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Quantity Surveyors Play a Major Role in Any Construction Project
The quantity surveyor is in charge of calculating the precise cost of a construction project. They also play other functions, including as ensuring that manufacturing and construction expenditures are handled as effectively as feasible.
Because they create a "schedule of quantities" – an estimate of the material and labour costs — that may be used to compare contractor bids, quantity surveyors are given this title. (Contractors aren't chosen just based on price, though.) A cost estimate is another name for the schedule.
Quantity surveying professionals may also be referred to as estimators, cost engineers, cost managers, cost analysts, project coordinators, project cost controllers, and cost planners.
The primary duties of a quantity surveyor are:
• handling the finances for any form of construction project, including those for homes, high-rise buildings, bridges, and tunnels.
• putting in effort to complete the assignment on schedule
• attempting to maintain the project within its allocated budget
• ensuring that manufacturing and construction expenses are managed as effectively as feasible.
• settling disagreements between parties to a contract.
• creating insurance replacement cost estimates for various types of structures, including homes.
Getting home insurance
The quantity surveyors create a budget before the project based on the needs of their client. To make sure the budget is adequate for each step of building, they create thorough estimations.
Their main responsibility is to determine the whole cost of a building project, including labour, materials, and services.
Quantity surveyors can assist with feasibility studies for a project before construction begins. Based on measurements of the designer's or client's sketches, they can roughly estimate the project's scope.
The quantity surveyor examines the blueprints created by the architects and engineers, asses the associated expenses, and then establishes an all-inclusive estimated budget for the project. They might assess the project in comparison to similar ones.
The quantity surveyor can then use workable solutions to plan costs to support the design team in staying within the project budget. Value engineering is the term used for this.
Together with a project architect, the quantity surveyor creates the final comprehensive estimate. This serves as the framework for evaluating bids.
As soon as building begins, the quantity surveyor controls expenses.
After construction begins, the quantity surveyor can offer cash flow information to the client so they can make the necessary financial arrangements for each stage of the project.
In addition, the quantity surveyor can negotiate a "variant" with contractors and determine the financial implications of project changes like delays.
The quantity surveyor can assist a client by creating draw down certificates for money that the bank will loan while also providing a bank with a project report for the project.
Another responsibility in some projects is to settle arguments between clients, designers, and construction companies.
When the project is finished, the quantity surveyor totals the costs.
A statement of final account, which details the actual prices for each job component, can be created by the quantity surveyor.
What do costing and estimating mean?
Calculating or evaluating a quantity using estimation, that is, without using precise measurements, is what is referred to as estimation. In civil engineering and other technical fields, estimating is a vital procedure.
This is typically done in the planning stages before a purchase or building starts. Estimating is often more accurate, but it has certain drawbacks, such as the requirement to know how many man-hours will be required to finish the project if your estimate is based on labour costs.
Estimates are created based on observations and prior experience. The amount of information provided and the length of time that data are accessible for analysis both have an impact on how accurate an estimate is.
Costing is the process of calculating a project's cost before it is finished. You can estimate it with a construction cost calculator or using an itemised list.
The three steps of costing are estimating, bidding, and finalising. It aids in estimating how much money will be needed to complete the job.
In general, a "costing" refers to the price that will be incurred to manufacture one unit of an item, in this case, most likely construction activity.
Costings come in two varieties: -
Independent costing is the cost of the labour and raw materials directly involved. This kind of pricing is not indicative of the total cost of the project because it only accounts for the cost of a particular phase.
Cumulative costing examines the entire cost for all work phases, although it can be challenging to guarantee that estimates are accurate.
Within the construction industry, quantity surveyors and estimators have certain roles and responsibilities.
A quantity surveyor may be employed by the client, the general contractor, or a subcontractor, and they may work out of an office or on the actual construction site. They get involved in a project right away, aiding in the creation of work budgets and cost estimations.
While the project is still being worked on, quantity surveyors are in charge of keeping an eye on any modifications to the contract that can have an influence on costs and of producing reports that show the project is profitable.
