Quantity Surveying

What is a Quantity Surveyor?

A quantity surveyor estimates costs during large-scale construction projects. They are responsible for ensuring that planned structures comply with quality standards. Quantity surveyors provide support from the beginning of the project and evaluate ways to increase cost efficiency through regular reports.

Chartered surveyors are recognised by formal accreditations under RICS, meaning they are capable of providing the highest quality of service in their sector. Our RICS-qualified team of chartered surveyors are practical and proactive, joining your project team in the initial stages, and often being the last to sign off – ensuring your budget is considered until the very end. 

What are the Benefits of using a Chartered Surveyor?

Our experienced team of cost consultants are versed in a large variety of sectors making sure your project benefits from a multi-disciplinary approach, characterised by diverse experiences and a varied range of working methods. Acting as a gatekeeper and impartial advisor, we guide our clients in choosing the right options for the continuation of your project. With the construction industry changing and developing alongside technology and culture, the need for quantity surveying is higher than ever, as we embrace digitalisation, sustainability and optimising automation. 

What are the Responsibilities of a Chartered Surveyor? 

As much as we can help with standard tasks like pricing estimates, contractual advice and risk management, our services extend to:

Procurement Advice and Strategy

Our chartered surveyors can provide expertise and knowledge to advise clients on the best-suited procurement strategy for their construction project. Selecting the right procurement method is crucial for a successful project and our team can provide advice for a range of clients based on cost limits, price estimations, design factors and deadline requirements.

Advice on Cost Planning

Surveyors can assist with the cost planning process through providing estimated costs for the project, which are used to establish cost targets. During the design development, these cost targets are used to monitor spending for cost control.

What does the Cost Planning Process Involve?

The cost planning process of a project can be divided into three stages:

• The Preliminary Approximate Estimate- this is the first stage where the surveyor will establish a realistic initial estimate for the cost.
• The Cost Plan- this is where surveyors can assist with planning how the estimate should be spent across different stages of the project.
• Cost Checking- this stage checks that the design can be completed inside the cost plan confinements.

Insurance valuations

An insurance valuation assessment, also referred to as a buildings reinstatement cost valuation, provides the cost of reinstating a property after it has been damaged. The valuation is based on the costs of demolition, site clearance, architect and other fees involved with re-building the property. RICS recommends that insurance valuations should be taken on a basis of every 3 years according to advice for landlords, agents and leaseholders.

Cash flow forecasting

Cash flow forecasting is used for financial management of construction projects, focusing on payments which are due for a particular contract. Quantity surveyors can assist with this through estimating the timing and quantity of cash coming into and out of the project.

Cash flow forecasting is a useful way surveyors can monitor a project’s progress on site against the programme of delivery. Using forecasting can allow you to discover cash shortages and plan for the future during builds.

Contractor/supplier pre-qualification and evaluation

A quantity surveyor can assist with contractor and supplier analysis through a pre-qualification questionnaire (PQQ). This is used to determine the most suitable contractor or supplier for the project.

A PQQ tender in construction can be used to cover questions across key areas such as insurance information, health and safety policies, equal opportunities and diversity, quality assurance, and process and performance details. PQQ tenders allow companies to effectively compare bids against set requirements and refine to a shortlist for the procurement process.

Tender and contract preparation and evaluation

Our quantity surveyors are aware of the essential components for setting terms as part of your tender process. This can include checking all compliant bids, rejecting non-compliant bids and supplying the contract terms for your project with accurate bills of quantities. Once you have agreed on a bid, our quantity surveyors can assist with setting bills of quantities and ensuring a fair and considered payment process is established in line with the cost plan.

Cost in use and life cycle costing

Life cycle costing is the process for evaluating and estimating costs of building a project from the design to disposal stage. Quantity surveyors are trained to help evaluate the life cycle costs involved in your projects.This can increase the project’s long-term profitability and business achievement.

Contract Administration and Commercial and Financial Management Both Pre- and Post-Contract

During the construction phase, a quantity surveyor can assist with administering the contract, monitoring any adjustments which may occur. The quantity surveyor will track costs and clarify amounts which are due to be paid in accordance with contract conditions.

Interim Valuation and Final Account Negotiations and Settlements

Interim valuations are used to provide advice to the certifier on a construction project for the issuing of interim certificates and payment notices.Interim valuation involves a revaluation of the work as a whole, and assesses what remains of the final contract value after each interim valuation, ensuring it fits within the contract terms and conditions.

Value Engineering and Management Advice

Value engineering is used to reduce costs in the construction project and ensure that it complies with the agreed budget. Surveyors can assist with identifying areas where costs can be reduced without detriment to the project quality. This includes evaluating costs related to labour, supplies, equipment, and technology used. 

What are the Benefits of Value Engineering?

Using the services of a quantity surveyor for value engineering can have many benefits for your project, including:

• Reduced costs involved through refining procurement strategy.
• Improved quality of materials and components used in the project.
• Risk mitigation to avoid expensive mistakes and make contingency plans for potential conflicts.
• Increased project efficiency through allowing contractors to make informed decisions, saving time in the process. 

Further Assistance for your Construction Project

At Eddisons, our team of highly experienced RICS-qualified quantity surveyors are here as a resource to assist you in project delivery whether small or large scale. We can help manage cost-efficiency of your construction, as well as saving you time and resources. If you would like to learn more about how our team can assist you with your project, contact one of our expert team today.