Embedding Employability in the Postgraduate Real Estate Education Experience: A Case Study of Intent

Presented by:Steven B Tyler and Alistair FlemingNottingham Trent University, Nottingham, UK.

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Growth in Postgraduate Real Estate Education Provision and Take-up

•RICS figures show a marked increase in the number of ‘starters’ on RICS accredited programmes since 2000. Table 1 refers.

•RICS figures show a marked increase in the number of RICS accredited programmes since 2003. Table 2 refers.

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‘Starters’ on RICS Accredited Programmes

Table 1: RICS ‘Number of Starters’ Data 2000-2008

Level of

Course

Sept

2000

Sept

2001

Sept

2002

Sept

2003

Sept

2004

Sept

2005

Sept

2006

Sept

2007

Sept

2008

% age

increase

on 2000

Undergraduate 2,949 2,572 2,554 2,688 3,064 3,660 3,727 4,031 4,258 +44

Postgraduate 419 1,363 1,805 2,354 2,917 3,609 4,697 4,716 4,852 +1,058

Totals 3,368 3,935 4,359 5,042 5,981 7,269 8,424 8,747 9,110 +171

% PG 12 35 41 47 49 50 56 54 53 342

Source: RICS

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Number of RICS Accredited Programmes

Table 2: RICS ‘Number of Courses’ Data 2003-2009

Level of Course 2003 2004 2005 2006 2007 2008 2009

Undergraduate (UK) 138 150 139 123 123 121 126

Undergraduate (World Total excluding I reland)

193 219 219 207 225 223 212

Postgraduate (UK) 129 153 159 175 204 220 263

Postgraduate (World Total excluding I reland)

194 194 210 232 281 315 335

Source: RICS

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Issues relating to Growth in Postgraduate Provision

•Large growth in number of non-cognate entrants to the profession in recent times through growth in masters programmes.

•More limited timeframe for specialist PG real estate education in preparation for eligibility for APC entry i.e. 1,800 hours at PG compared with 3,600 hours at UG (plus placements).

•Lots to do at PG level in a limited time.

•Expectation that programmes will help prepare students for employment within the real estate profession – and help develop and enhance their employability, making them fit for purpose.

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Other Drivers

•In UK, the generation of employable graduates (both in terms of number and quality) is one of the key goals of the UK Government’s high level skills strategy.

•Audit taking place within Universities to assess the contact that students [both undergraduate and postgraduate] have with employers, and containing examples of careers education and work place skills that students can develop throughout the duration of their course.

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Other Drivers

•RICS’s current proposals to amend existing Employment Threshold, converting it to an Employability Threshold instead. This is a move away from employment metrics to how students are being prepared for employment during their studies.

•RICS focus on generic competencies and skills which include|; self-management, team working, communication, numeracy, and application of information technology.

•Difficult economic climate and highly competitive real estate employment market.

•A need and desire to prepare students for employment – as best we can.

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The Response at NTU

•Review of post graduate masters suite in Real Estate and Construction in 2008/2009.

•Revised MSc Suite in Real Estate and Construction comprises four named awards operating on a common framework. Programmes are: MSc Building Surveying MSc Planning and Development MSc Quantity Surveying MSc Real Estate

• Included in each of these programmes is a common module focused on developing employability skills and professional engagement; the module is called ‘Professional Practice’.

•Employability skills development is not ‘left to chance’.

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Developing and Embedding Employability• A wider range of measures seek to help develop student

employability; these include: Incorporation within taught modules of essential key values in professional

practice, for example ethics and standards. Presentations within taught modules by real estate practitioners. Activity within modules simulating professional practice. Site visits and talks with practitioners. Research related to preparation of a dissertation or consultancy project. On-line resources supporting personal development planning. Careers guidance and counselling, careers and employment fairs. Engagement with the RICS and promotion of student membership and

commencement of the RICS Assessment of Professional Competence for students in relevant employment studying by part-time mode.

Study of a dedicated module focused on developing aspects of employability and providing opportunity for engagement with the profession and professional practice, namely the Professional Practice module.

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The Professional Practice Module

The module provides opportunity for students to:

•Engage in activity that will enable them to integrate, apply and embed a range of professional knowledge, understanding and skills developed during their studies.

•Experience, in real or simulated form, the management and execution of a complex real estate/construction related assignment; such experience may also involve elements of activity that are of an interdisciplinary and/or work based nature.

