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The Principal Function of a Quantity Surveyor in Any Construction Project
Calculating the precise cost of a construction project is the responsibility of the quantity surveyor. They also play other duties, including as ensuring that production and cost management are done as effectively as feasible in the building industry.
The reason why quantity surveyors are given this title is because they create a "schedule of quantities"—estimates of the material and labour costs—against which contractor bids may be contrasted. (Contractors are not, however, chosen only based on price.) The timetable is often referred to as a cost projection.
Estimator, cost engineer, cost manager, cost analyst, project coordinator, project cost controller, and cost planner are additional job titles for those with a background in quantity surveying.
The following are the primary responsibilities of a quantity surveyor:
• handling the financial aspects of any form of building project, be it a home, a high-rise, a bridge, or a tunnel
• striving to complete the job on schedule
• putting forth effort to keep the project inside the budget
• ensuring that construction costs and output are handled as effectively as feasible
• settling conflicts arising between parties to a contract.
• developing replacement cost estimates for insurance for all types of structures, including homes.
insurance for your home
Prior to the project, the quantity surveyors determine a budget depending on the needs of their customer. They create thorough estimates to guarantee that the budget is enough for every phase of construction.
They are primarily responsible for estimating the total cost of a construction project, including materials, labour, and services.
Prior to the start of construction, quantity surveyors can assist with project feasibility assessments. Based on measurements of the client's or designer's sketches, they can make an approximation of the project's scope.
A project's overall estimated budget is determined by the quantity surveyor after studying the architects' and engineers' designs and determining the expenditures involved. The project might be compared to similar ones.
Using workable solutions, the quantity surveyor can then plan expenditures to assist the design team in staying within the project budget. Value engineering refers to this.
The quantity surveyor and a project architect collaborate to create the final detailed estimate. The evaluation of tenders is based on this.
The quantity surveyor controls costs as building begins.
The quantity surveyor can offer cash flow information once construction on the building has begun so the customer can make the necessary financial arrangements for each stage of the project.
In addition, the quantity surveyor can work with contractors to agree on "variation" and examine the economic implications of project modifications like delays.
In addition to helping a customer by generating draw down certificates for money that the bank will loan, the quantity surveyor can offer a bank with a project report for the project.
In some projects, another job is to mediate arguments between clients, designers, and construction companies.
The quantity surveyor computes the final cost when construction is complete.
The quantity surveyor can draught a statement of final accounts that lists all of the job's actual expenses.
How do estimate and costing work?
Calculating or evaluating a quantity based solely on assumptions—that is, without using precise measurements—is the process of estimate. In the field of civil engineering, as well as other engineering disciplines, estimating is a vital procedure.
This is typically carried out in the early stages of planning, before to the start of the acquisition or construction process. Estimating is typically more precise, but it has certain drawbacks. For example, if your estimate depends on labour costs, you'll need to know how many man-hours it will take to finish the job.
Estimates are created using knowledge of prior experience and observations. The quantity of detail available and the length of time that data are accessible for analysis are factors that frequently affect how accurate an estimate is.
Costing is the process of determining an unfinished project's cost. An itemised list or an estimation utilising a construction cost calculator can be used.
Estimating, bidding, and finalising are the three processes in the costing process. It assists in estimating the amount of funding needed to complete the project.
A "costing" is often used to describe the price that will be incurred to manufacture one unit of something, in this case most likely building activity.
There are two categories of costs:
Independent costing refers to the price of raw materials and labour. This method of costing, which only considers the cost of a particular phase, is not indicative of the project's total cost.
Cumulative Costing: It might be challenging to ensure that estimates are accurate when looking at the overall cost for all construction phases.
The construction industry has specific roles and responsibilities for quantity surveyors and estimators.
A quantity surveyor may work on the construction site or in an office for the client, the contractor, or a subcontractor. They get involved in a project right away by assisting in the creation of budgets and cost estimates for the task.
Quantity surveyors are in charge of keeping an eye on any contract changes that can have an influence on costs and creating reports that show the project's profitability while the work is still being done.
