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28 March 2018 Photo Supplied
Building programmes receive accreditation
The vision for the UFS Department of Quantity Surveying and Construction Management is to be the preferred choice for built environment students and the preferred provider of built environment graduates.
In 2017 the South African Council for the Project and Construction Management Professions (SACPCMP) visited the Department of Quantity Surveying and Construction Management at the University of the Free State (UFS), to re-accredit programmes offered by the department.

In January 2018 the department received the news that the SACPCMP granted full accreditation for the next five years (January 2018 to December 2022) for the programmes BSc Construction Management; BSc Hons Construction Management; and Master’s in Land and Property Development Management (Project Management specialisation).

The South African Council for Property Valuation Profession (SACPVP) also granted conditional accreditation for the Master’s in Land and Property Development Management (MLPM) (valuation specialisation) programme.

The value of accreditation
According to Prof Kahilu Kajimo-Shakantu, Head of the Department of Quantity Surveying and Construction Management, it means the department is recognised as a certified place of learning offering a certified programme mix recognised by the SACPCMP as meeting its standards. It further means that the department, via its programmes, is able to produce graduates who are “fit for purpose”, technically competent, and have developed and can demonstrate a range of skills.

She added: “Having accredited programmes makes our programmes attractive, with wider employment opportunities. It certifies that our graduates from the Construction Management programme are qualified and competent. They have achieved a minimum level of competence to embark on the journey to practise professionally.”

Achieving and maintaining programme accreditation from the respective national and international professional bodies is the ultimate goal for the department. “This hallmark of quality reflects the university’s aspiration towards excellence,” Prof Kajimo-Shakantu said.

On offer at the department
The department offers BSc in Construction Management and BSc Hons in Construction Management and BSc Quantity Surveying and BSc Hons Quantity Surveying respectively.  These programmes are offered both on residential (full time) as well as via compact mode of delivery (block sessions) for those already working in the construction industry but who wish to obtain or further their educational qualifications. 

At master’s level, the department offers a structured Master of Land and Property Development Management Programme (MLPM) with specialisation in either Valuation or Project Management. Other programmes on offer are the following   master’s and doctoral programmes, namely; MSc Construction Management, MSc Property Science and MSc Quantity Surveying and PhD Construction Management, PhD Property Science and PhD Quantity Surveying respectively.

“My vision for the Department of Quantity Surveying and Construction Management is to be the preferred choice for built environment students and the preferred provider of built environment graduates,” said Prof Kajimo-Shakantu.

“Construction Management programmes, like the other programmes we offer, lead to exciting, challenging and rewarding careers in the construction industry and beyond. Our graduates are also highly sought-after by built environment employers nationally and internationally,” she concluded.

News Archive

Producers to save thousands with routine marketing strategies, says UFS researcher
2014-09-01

 

Photo: en.wikipedia.org

Using derivative markets as a marketing strategy can be complicated for farmers. The producers tend to use high risk strategies which include the selling of the crop on the cash market after harvest; whilst the high market risks require innovative strategies including the use of futures and options as traded on the South African Futures Exchange (SAFEX).

Using these innovative strategies are mostly due to a lack of interest and knowledge of the market. The purpose of the research conducted by Dr Dirk Strydom and Manfred Venter from the Department of Agricultural Economics at the University of the Free State (UFS) is to examine whether the adoption of a basic routine strategy is better than adopting no strategy at all.

The research illustrates that by using a Stochastic Efficiency with Respect to a Function (SERF) and Cumulative Distribution Function (CDF) that the use of five basic routine marketing strategies can be more rewarding. These basic strategies are:
• Put (plant time)
• Twelve-segment pricing
• Three-segment pricing
• Put (pollination)(Critical Moment in production/marketing process), and
• Pricing during pollination phase.

These strategies can be adopted by farmers without an in-depth understanding of the market and market-signals. Farmers can save as much as R1.6 million per year on a 2000ha farm with an average yield.

The results obtained from the research illustrate that each strategy is different for each crop. Very important is that the hedging strategies are better than no hedging strategy at all.

This research can also be applicable to the procurement side of the supply chain.

Maize milling firms use complex procurement strategies to procure their raw materials, or sometimes no strategy at all. In this research, basic routine price hedging strategies were analysed as part of the procurement of white maize over a ten-year period ranging from 2002–2012. Part of the pricing strategies used to procure white maize over the period of ten years were a call and min/max strategy. These strategies were compared to the baseline spot market. The data was obtained from the Johannesburg Stock Exchange’s Agricultural Products Division better known as SAFEX.

The results obtained from the research prove that by using basic routine price-hedging strategies to procure white maize, it is more beneficial to do so than by procuring from the spot market (a difference of more than R100 mil).

Thus, it can be concluded that it is not always necessary to use a complex method of sourcing white maize through SAFEX, to be efficient. By implementing a basic routine price hedging strategy year on year it can be better than procuring from the spot market.

Understanding the Maize Maze by Dr Dirk Strydom and Manfred Venter (pdf) - The Dairy Mail


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