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5 Skills Required To Be a Competent Construction Cost Estimator (Quantity Surveyor)

5 Skills Required To Be a Competent Construction Cost Estimator (Quantity Surveyor)

If you want to be a good Construction Cost Estimator (US) also called a Quantity Surveyor (UK), then you must get a College Diploma or University Degree at an institution that offers the course. Getting an education at a recognized institute of learning will equip you with knowledge in many aspects of the Quantity Surveying profession. After getting an educational qualification, you can even go further to be a certified professional by writing examinations offered by an international or local body of Quantity Surveyors. Such bodies include the ASPE in America and RICS in the UK. Depending on the advancement of the profession in the region, some countries have their own examining and certifying bodies which offer professional status to qualifying individuals.

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10 Tips to Start Your Construction Career

10 Tips to Start Your Construction Career

There’s no better way to find advice for becoming a Quantity Surveyor than to ask an existing professional in this area. So we spoke to Keith Keown who started his quantity surveying career some years ago. Keith got his degree in this subject and went on to work with various construction contractors and consultancies in the UK and internationally. When the recession hit in the early 1990s, Keith headed to Malaysia for his first expat job before going to work in Hong Kong. He now works as a consultant in Queensland, Australia. His advice is sound and gives a well-rounded idea of what you need to know and consider as well as taking into account the future of the industry. Here’s what he had to say

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8 BENEFITS TO USING A QUANTITY SURVEYOR

8 BENEFITS TO USING A QUANTITY SURVEYOR

There are several reasons why you would use a quantity surveyor on a residential project. 1. If you are looking at the viability of a future project a quantity surveyor can look at the demographics of the scheme and do a report to highlight its feasibility. 2. If you get your plans drawn up, you can get a quantity surveyor to estimate the amount of materials you will be using as per the plans. 3. They can draw up a cost plan which highlights the cost of materials and labour required on the project for each element of the construction project. 4. They can analyse the specification in order to bring down the cost if required, which is known as ‘value engineering’.

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5 Best Practices for Contract Administration

5 Best Practices for Contract Administration

Successful contract administration requires some serious planning and meticulous oversight. Regardless of whether a company’s portfolio has 50 contracts or 500, there will be a lot of details and deadlines to monitor. As a result, it is crucial for a company to have a solid contract management team in place, and one that is capable of overseeing any and all contracts that are added to the portfolio. Here are the top 5 best practices for contract administration

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5 Different types of construction contracts and their suitability 1

5 Different types of construction contracts and their suitability 1

1. Lump sum Contract: A lump sum contract is normally used in the construction industry to reduce design and contract administration costs. It is called a Lump Sum because the contractor is required to submit a total and globalprice instead of bidding on individual items with this kind of contract the engineer and/or contractor agrees to do a described andspecified project for a fixed price. 2. Unit Price Contract: Items of work of the contract are specified with estimated quantities in the Bills of Quantities. Estimated quantities are surveyed by Architect/Engineer. Contractors enter unit prices against the estimated quantities of work.The contract is based on estimated quantities of work items and unit price for each of these work items. Payment is made on the basis of units of work actually done and measured in the field multiplied by the unit prices.

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1.85k views • 7 slides
5 Different types of construction contracts and their suitability

5 Different types of construction contracts and their suitability

1. Lump sum Contract: A lump sum contract is normally used in the construction industry to reduce design and contract administration costs. It is called a Lump Sum because the contractor is required to submit a total and globalprice instead of bidding on individual items with this kind of contract the engineer and/or contractor agrees to do a described andspecified project for a fixed price. 2. Unit Price Contract: Items of work of the contract are specified with estimated quantities in the Bills of Quantities. Estimated quantities are surveyed by Architect/Engineer. Contractors enter unit prices against the estimated quantities of work.The contract is based on estimated quantities of work items and unit price for each of these work items. Payment is made on the basis of units of work actually done and measured in the field multiplied by the unit prices.

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Four Tips for Writing Contract Amendments

Four Tips for Writing Contract Amendments

Drafting a sound contract often requires seemingly endless negotiations and countless versions of the agreement before all parties are satisfied. But, despite spending days, weeks, or even months getting a contract into a mutually acceptable format, circumstances often arise necessitating some sort of amendment to the existing contract language. It is important to remember that an amendment changes something in the contract, as opposed to an addenda which would involve making additions to the contract.

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How to Successful Subcontract Management Using the Contract Lifecycle

How to Successful Subcontract Management Using the Contract Lifecycle

For many companies, providing goods and services to other firms by virtue of a contractual relationship is central to the heart of their business, and it is often quite lucrative. Of course, companies cannot always make their products or provide their services without the help of subcontractors. Companies with a high volume of contracts often enter into subcontracting agreements with other firms to manufacture goods or deliver services in a faster, cheaper, and/or more efficient manner. Granted, relying on the actions of an external party can be risky, as that party’s failure to perform properly or punctually will generally have an unwanted ripple effect on the rest of the process. For this reason, it is imperative for companies to keep a very tight rein on both their primary contracts and subcontracts. This is something that can be accomplished by thinking about subcontract management throughout the contract lifecycle, as explained below.

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The Difference Between Contract Management and Contract Administration.

The Difference Between Contract Management and Contract Administration.

The terms contract administration and contract management are often used interchangeably. Although they share many similarities, at a granular level, they are technically different phases of the contract lifecycle. However, for many companies, the same team of professionals may be responsible for both facets of the contracting process, which is likely one of the reasons that people tend to conflate these terms. Deciding if these are related or distinct processes really depends on the size and resources of a company and whether the company has a specific team devoted to the contracting process. For smaller businesses, people often have multiple job functions, including the handling of all contract matters. Here are the primary differences between the two aspects of contracting:

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