Construction economics and management brings together the areas of technology, economics and law.
The research area of construction economics is hence interdisciplinary and closely aligned with the construction process. Tenders, tender awards, pricing and cost calculation, cost planning, project management and controlling and special construction themes is the spectrum of subjects covered by this department. Particular importance is placed on the recognition of the future consequences of a chosen path of action. What is the effect of a construction contract on the risk involved in the process or how can the relationship between the development of costs and the construction timetable of a project be used to shed light on the financial consequences of unexpected changes in progress on site?
This department is focussed on applied research. This stretches from interdisciplinary themes in the areas of construction economics and contracts and tenders to the investigation of the financial effects of design factors and the analysis of projects, project organisation, cost information and timetable planning.
Our initial courses offer each constructional engineer the basic information essential for the development of a project. Hence: construction economics and the laws governing construction and technical plant as well as cost and timetable planning are our basic subjects. In this sense our teaching seeks to develop a broad general knowledge - from basic contract and tender law via construction law to cost planning from the point of view of the client and the calculation of costs and prices from the point of view of the contractor.
On the basis of these initial studies, more specialist subjects are offered in the masters degree "Construction economics and geotechnology". Here, the focuses include:
Economic aspects developed from general economic teaching, pricing and cost calculations, pricing simulation, company management and company planning. The study of the effects of alterations in the site timetable raises the issue of the management of supplementary payments - which is the subject of a seminar in its own right.
The seminar "Management and Development of Construction Projects", which addresses the design and management process, is complemented by a special course which examines construction contracts and development models in detail up to the level of PPP projects.