According to the Australian Institute of Quantity Surveyors:
“Quantity Surveyors have usually completed an appropriate tertiary degree course and undertaken work experience which qualifies them for membership of AIQS. They work on projects ranging from office blocks, schools, hospitals, factories to bridges, railways, oil and mining development, shipbuilding and large process engineering works such as oil refineries. Anywhere, indeed, that major construction work is carried out.
The Quantity Surveyor, also known as a Construction Economist, or Cost Manager, is one of a team of professional advisers to the construction industry. As advisers they estimate and monitor construction costs, from the feasibility stage of a project through to the completion of the construction period. After construction they may be involved with tax depreciation schedules, replacement cost estimation for insurance purposes and, if necessary, mediation and arbitration.
Quantity Surveyors work closely with Architects, Financiers, Engineers, Contractors, Suppliers, Project Owners, Accountants, Insurance Underwriters, Solicitors and Courts and with all levels of Government authorities.”
A process that is usually undertaken 1 to 3 times during documentation/design phase (pre-contract). The service is implemented to provide a report that examines the likely construction costs of a project and its financial feasibility.
Our Cost Plans provide a comparable estimate between the construction costs and project budget while allowing a detailed trade by trade comparison to the builder’s estimates/quotes. Thus, highlighting any areas of concern and/or potential areas of savings.
Cost planning offers the client the best value for their money while preventing lost time and money due to re-documentation should the builder’s price come in higher than the budget.
Tender Evaluation & Negotiation:
Usually, once one or more of the builders have submitted their tender/s, this process starts. We compare detailed trade breakdowns which highlight any areas of concern across the panel of builders. We bring forth areas of significant costs based on variances that arise when cross-examined to our cost estimate reports.
Sometimes, we can use these significant cost variances in potential negotiations to reduce costs.
Building Replacement Valuation for Insurance:
We can provide a cost report detailing the costs of replacing your home; this ensures you have a sufficient level of cover needed to prevent shortfall if the unthinkable happens.
During design the Quantity Surveyor ensures that the design remains on budget through cost management. Essential additions are offset by identified other savings. On completion of design and drawings, the Quantity Surveyor may prepare a Bill of Quantities, which is issued with the specification, for use by contractors in submitting tenders. The contractor’s quantity surveyors/estimators generally prepare tenders and may price alternatives for consideration.
Usually done during the construction phase. Controlling the project cash flow ensures the project and client have sufficient funds remaining to complete the project and further allowing a detailed trade by trade assessment of the builder’s progress claim.
Progress Claim Assessment:
On-site assessment of the builder’s progress claims (i.e. monthly or staged payment claims). Our assessments also include a detailed comparison report, as well as any necessary negotiation if the claimed amount does not line up with the assessed amount.
Variation Assessment and Negotiation:
Assessment, verification, negotiation and recommendation of any variation or potential variation submitted by the builder during condition. (i.e. client requested change, latent condition etc.)
Project Reports (Banks & Financial Institutions):
We provide an independent cost analysis report detailing the costs of works complete to date, cost of works not yet complete or cost of defective works if necessary to protect both lender and borrower.
We visit the site to establish an understanding of the status of the project. We then prepare a report clearly stipulating the cost of works completed and/or works yet to be completed and/or cost of defective work. (insurance pay out, construction dispute, variation etc).
Attendance at negotiation, mediation or tribunal as ‘Expert Witness’:
Attendance at negotiations, mediations or tribunals as an expert witness to provide evidence or justification to costs associated with a dispute.
Prepare ‘Expert Witness’ report as evidence in a court of law:
Where we may submit our Expert Witness reports as evidence in a court of law, with or without our presence at the hearing
- Initial “draft” issue of the report
- Incorporation of any requested changes to cost plan formatting, wording, layout etc
Incorporation of any requested changes to material selections, fixtures, fittings, appliances, client supplied items, PC sums etc
- Incorporation of any client supplied quotes or estimates
- Minor modifications to the floor plan that remain reasonably within the original brief/scope
- Value management of the project (ie: incorporating cost options, material selection changes etc to reduce overall cost)
- Issue of “final” issue of report
- Ongoing cost advice
We offer the above as a free service included within all our fees to help us provide a more useful tool for each project, while helping separate us from our competition. We like to think of our cost plans, particularly at the early stages of design, as a malleable tool that can be adjusted and modified to suit the desired level of finish and project budget. While remaining accurate to current market conditions, as well as meeting client expectations.