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In each construction project, a quantity surveyor plays a key role.
Determine how much a construction project will cost is the responsibility of the quantity surveyor. In particular, they ensure that production and cost management are carried out as effectively as feasible. They also have other responsibilities.
For the purpose of comparing contractor bids, quantity surveyors create a "schedule of quantities" that includes estimates of the material and labour costs. (Contractors, however, are not chosen only based on price.) Also known as a cost estimate, the timetable.
Estimators, cost engineers, cost managers, cost analysts, project coordinators, project cost controllers, and cost planners are other titles for professionals working in the quantity surveying industry.
The principal duties of quantity surveyors are:
• overseeing the financial aspects of any type of construction project, be it a home, a high-rise, a bridge, or a tunnel
• ensuring that the project is completed on schedule
• attempting to maintain the project's financial constraints
• Ensuring that construction costs and output are managed as effectively as feasible
• adjudicating arguments between parties to a contract.
• creating insurance replacement estimates for various types of structures, including houses.
A home insurance policy
The budget is determined before the project by the quantity surveyors using the specifications provided by their customer. They create thorough estimates to make sure the budget is enough for each step of construction.
Finding out how much a construction project will cost—including the price of supplies, labour, and services—is their primary responsibility.
The feasibility studies for a project can be assisted by quantity surveyors before construction begins. Using the dimensions of the designer's or client's sketches as a guide, they can roughly estimate the project's scope.
The quantity surveyor examines the blueprints created by the architects and engineers, determines the costs associated with those costs, and then provides an anticipated total budget for the project. They might assess it in comparison to similar projects.
The cost planner can then use workable alternatives to help the design team stay within the project budget. Value engineering describes this.
The quantity surveyor, in collaboration with a project architect, creates the final detailed estimate. A tender's evaluation will be based on this.
Quantity surveyors control costs before building even begins.
The quantity surveyor will be able to give cash flow information once construction has begun so that the customer can make arrangements for the necessary funding for each project stage.
Along with negotiating "variation" with contractors, the quantity surveyor can evaluate the financial implications of project modifications like delays.
The quantity surveyor can assist a client by preparing draw down certificates for money that the bank is going to give them and can provide a bank with a project report for the project.
Another task in some projects is resolving conflicts between clients, designers, and construction companies.
The quantity surveyor totals the cost once construction is complete.
The quantity surveyor is able to create a statement of final account, which details the real prices for each job component.
What exactly are costing and estimation?
Calculating or assessing a quantity using estimation, i.e., without using precise measurements, is known as estimation. Civil engineering and other engineering fields depend on estimation as a fundamental procedure.
Usually, this is carried out in the early stages of planning or before the purchase or construction process starts. Estimating is typically more precise, but it has certain drawbacks. For example, if your estimate is based on labour costs, you'll need to know how many man-hours it will take to finish the job.
Observations and past experience are used to produce estimates. The level of detail available and the length of time that data are accessible for study both play a role in how accurate an estimate will be.
Predicting a project's cost before it is finished is the process of costing. A construction cost estimator or an itemised list can be used to complete the task.
Estimating, bidding, and completing are the three stages of costing. It assists in estimating the project's financial requirements.
In most cases, "costing" refers to the price that will be incurred to produce one unit of a particular good or service, in this example, most likely construction work.
Costings come in two flavours: -
The cost of direct labour and material expenses is known as independent costing. This method of pricing does not accurately reflect the cost of the entire project because it only accounts for the cost of a particular phase.
Cumulative costing - although it can be challenging to guarantee that estimates are accurate, this method of costing examines the overall cost for all work phases.
The construction industry assigns quantity surveyors and estimators particular roles and responsibilities.
A quantity surveyor's employer could be the customer, the contractor, or a subcontractor, and their workplace could be an office or the building site itself. They get involved in a project from the outset, assisting with the creation of work budgets and cost estimations.
In addition to creating reports that show the project's profitability while work is still being done, quantity surveyors are in charge of keeping an eye on any contract changes that could have an impact on costs.
