What is Quantity Surveying?
Quantity Surveying is mainly concerned with the financial aspects of construction, however the Quantity Surveyor also needs technical knowledge, managerial skills and an awareness of the principles of business. They sometimes use their specialised knowledge to act as consultants to business and government.
Quantity Surveyors are mainly responsible for preparing budgets and reports to set targets before building work begins and then providing expert control to ensure the deadlines and costs set at the start of a project are met.
They also provide advice on construction law, study architectural and engineering drawings and specifications and liaise with architects, engineers, contractors, sub-contractors, suppliers and project developers.
One of the most important aspects of Quantity Surveying is preparing Bills of Quantities, which is a document that lists the individual components required to construct a project. These Bills of Quantities are then sent out for pricing to tenderers, and is analysed after completion by the Quantity Surveyor to ensure that the Client gets the best value for money.
The Quantity Surveyor also has to keep track of changes in design to assess the effects on costs as well as measure and value the work carried out. He then assesses the amount of work completed and recommends payment to contractors during the construction stage.
Monthly cash-flow forecasts and tax depreciation schedules are also prepared for clients, as well as feasibility studies to assist in decisions about the worth of a project proceeding.
When a project has been completed, the final account is created by the Quantity Surveyor.