•Work collaboratively with peers and colleagues as necessary to achieve a professional and effective solution to the task/assignment undertaken.

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Professional Practice: Module Learning Outcomes – Knowledge and Understanding

•On successful completion of the module it is expected that students will have demonstrated that they are able to:Critically evaluate and conduct (plan, organise, supervise, complete) a complex professional assignment relevant to practice within their chosen programme discipline, demonstrating appropriate technical and theoretical knowledge, understanding, frameworks and skills as required.

Analyse, evaluate and apply critical insight into principles of professional practice as applied within real estate and/or construction professions and/or industries.

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Professional Practice:Skills, Qualities and Attributes

• Activities and studies within the module are such that they will help students to develop important generic skills, qualities and attributes. On completion of the module it is expected that students will have demonstrated that they are able to: Collect and integrate information and data from a variety of sources,

analyse, evaluate and interpret complex factual information and issues in a systematic, critical and creative manner, and evaluate alternative processes/measures against relevant criteria; make logical recommendations based on analysis of the information and circumstances. (Analytical and numerical skills)

Identify and solve problems; generate new ideas, innovations and/or solutions for problem resolution where appropriate. (Problem-solving skills)

Communicate information, ideas and concepts effectively in clear, articulate fashion, utilising information technology and aids where appropriate. (Communication skills)

Utilise developed personal and interpersonal skills and competencies, and work constructively and cooperatively with others, applying ethical and professional values to situations encountered. (Interpersonal and team working skills)

Act autonomously in planning, organising and directing their personal academic and professional development. (Independent study skills)

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Developing and Embedding Employability Skills:The Professional Practice Module

•The Challenge.

•The Module.

•The Solution.

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The Challenge

•A large proportion of students entering professionally accredited postgraduate programmes in the fields of real estate and construction have little, if any, direct relevant work based experience of the operation and nature of practice within these industries and professions.

•Many, if not most, entrants to such programmes of academic study at postgraduate level generally hold a first degree in a non or semi related or cognate subject area.

•Given this limited exposure and experience of professional activity and practice, and the ‘fast track’ nature of these postgraduate, often Masters programmes, it is essential that they provide opportunity for students to develop experience of, and employment skills, in their chosen field of specialisation within the built environment sector.

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The Module

Seeks to help:

•Embed the development of relevant skills in a very intensive programme of study, having an underlying ethos of learning through doing.

•Balance the need to provide for both academic/theoretical development and practical skills development.

•Develop a coherent appreciation and understanding of aspects of professional practice, and provide an opportunity for direct or simulated exposure to practice within the industry, profession, and/or workplace.

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The Solution

•Professional Practice Module creates three opportunities for our Postgraduate Students.

•The three options, of which the students may chose only one, are diverse, but are all of equal value; the options are:An overseas residential group activity.A Nottingham based group activity.A short term industry placement including negotiated consultancy assignment.

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•Location – Prague in the Czech Republic – Why Prague? The commercial property market in Prague is performing

well despite the prevailing economic conditions. The property market in the Czech Republic is one of the

most mature and best performing in Central and Eastern Europe, supported by a stable, successful economy.

Extensive direct foreign investment, with over 10 billion Euros flooding into the country since 2006, mainly from Germany, Japan and the US.

This inward investment has allowed the industrial base in the country to shift from manufacturing to the higher paid IT and logistics industry, as well as car production.

An exciting place to study!

Overseas Residential Group Activity

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•There are strong existing links between both the United Kingdom and the United Kingdom surveying profession.

•Strong NTU alumni and student placement links.

•Consultancies that have a presence in Prague include:

International Companies in Prague

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The Activity/Task

•The focus of the task is an undeveloped site within the Prague metropolitan area.

•The site is extensive and has the scope and potential to be used to pose the multidisciplinary group of students with a range of challenges pertinent to the particular course.

•The subject site has issues relating to planning and land use, contaminated land, listed buildings, infra structure, transportation and development constraints, and project finance and phasing.

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The Activity/Task

• Students will assume the role of an independent real estate consultancy, invited to advise a high net worth client who has limited prior knowledge or experience of site acquisition and development in the Central and Eastern European region.