He or she will perform the duties of both a project engineer and a quantity surveyor. He or she will be in charge of managing the project, following construction protocols, organising all work schedules with the principal contractor, and corresponding with the project manager and the architectural coordinator.
He or she is in charge of overseeing and making sure that the work is progressing within the confines of the project timelines, in addition to autonomously managing the project and motivating and leading the team.
Quantity estimation and the production of BOQ and BBS papers in accordance with designs
• Working in concert with the Design and Construction team.
• Look over the engineering drawings and specifications, verify that the details have been accurately translated to the ground, and confirm that all centering and reinforcement work has been finished.
• The real quantification of quantities and the tracking of productivity levels.
• Ensuring that the resources are available when needed.
• Conducting a cost analysis for adjustments and repairs that the customer handled within the parameters of the project.
• Making payment arrangements and conducting an evaluation of the completed task.
• Ascertain the structure's excellent quality, that the work was completed in accordance with the designs and requirements, and that no rework was required.
• Carrying out in-depth analysis of the outcomes and creating thorough status reports
• Making daily, weekly, and monthly reports and submitting them to management.
A QS may do a number of tasks related to the building sector. The following list includes a few that are related to the construction site.
Calculating the estimated material quantities A QS will calculate the required quantities of materials, such as cement, sand, aggregates, steel, bricks, blocks, tiles, paint, etc., based on the measurements of the drawings.
Contracts for Procurement The QS of a client will release tenders and RFQs, perform negotiations, finalise contracts, issue work orders and agreements, and so forth. The contractor's quantity surveyor (QS) will estimate the quantities and conduct a rate analysis in order to prepare a tender.
The client's quality assurance representative is responsible for assessing the contractor's monthly invoices, and the contractor's quality assurance representative is responsible for creating the monthly invoices based on the work that was accomplished on the project site.
In order to reconcile materials, the QS must first write a reconciliation statement based on the number of materials received, the quantity of materials used, and the remaining amount on site. The QS must then determine the amount of material that was wasted.
Reports will be created, including cash flow reports, progress reports, monthly cost information, and other types of reports as required by the QS.
Estimation and costing: what are they?
1. Cost estimation is used to determine the amount, expense, and cost of resources needed to complete a project. Any procedure that is begun with the intention of carrying out tasks or producing assets may be considered a project. The degree of project scope specification has a significant impact on the estimation's accuracy since it affects both the design and circumstances of the project and the estimated values. Think of the 5 AACE estimate classifications that were mentioned before.
2. Cost estimating is necessary to give decision-makers the tools they need to decide on investments, weigh options, and establish the budget for projects in the early stages. For this, estimates provided by suppliers and contractors must also be verified by clients. The budget estimate serves as a benchmark for following project phases for evaluating the project's success.
This idea is related to how difficult it is to gather and interpret the vast amount of cost data, which hinders decision-making. Making the cost data relevant and useful requires analysis and visualisation. A project control software system's dashboards are the data-driven graphical representations of a project; they can give decision-makers a quick overview of the project's status and transform the data into decision points.
3. To estimate, divide the project's overall scope into manageable chunks that may each be given a budget and resource allocation. There are established methods for decomposing a project, such as the Work Breakdown Structure (WBS) and the Cost Breakdown Structure (CBS), but depending on the requirements of the project team and outside parties, multiple structures are frequently used to coordinate reporting and sharing of cost data.
4. A cost estimate is more than just an expense list. Assumptions, inclusions, exclusions, accuracy, and other factors necessary to comprehend the overall project cost are described in detail in the Basis of Estimate (BOE) report that is also included. It wouldn't mean anything if it didn't. The BOE must be shared with all stakeholders involved in decision-making, but it also comes in handy at closeout when the project's performance is evaluated against that of other projects. It is the crucial, frequently ignored aspect that enables you to gain knowledge from past experience and failures.
However, cost estimation is more difficult to accomplish than to say. A successful strategy can be distinguished from a failing one by using an accurate estimation technique. You already have a framework to begin estimating if you keep these 4 ideas in mind. To make the shift into project cost estimating software simple, be sure to build up the estimate in an organised approach. This will enable you to produce longer-term estimates that are more reliable and accurate.