concepts and knowledge as   part of the learning path. The group will engage with key stakeholders and receive feedback on their ability to influence at the most senior levels.

After the workshop, students will then be required to apply their learning within an assignment which blends theoretical concepts with real world insight and application. As to faci litate a continuation of the peer-to-peer learning, students will be suggested to continue to work in groups for information gathering and discussion. A group coaching element will facilitate the peer-to-peer learning and develop the critical reflection skills required at this level. Each student will bring their chosen topic to the group and will receive questions, observations, and supportive challenge to deepen their thinking and understanding. Group surgery sessions on the content of the wri tten assignment will be provided throughout the following weeks until the assignment hand-in date. Students will also learn by applying key concepts in their work environment and the contact points mentioned above will enable verification of this  action-based learning.

 

Contact hours:

	Autumn	Spring	Summer
Lectures		8
Seminars		12
Practicals classes and workshops		12
Work-based learning		20
Guided independent study:
Wider reading (independent)		28
Peer assisted learning		10
Advance preparation for classes		10
Group study tasks		20
Essay preparation		80
Total hours by term	0	200	0
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Written assignment including essay	70
Oral assessment and presentation	30

Summative assessment- Examinations:

Summative assessment- Coursework and in-class tests:

Group presentation and discussion during the three-day workshop – 30%

Individual written assignment (max. 3,000 words) – 70%

Formative assessment methods:

Collaborative work, group presentations and discussions will be used during the three-day workshop. During the following weeks, group surgery sessions and coaching sessions will also be important opportunities to reflect on the learning and receive feedback on the learning path.

Penalties for late submission:

The below information applies to students on taught programmes except those on Postgraduate Flexible programmes. Penalties for late submission, and the associated procedures, which apply to Postgraduate Flexible programmes are specified in the policy “Penalties for late submission for Postgraduate Flexible programmes”, which can be found here: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmissionpgflexible.pdf
The Support Centres will apply the following penalties for work submitted late:

• 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 five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

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

Assessment requirements for a pass:

Average mark 50%

Reassessment arrangements:

Individual written assignment 100%

Additional Costs (specified where applicable):

Last updated: 23 June 2023