As a contractor, it’s important to understand the complexities of a Bill of Quantities (BOQ). This will help you make sure you’re not losing any money. Your Quantity Surveyor (QS) plays a central role in this process.
They work to safeguard your financial interests. In this blog, we’ll look at how your contractor’s QS works with other professionals to make your project more cost-effective so you can make a profit.
Navigating the Maze of QS Professionals
In construction, there are many QS professionals who manage project finances. They each have different roles. Understanding their responsibilities is essential for ensuring your interests are well represented:
- The Client’s/Main Contractor’s QS (MCQS) is in charge of preparing the BOQ. This document details the work scope and costs. They act as the financial steward of the project from the client’s perspective.
- Your Contractor’s QS is your financial advocate. They examine the BOQ, ensuring that you get paid for all parts of your work, like the measure (quantity) and the rate (cost).
- If you’re working with Subcontractors, their QS will also have a say in the financials. They make sure their interests are represented in the BOQ and they are fairly compensated for their work.
Engaging your QS early in the project
By involving your QS in the project planning stages, you can identify cost issues and accurately reflect the scope of work in the BOQ. This early involvement can save you time and money in the long run.
Reaching Consensus: The Art of Agreement
Agreeing on the BOQ is a complex process requiring careful attention to detail. It involves:
- Your quantity surveyor may need to measure the work on-site to make sure it matches the BOQ, and you get paid the right amount.
- In the beginning of a project, measurements are taken from drawings to make sure they are accurate and avoid problems later.
- Your QS will analyse the rates for plant, labour, materials, and other costs to make sure they are fair. This protects your profit margins and keeps your pricing aligned with industry standards.
- Day Works Sheets are important for billing and verifying the BOQ. They track daily plant, labour and materials costs, ensuring you get paid for all your work.
- Any extras or variations to the works must be documented and agreed upon financially. This will prevent disputes and ensure fair compensation.
Reviewing and agreeing on variations and extras promptly
Addressing any variations or extras to the original scope of work promptly is essential to prevent disputes and ensure fair compensation. Your QS can assist in documenting and negotiating these changes effectively.
Keeping detailed records of project expenses, like plant, labour hours, materials, and subcontractor invoices is important. Your QS can guide you in establishing a solid record-keeping system.
Collaboration: The Key to Financial Efficiency
Your contractor’s QS doesn’t work in isolation. They frequently walk the site with the client’s QS. They discuss and work through the BOQ together. This collaboration is vital for several reasons:
- Two sets of eyes are better than one. Working together on reviews ensures accuracy and helps find mistakes in the BOQ, so they don’t affect your finances.
- When QS professionals have strong relationships, negotiations become smoother, and resolutions are faster. This can save you time and money.
- When QS professionals collaborate, they simplify financial discussions, leading to faster payments and improved cash flow for your project.
Establishing clear communication channels
Maintaining open and transparent communication with your QS throughout the project is crucial. You should share project updates, address concerns quickly, and participate in BOQ and financial discussions.
Encouraging regular site walkthroughs
You can do regular walkthroughs with your QS. This helps you assess work progress and verify measurements on the spot. Taking a proactive approach can prevent mistakes and ensure you get paid correctly for your work.
Conclusion
Your contractor’s QS is not just in charge of finances but also important for project success. If you’ve done the QS work yourself, you’ll know how much effort it takes to make sure you get paid properly.
Your contractor’s QS alleviates the admin and negotiation aspects on your behalf by interacting with the other QS’s on the job. In construction, every detail matters. Your QS ensures no details are overlooked.
At Carroll Estimating, we provide a team of experienced contractor’s Quantity Surveyors and Estimators for less cost than that of one QS employee. We work with contractors from the tender bid, managing their payment claims right through to the final account. Talk to the team today.