What is Quantity Surveying?
If you’ve worked on a construction project you may have come across a Quantity Surveyor (QS). However a number of people who have never worked in the industry, or are entering the property market, may have never come across such a consultant. You may even work in the industry and have never crossed paths with a Quantity Surveyor. Have you ever wondered who these consultants are, what they do, or how they fit in to all this?
Well, here’s there short version!
Quantity Surveyors are essentially responsible for the reporting of a project’s cost; from start to end.
Prior to a project’s commencement a QS will conduct a cost analysis for council in order to approximate the development budget, tailored to the Local Council’s requirements, and is based on a review of the provided Architectural Documentation. This particular analysis necessary during the Development Application submission stages.
Another document and analysis which a Quantity Surveyor will prepare prior to commencement is a Pre-Construction Report. This report is an in-depth analysis of the costs, and is based on the DA Approved drawings as well as the conditions of the property.It aims to provide a more accurate forecast of the development budget previously approximated for council. A Pre-Construction Report (otherwise known as a Bank Report) consists of a trade estimate, or a ‘Bill of Quantites’as it is commonly referred to, which is incorporated into a Cost Report to be submitted to the financier.
Throughout the construction stages of a project it is the role of the Quantity Surveyor to provide a Progress Drawdown Report to the financer of the property, to enable funds to be released to the developer of the property. This particular report is often preceded by a site inspection in order to assess the current rate of completion.
Post Construction, the most common role of a Quantity Surveyor is to prepare a Tax Depreciation Schedule for the entire project.
These are just a few of the major roles that a Quantity Surveyor will perform for their clients. If you would like to see a full list of Quantity Surveying services, click here or head over to our “Expertise” page.
QPC & C prepare all reports to the specifications of the Local Councils and Financing Institutions. All of our reports are prepared based on rates calculated from a combination of our own internal database as well as data collected from suppliers and subcontractors. We are confident in these rates as they are derived based on our own development projects. Only on limited occasions do we rely on cost publications and other industry approved cost guidelines.
If you are interested in having QPC & C prepare a report for you, click here or head over to our “Contact Us” page.