In-Depth Notes on Quantity Surveying

Quantity Surveying (QS) is a profession focused on construction costs and contracts, with a goal to ensure cost efficiency across construction projects.

Main Roles of Quantity Surveyors

  • Financial Management: QS manage funds for construction projects (houses, bridges, tunnels).

  • Time Management: They ensure that projects are completed on schedule.

  • Budget Management: QS keep projects within budget and manage construction costs effectively.

  • Dispute Resolution: They resolve conflicts between contracting parties.

  • Insurance Estimates: QS prepare insurance replacement estimates for various buildings.

  • Budget Calculation: They calculate initial budgets based on client requirements and provide detailed estimates.

Pre-Construction Activities

  • Feasibility Studies: QS conduct initial feasibility studies to estimate project requirements based on client sketches.

  • Cost Studies: They analyze architects’ and engineers’ plans to identify costs and establish a preliminary budget, often employing practical solutions termed as value engineering.

  • Tender Basis: The final detailed estimate is prepared with project architects as a reference for evaluating tenders.

During Construction

  • Cost Tracking: QS monitor costs during the construction phase, providing cash flow data to clients for stage financing.

  • Cost Impact Assessment: They evaluate and agree on changes to project costs, often arising from delays or scope changes.

  • Financial Reporting: Assist clients in preparing bank documents and drawdown certificates.

Post-Construction Analysis

  • Final Cost Statement: QS compile the final cost statement, detailing all incurred costs throughout the project.

Roles as Defined by Wikipedia

  • Cost Planning: Managing project costs from inception through to post-completion.

  • Value Determination: Establishing the worth of elements within the project.

  • Risk Management: Assessing potential risks in the project's lifecycle.

  • Procurement Advice: Providing guidance during the tender process.

  • Contract Administration: Managing commercial aspects of contracts.

  • Dispute Assistance: Supporting parties during conflict resolutions.

  • Interim Valuations: Conducting periodic assessments of work-in-progress.

The Role of FIDIC in Quantity Surveying

  • Contract Templates: FIDIC provides standard contracts for construction industry best practices.

  • Global Representation: FIDIC represents consulting engineering firms and establishes global best practices.

  • Agreement Publishing: Issues various contracts, model agreements and provides guidance for construction operations.

Procurement in Construction

  • Definition: Procurement involves acquiring goods and services necessary for construction, aiming for the best value over a project's life.

  • Principles of Procurement:

    • Maximizing economy and efficiency.

    • Encouraging broad participation.

    • Ensuring fair treatment of all suppliers.

    • Promoting integrity and public confidence.

    • Ensuring transparency.

Risks Associated with Procurement

  • Cost Risk: Final costs may surpass initial estimates.

  • Time Risk: Project completion may be delayed.

  • Design/Quality Risk: Difficulty in managing quality expectations.

Partnering Approach

  • Definition: A collaborative method where all parties (clients, contractors) share trust and objectives.

  • Benefits: Reduces risks and conflicts, enabling effective teamwork.

Cultural and Commercial Issues in Partnering

  • Cultural Factors: Trust, communication, and teamwork are fundamental.

  • Commercial Factors: Establishing costs based on open book accounting ensures comprehensive risk management.

Bills of Quantities (BoQ)

  • Definition: Document prepared by QS that enumerates project-specific measured quantities for construction work.

  • Purpose: Serves as a baseline for contractors during tendering, ensuring fair pricing across bids.

  • Methodology: To minimize disputes and ensure transparency, BoQs must follow standard methods of measurement (like SMM7).

Contingency Sum

  • Definition: An item in the BoQ for unforeseen costs during the contract.

  • Types: Specific (related to identifiable extra work) and general (accessible for any additional work).

Standard Method of Measurement (SMM7)

  • Categories: Includes preliminaries, building structures, groundwork, and various mechanical and electrical systems.