He or she will also perform the duties of a project engineer in addition to quantity surveying. In this capacity, he or she will be accountable for overseeing 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 accountable for overseeing and ensuring that the work is progressing within the bounds of the project schedules in addition to autonomously managing the project and inspiring and leading the team.
Quantity estimation, as well as the development of BOQ and BBS papers in accordance with drawings
• Assisting the design and construction team in coordination.
• Examine the engineering specifications and drawings, as well as make sure that all centering and reinforcing work has been finished and that the drawing's details have been accurately translated to the ground.
• The precise measurement of quantities as well as the observation of productivity levels.
• Ensuring that resources can be accessed quickly.
• Conducting a cost analysis for adjustments and repairs that were made by the client and fell inside the project's purview.
• Making financial arrangements and conducting an evaluation of the work that has been completed.
• Ascertain the high quality of the structure, the accuracy of the work in relation to the plans and the specifications, and the absence of any rework.
• Analyzing outcomes in-depth and creating thorough status reports
• Creation of Daily, Weekly, and Monthly Reports and Submission of Said Reports to Management
A QS can perform a range of tasks within the building business. The list below contains a few that are related to the construction site.
Calculating the ingredients' amounts The plans will be measured by a QS, who will also determine how much cement, sand, steel, aggregate, brick, block, tile, paint, etc. to be purchased.
Contracts for Buying - The QS of a Client will publish Tenders and RFQs, hold negotiations, approve contracts, publish work orders and agreements, and do other tasks as needed. The contractor's quantity surveyor (QS) will estimate the quantities and conduct a rate analysis in preparation for submitting a tender.
The client's Quality Assurance representative checks the contractor's monthly invoices that have been filed, and the contractor's Quality Assurance representative creates the monthly invoices based on the work that has been finished on the job site.
To reconcile materials, the QS must first write a reconciliation statement based on the quantity of materials received, the quantity of materials used, the balance on site, and the amount of material that was left over.
Reports will be created, including monthly Cost reports, Progress Reports, Cashflow Reports, and other Report Types as Required by the QS.
Costing and estimation: what are they?
1. Cost estimation is used to forecast the volume, cost, and cost per unit of the resources needed to complete a project. Any procedure that is initiated in order to carry out tasks or produce assets may be considered a project. The degree of project scope definition has a significant impact on the estimation's accuracy; as the project's conditions and design are better understood, estimates for those variables become more accurate. Consider the AACE's five estimation classes that were mentioned above.
2. Cost estimating is necessary to give decision-makers the tools they need to decide where to invest their money, how to prioritise options, and how much money to set aside for projects at the outset. In order to accomplish this, clients must also verify the estimates provided by vendors and contractors. The budget estimate is employed as a benchmark in later stages of the project to evaluate how well it is performing.
The enormous volume of cost data is difficult to gather and understand, which hinders decision-making. This principle is related to this. The cost data can become more relevant and meaningful by being analysed and visually shown. 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 the data into decision-points.
3. The whole scope of a project is divided into manageable components that may be cost- and resource-assigned. There are standardised methods of project breakdown, such as the Work Breakdown Structure (WBS) and the Cost Breakdown Structure (CBS), although numerous formats are frequently used to match reporting and sharing of cost data based on the needs of the project team and outside stakeholders.
4. A cost estimate entails more than a simple cost breakdown. It also contains a thorough Basis of Estimate (BOE) report that goes into great detail on the presumptions, inclusions, exclusions, accuracy, and other elements required to interpret the overall project cost. It wouldn't have any value if it didn't. The BOE must be shared with the various decision-making stakeholders and is helpful at closeout when comparing the project's performance to that of other projects. You can only learn from your experiences and failures, which is a crucial but frequently ignored aspect.
It is, however, simpler to estimate costs than to actually do so. The success or failure of a plan may depend on how accurately it is estimated. As long as you keep these 4 guidelines in mind, you'll have a solid foundation from which to create estimates. In order to transition into project cost estimating software smoothly and ultimately produce more reliable and accurate estimates, make sure to build up the estimate in a systematic manner.
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