A quantity surveyor specializes in the construction industry in the field of pricing and costs. They typically work with a construction contractor or business owner to determine the overall budget needed for a project or how to fit a new construction project into a projected budget. However, they are much more than just bookkeepers and can offer many advantages to any construction contractor or business owner; note a few of those here so you can know why it's good to have such a professional on your team before any construction project begins.
Change order review
A change order refers to a change in the construction project, either initiated by the person who will own the house or building being constructed or by the construction contractor. The change order can be initiated for something as simple as a new homeowner not liking the look of a home once construction has reached a certain stage or because of a supplier failing to provide certain goods to the construction site. A quantity surveyor can work with the construction contractor to note how a change order will reasonably affect the cost of the project; this can include the need for additional materials and additional labor or for a longer construction schedule. In turn, the budget can be adjusted as needed or other changes can be made to the project to ensure the original budget is met.
Value engineering
Value engineering refers to utilizing the most cost-effective ways of designing and building any project, while not sacrificing the overall look desired by buyers as well as any safety, time frame, budget, or other concerns. A quantity surveyor will be experienced with value engineering and can advise on how to implement these methods so that contractors can save the most money while not sacrificing their desired building or home appearance, location, and other important features.
Peer review
Quantity surveyors often engage in what is called peer review, meaning that more than one surveyor will work to estimate budgets, value engineering methods, and the like, either for the same project or for similar projects. They will then review their individual estimates and note any variances. This allows them to see where they can implement better cost containment or where they may have overlooked certain factors that may affect the budget of a project. In turn, you are assured that you are getting the best information when it comes to the budget and money management of any project.
Share22 June 2016
As the old saying goes, "you have to spend money to make money", and in this blog, I am going to help you see how and when that platitude applies. Hi, my name is Penny, and I love to write. My second favourite thing is to think and strategise about money and finance. In this blog, I am going to explain finance in ways that I hope are new and interesting to you. I studied accounting at uni but verged away from that to start my own consulting firm. I work from home, and I am bringing you this blog from my home office. Thank you for reading!