As a contractor, you know that managing the financial side of your projects is essential to success. That’s where Quantity Surveyors (QSs) and Estimators come in. Both professionals play a crucial role in helping you stay on budget and achieve your project goals, but they have distinct roles and responsibilities.
5 Key Differences Between QSs and Estimators
1. Stage of Involvement
Estimator: Estimators are typically involved in the early stages of a project, during the tender stage. They help contractors develop accurate and competitive bids by providing detailed cost estimates for specific parts of the project.
Imagine you’re preparing to pitch for a school construction project. The Estimator is the one who’d break down the costs of bricks, labour for the playground area, the school’s central heating system, and so on. Their figures ensure your tender is both competitive and viable.
QS: QSs are involved throughout the project lifecycle, from pre-construction to the final account. They are responsible for managing all aspects of project costs, including developing the initial budget, monitoring costs during construction, and managing contracts.
Once you’ve got the green light on the job, the QS enters the scene, watching over the project like a hawk, ensuring every penny spent is accounted for from start to finish to make sure you maximise your profits on the job.
2. Focus of Costing
Estimator: Estimators focus on developing detailed cost estimates for specific parts of a project, such as materials, labour, and equipment.
Take the school’s gym, for example. The Estimator will tot up the cost of the wooden flooring, basketball hoops, even the paint on the walls and floors, ensuring you have a clear picture of costs associated with that specific segment.
QS: QSs look at the broader picture, considering all costs associated with the project, including direct costs (such as materials and labour), indirect costs (such as overhead and management), and risk contingency.
So, the QS, is the person ensuring the gym’s construction doesn’t derail the budget for the school library or cafeteria. They weigh every cost, even the unforeseen ones like unexpected plumbing issues or sudden price hikes in materials.
3. Contract Management
Estimator: Estimators are not typically involved in contract management. Their primary focus is on developing accurate cost estimates.
Once the Estimator gives you the cost structure for, let’s say, the rest of the school construction project like the science and tech graphic rooms, their main role recedes.
QS: QSs play a significant role in contract management. They are responsible for advising on contractual matters, preparing contract documents, and ensuring that payments are in line with work progress.
The QS, meanwhile, might notice that the science lab’s work progress is ahead of schedule and then manage payments to suppliers and workers accordingly, ensuring smooth cash flow.
4. Cost Control and Monitoring
Estimator: Estimators typically complete their involvement in a project once they have provided their initial cost estimates.
Again, using the school project as an example, after giving an initial estimation for the school project’s indoor and outdoor works, the estimator will generally step back at this stage.
QS: QSs are continuously monitoring costs throughout the project lifecycle. They track actual costs against the budget and identify potential areas of overrun. They also work with contractors to develop and implement cost-control measures.
5. Adaptability and Ongoing Assessment
Estimator: Estimators provide an initial assessment of project costs at the tender stage. However, they are not typically involved in the ongoing adjustments that may be needed as the project evolves.
Because the estimator’s job is mostly front-loaded, giving you an upfront cost layout, they’re no longer on-site at this point.
QS: QSs are continuously assessing project costs and adapting to changes. They work with contractors to ensure that the budget remains realistic and that any cost implications of changes are clearly understood and managed.
Imagine a storm damages the seating materials whilst the school is under construction. The QS is ready to assess, adapt, and realign budgets, ensuring no nasty financial surprises.
Which One Do You Need?
Both QSs and Estimators can play a valuable role in your contracting business. However, the specific services you need will depend on the size and complexity of your projects. For smaller projects, you may be able to manage costs yourself. However, for larger and more complex projects, it is advisable to engage the services of a QS or Estimator.
You also need to be aware of the difference between a Contractor’s QS and a PQS. Check out our recent Instagram Post to learn more about those differences!
View this post on Instagram
Tips to Choose the Right QS or Estimator
- Referrals: Talk to fellow contractors or trusted colleagues in the construction industry. Word of mouth is gold.
- Check Their Track Record: A QS with experience in commercial spaces might not be the best for residential projects and vice versa.
- Certifications Matter: Ensure they’re recognised by relevant industry bodies. In particular, RICS (Royal Institution of Chartered Surveyors): https://www.rics.org/ – The world’s leading professional body for qualifications and standards in land, property, construction and infrastructure. Here in Ireland, you’re looking for your QS & Estimator to be registered with the Society of Chartered Surveyors Ireland (SCSI), which is the independent professional body for chartered surveyors working and practising in Ireland. The SCSI works in partnership with the RICS. And lastly, that they’re part of the Chartered Institute of Building (CIOB).
- Industry Knowledge: They should be up to date on current market rates, labour costs, and potential financial pitfalls specific to your project type.
- First Principles: We believe using First Principles is the best way to accurately build up your rates and recommend choosing a QS or Estimating partner who uses this method.
Final Thoughts
Understanding the roles of an estimator and a QS doesn’t have to be confusing. In simple terms: Your estimator helps you figure out your project’s budget, and your QS ensures you stick to it while getting the best value for your money. Having them by your side means your projects run smoother, with fewer financial surprises. And who doesn’t want that?
Keep building amazing things, and know we’re here to help every step of the way! The team at Carroll Estimating are all qualified Quantity Surveyors and Estimators. Get in touch today to discuss your upcoming projects.
P.S. If this article was helpful for you, don’t forget to share it with other contractors. We’re all in this together!