He or she will play the roles of Project Engineer in addition to Quantity Surveyor. In this capacity, he or she will oversee the project, follow construction protocols, coordinate all work schedules with the principal contractor, and interact with the project manager and architectural coordinator.
He or she is in charge of overseeing and ensuring that the work is progressing within the confines of the project schedules in addition to autonomously managing the project and encouraging the team.
Quantity estimation and the development of BOQ and BBS documents in line with the drawings
• coordinating with the group in charge of construction and design.
• Examine the engineering plans and specifications, as well as make sure that all centering and reinforcing work has been finished and that the designs' details have been accurately transferred to the ground.
• Accurate measurement of amounts and monitoring of output levels.
• Ensuring that the resources are accessible in a timely manner.
• Conducting a cost analysis for the adjustments and repairs that the customer did that fell inside the project's purview.
• Making arrangements for payment and doing an evaluation of the completed task.
• Ensure that the work is completed in accordance with the designs and requirements, that the construction is of a high calibre, and that no rework is required.
• Conducting thorough assessments of the findings and creating thorough status reports
• Creating regular reports on a daily, weekly, and monthly basis and submitting them to management
A QS may play a number of jobs within the construction sector. Below are a few that are connected to the construction site.
estimation of the material amounts A QS will measure the drawings and determine how much cement, sand, aggregate, steel, brick, block, tile, paint, etc. needs to be purchased.
Contracts for Purchasing - The QS of a Client will publish Tenders/RFQs, host negotiations, conclude contracts, publish work orders/agreements, and so on. The quantity surveyor (QS) for the contractor will estimate the quantities and conduct a rate analysis prior to submitting a tender.
When a contractor submits monthly invoices, the client's quality assurance representative reviews the invoices, and the contractor's quality assurance representative creates the monthly invoices based on the work that was accomplished on the job site.
The QS is required to provide a Reconciliation statement for material reconciliation based on the quantity of materials received, the quantity of materials used, the remaining amount of materials on site, and the amount of material that was wasted.
Reports, such as monthly Cost reports, Progress Reports, Cashflow Reports, and other Report Types as Required by the QS, will be created.
How do you estimate and cost something?
1. To determine the amount, cost, and price of resources needed to complete a project, cost estimation is utilised. Any procedure that is launched to carry out work tasks or produce assets is considered a project. The degree of project scope definition has a significant impact on the estimate's accuracy; as the project's circumstances and design are better defined, so are the estimated values. Consider the 5 AACE estimate classes mentioned above.
2. Cost estimating is necessary to give decision-makers the tools they need to pick between options, make investment decisions, and establish the budget for projects at the outset. For this, clients' estimates must also be verified by those provided by contractors and vendors. The budget estimate is used as a starting point to evaluate a project's performance in later stages.
In keeping with this idea, gathering and analysing the vast amounts of cost data is usually difficult and isn't helpful for making decisions. Making the cost data relevant and understandable begins with analysis and visualisation. The data-driven graphical representations of a project are called dashboards in a project control software system. Dashboards can give decision-makers a quick overview of a project's status and transform data into decision points.
3. To estimate a project's cost and resources, the project's overall scope is divided into manageable components. There are standardised methods for decomposing a project, such as the Work Breakdown Structure (WBS) and the Cost Breakdown Structure (CBS), although numerous structures are frequently employed to match reporting and sharing of cost data based on the needs of the project team and outside stakeholders.
4. A cost estimate goes beyond a simple cost breakdown. A thorough Basis of Estimate (BOE) report that outlines the assumptions, inclusions, exclusions, accuracy, and other factors necessary to determine the overall project cost is also included. Otherwise, it would just a number with no real meaning. The BOE is necessary to share the estimate with the various decision-making stakeholders, but it also comes in handy at closeout when the performance of the project is evaluated against other projects. It is the crucial element—frequently ignored—that enables you to draw lessons from your past experiences and blunders.
However, cost estimation is much easier said than done. A good estimation technique can make the difference between a successful and unsuccessful plan. Keep in mind these four guidelines, and you'll have a foundation upon which to base your estimates. To ensure a smooth transition into project cost estimating software, which will eventually enable you to produce more reliable and accurate estimates, be sure to build up the estimate in an organised manner.