• Students will work in a multi-disciplinary team, assembled specifically to: Value the site for acquisition. Identify any potential barriers to development. Evaluate a range of development options, adopting a ‘highest and best use’

approach, incorporating detailed development appraisal. Produce a detailed development proposal for the preferred development

option. Provide advice as to costs, values, and phasing. Advise on realistic timescales and programme planning. Evaluate and advise on development risk. Advise as to possible disposal/retention strategy.

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The Activity/Task

•In the weeks leading up to the field activity in Prague, project briefings in the UK will focus on the areas of expertise needed to carry out the project.

•Information relating to the subject site will be provided. Project groups will be expected to undertake preliminary research themselves prior to the site visit into the nature of the Czech and Prague real estate and construction market.

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The Activity/Task

• Whilst in Prague, each group will have a ‘Mentor’ from a professional firm operating in the City.

• It is envisaged that the mentor companies will accommodate the groups for limited periods during the visit and facilitate access to internet, email, word processing and printing facilities.

• Additionally it is planned that a member of staff from the mentor company will be available, ‘on-call, to offer guidance to the groups and point them in the right direction as regards to the local market, demand profiles, land costs, values and time scales etc.

• In the final stage of the visit, each group will meet with a representative of their ‘Mentor’ company to run through the proposals and findings developed. The depth, coherence and extent of the team’s work will form part of their final assessment.

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The Activity/Task

•Once back in the United Kingdom, each group will then be required to produce a extensive report on the site,

accompanied by a group presentation to peers and staff.

•After a period of reflection, the individual members of the team will also produce an individual report, critiquing the

week and reflecting on their individual performance.

•An element of the mark allocation for the module will be attributed to the level of professionalism and

commercial awareness shown by the students throughout their time in Prague.

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•For Students who are either unable or prefer not to visit Prague, a substitute group based activity has been arranged in Nottingham.

•The activity will take the form of a multidisciplinary development project, similar to that undertaken in Prague.

•Students will be required to evaluate development options for a substantial site in Nottingham.

•The nature, scale and diversity of the activity will be similar to and on par with that proposed for Prague.

•The project will incorporate similar opportunity for student engagement with industry and the profession, and provide a ‘window’ into professional practice.

Nottingham Group Based Activity

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Industry Placement/Negotiated Consultancy Report

• Is a contrasting alternative to the group based activity, yet provides a framework and mechanism for achieving the same

module learning outcomes.

• It provides a valuable alternative for those students who wish to experience real life practice and work environment in the

real estate and construction sector.

•Students will be placed with an employer for a period of at least 10 working days.

•Placement could be for a period of two consecutive weeks, or might be one day per week for 10 weeks, or some other

combination.

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Industry Placement/Negotiated Consultancy Report•Whilst on placement, students will experience working with

the placement company and will undertake research which will contribute to the preparation of a consultancy report.

•The nature of the report will be the subject of agreement between the student, employer and module leader.

•Tasks undertaken must be capable of enabling the student(s) to meet the learning outcomes of the module.

•Assessment of the written report will be supplemented with additional assessment which will include assessment of professionalism and commercial awareness during placement, presentation to peers (possibly through poster presentation), and reflective commentary on the undertaking.

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Summary and Concluding Commentary

• Whilst enhancing employability of students has been integral to the vocational aspirations of surveying related degree programmes since their inception, recent initiatives have focused attention on this aspect of course provision.

• The programme team for the Masters Suite in Real Estate and Construction at Nottingham Trent University, Nottingham, UK has taken the opportunity to more explicitly build into its programmes opportunity for a greater level of student exposure to professional practice and engagement with the real estate and construction industries.

• Completion of the Professional Practice module will help our students to more effectively develop and embed knowledge, understanding and skills important to future employability and success in the real estate and construction industries. No doubt time will tell how effective this model is..

• We hope to report on this and update next year!

• Thank you for listening.

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Thoughts

•What are the skills that enhance employability?

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Thoughts

•How do you assess:Self management.Team working.Communication between team members.Leadership.Professionalism and commercial awareness.Personal and interpersonal skills.

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Thoughts

•What other ways are there of developing and embedding employability skills.

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•Any other thoughts or questions?

Embedding Employability in the Postgraduate Real Estate Education Experience: A Case Study of Intent

Presented by:Steven B Tyler and Alistair FlemingNottingham Trent University, Nottingham, UK.